Who's Living in Your Guest House? Number of Boomerang Kids at All-Time Highs

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If you have a grown child living in your guest house, raise your hand.

If you’ve got your hand in the air, you’re not alone. Not by a long shot, in fact.

Now, why is that recent college grad living rent free back in the nest? Some say that there are just as many reasons kids come back to live with parents as there are “boomerang children,” which, according to a recent study from the Pew Research Center for Social Trends, is about 36 percent of young adults ages 18 to 31, or about 21.6 million people.

That is a lot of kids living in their parents home, which no longer has the negative stigma it used to. That’s because unemployment among college-educated young adults is still at record highs, while marriage rates for this demographic are at all-time lows. These young adults often come back to live with parents to save money, pay off college debt, or have a free or low-cost place to live until they find work or while they’re in college.

If you don’t mind living with the ‘rents, it’s an ideal way to save money for a down payment on a home if you ask me. Tell us: Do you have an older child living at home? Why did your kid boomerang back to the nest?

 

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Joanna England

If Executive Editor Joanna England could house hunt forever, she absolutely would. Instead she covers the North Texas housing market and the economy for CandysDirt.com. While she started out with the Real Estate Center at Texas A&M University, Joanna's work has appeared in The Dallas Morning News as well as several local media outlets. When she's not knitting or hooping, or enjoying White Rock Lake, she's behind the lens of her camera. She lives in East Dallas with her husband, son, and their furry and feathered menagerie.

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