Are Boomerang Kids Living Too Long With Their Parents?
According to a Pew Research analysis of U.S. Census Bureau data, a rising number of young adults live with their parents — a record of 21.6 million, or 36 percent, of 18- to 31-year-olds, the so called Millennial generation, were living at home in 2012. That figure is the highest share in at least four decades, and represents a slow, but steady, increase from the 32 percent share living at home before the Great Recession began in 2007 and the 34 percent when it officially ended in 2009.
The changing housing situation for young adults has prompted psychologists to ask: how long is too long for these so-called boomerang kids — or those young adults aged 21 to 28, who have entered the job market successfully or unsuccessfully — to live with their parents?
When making this analysis, it is important to differentiate between the child who moves home to strengthen his or her financial situation and the “perma-child” — someone that returns home to spend money on travel and luxurious dining, and whose parents’ actions prevent their transition to independent adulthood.