Are Your Young Adults Still Living With You?
According to a new study by the Pew Research Center the number of young adults, described as being in their “late 20s”, living with Mommy and Daddy is the highest they have seen in 75 years.
According to that study 33% of 25-29 year olds are living with either their parents or grandparents in 2016. That number is approximately 300% higher than it was in 1970.
In the study they wrote:
In 2016, a record 64 million people, or 20% of the U.S. population, lived with multiple generations under one roof, according to a new Pew Research Center analysis of census data.
The question is; what does that number tell us? Is it due to the economic situation and reality that we live in today? Is our economic situation both a problem of the amount of good paying jobs that are available, the cost of housing and utilities is too high or a combination of both?
Or is the problem also the way in which we parent our children and never force them to grow up and take on the often stressful responsibilities of an adult?
Could it be that our children want many of the nicer things of life, things that it took us parent’s decades to achieve, and they want them now. I hear from some parents that their young adult children tell them that they pay for their own things, neglecting to acknowledge that “paying for their own things” also is supposed to mean their housing and the cost that are associated with it.
The study also found that the number of young adults living with their Grandparents or Mommy and Daddy is across all: education levels, race, gender, and region.
Has the generation that have these “young adults” failed to prepare their children to leave the nest and stay out of the nest or is it an economic reality that we must accept?