The birth of the "boomerang generation" -

From Boomers to 'Boomerang'

Looks like the "boomerang generation" is still booming!

According to new census data, the number of adult children moving back in with mom and dad has soared since the recession.

Nineteen percent of men ages 25 to 34 now live with their parents, which is a five percent jump since 2005.

Ten percent of women in that age group live at home too, which is eight percent higher than in 2005. And the numbers are even higher for college-aged adults!

A full 59 percent of men and 50 percent of women between the ages of 18 and 24 now live with their parents, up dramatically since 2005.

Analysts say all of this means that there are about 150,000 fewer households being formed per year now, which reduces the demand for housing and drives down home prices.

Even if all of those young people were renting, rents would rise and higher rents typically push some households into buying instead.

And this has an effect on the parents, too, of course. 

Couples who had planned to downsize aren't able to if the kids move back home, and that can affect the parents' retirement plans.

There's nothing wrong with helping your kids. But make sure you have clear ground rules about what you expect from them, and how long the arrangement might last! 

Copyright 2012 America Now. All rights reserved.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Physicians warn against giving melatonin to children

    Physicians warn against giving melatonin to children

    Parents desperate to get their troubled sleepers to bed are turning to synthetic melatonin, which is a supplement sold over the counter. But expert warn it could have adverse effects on child development.
    Many adults turn to sleep aids like melatonin, but now more parents are giving them to their kids, too. We talked to physicians to see what they had to say about how it could affect your child's development.
  • Six deadly foods for dogs

    Six deadly foods for dogs

    Every pet owner knows a dog can get into just about anything around the house. One woman found that out the hard way when her dog ate a bunch of grapes! Turns out, that's one of the most dangerous foods
    Every pet owner knows a dog can get into just about anything around the house. But these common snacks could be fatal for Fido.
  • Mouse droppings cause disease

    Mouse droppings cause respiratory disease

    Mice are one of the most resilient mammals living on the planet. Some people have them as pets, and they're also used in laboratory experiments. If wild mice get inside your house, they can potentially
    If wild mice find a way inside your home, they can potentially cause thousands of dollars worth of damage to your drywall and insulation. They can also transmit a harmful disease which can cause death in humans. 
Powered by WorldNow