What do you do when the adult kids move out … and then come back?
It’s not uncommon – the Census Bureau reports that more than one out of three Millennials (ages 18-34) are living at home with their parents. (In some states, it’s nearly 50%!)
- “A Third of Young Adults Live With Their Parents”
Jonathan Vespa, U.S. Census Bureau - “Young adults living with their parents hits a 75-year high”
Aimee Pichi, CBS News
This is not unusual historically – when we look back in our family history a hundred years or more, we see it was common for adult children to be living with parents and sharing the work of farm, forge, and kitchen – or for newlyweds to be living with their parents or in-laws for a time, too.
But this has become more common in recent years. Why?
Young people are getting married later – age of first marriage is approaching 30 for men and 27 for women
- In 1976, 75% of men and 93% of women were married by age 30
- In 2014, it was half that – 32% of men and 46% of women
- More Millennials live with their parents than with a spouse
Student loan debt is a serious burden to many, too. The average college graduate with a bachelor’s degree left school with nearly $28,500 in debt
- “Student Load Debt Statistics”
Brianna McGurran, NerdWallet.com
And this all happening in the midst of a long, sluggish recovery from the financial crises of 2008 and beyond.
So it’s not surprising or rare for parents to find themselves with a twenty-something son or daughter moving back into their old bedroom.
The question is, how can we make this work for all of us?
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