Is it weird to move back in with your parents? | The Tylt
Is it weird to move back in with your parents?
According to CNBC's Sarah O'Brien, 31.5 percent of 18- to 34-year-olds were living with parents in 2017. "Boomerang kids" typically leave home to attend college, only to return after graduating, choosing to live and work in their hometowns in order to save money. O'Brien explains the legitimate reasons for the trend's uptake:
Millennials generally face financial challenges that their parents did not as young adults. On top of carrying most of the $1.5 trillion in student loan debt, their wages are lower than their parents' earnings when they were in their 20s.
Millennials carry a unique burden. Many graduated in the midst of a recession or its aftermath and had no option but to move home after graduation.
But some millennials argue no financial gain is worth sacrificing their independence. Your parents will always be your parents, and just because you were able to live freely in college doesn't mean you can do the same under your parents' roof.
Depending on how your parents operate, you might be back in the world of curfews, sharing cars, and forced family meals. Returning home as an adult creates a new world order, possibly straining your relationship with your parents.
For these reasons and more, some young people prefer to live on their own, even if it sets them back financially.
The only independence that matters is financial freedom, and for many millennials, moving back in with parents is the only way to make that goal a reality. Some people see moving back home as a last resort, but doing so can help you gain momentum as you head into your adult life.
One recent grad writes on Medium that moving home was a transformative experience:
Far from losing momentum, I gained it...Instead of leaping into a hefty job and a new city, I was able to take the time to determine what kind of life I want to live.
Whether its personal or financial development, moving back home can be a saving grace for many young people.
Some parents worry about becoming a crutch by allowing older kids to return home. Kids rarely have a timeline for when they plan to leave home for the second time, and parents often feel strange enforcing one. Plus, this trend has huge economic consequences. The New York Times' Adam Davidson zooms out, explaining the 2008 recession isn't totally to blame for the boomerang generation:
But over the past 30 years, the onset of sustainable economic independence has been steadily receding. By 2007, before the recession even began, fewer than one in four young adults were married, and 34 percent relied on their parents for rent.
Meaning that the boomerang phase is not temporary. Instead, it's quickly becoming part of modern logic and expectations; after college, you move home. This trend will turn the millennials' financial burden into one their parents have to carry, causing great distress. As The Telegraphs'sSarah Knapton reports:
But far from curing empty-nest syndrome, a new study from the London School of Economics and the University of Essex, suggests the return of adult children causes a series decline in parents’ quality of life and well-being.