The case for living with mom and dad
Returning home may be a route to financial independence
More adult Americans are living with their parents. In fact, there’s even a new TV show about it on ABC, “How to Live With Your Parents.”
There are more adult Americans age 34 or younger sleeping in their childhood bedrooms now than at any other time in the past 30 years, studies show. Nearly one-quarter of those ages 20 to 34 were living at home between 2007 and 2009, up from 17% in 1980, according to a study released last August by Zhenchao Qian of Ohio State University. The rate is closer to one-third for 25- to 34-year-olds, says Kim Parker, the lead researcher on another recent survey, “The Boomerang Generation.”
Some parents are straining under the pressure. Financial advisers say it’s costly to host an adult-child, between $8,000 and $18,000 a year, according to a report in the Wall Street Journal. But it’s a burden more parents are bearing: Some 22.6 million adults aged 18-34 lived at home in 2012, a number that’s jumped 18% in the last decade, the U.S. Census found. The ABC sitcom was based on writer and actress Claudia Lonow’s own experiences of living at home after getting divorced. The TV version features a young woman (played by Sarah Chalke) who moves home with her daughter because of the financial crisis and a recent divorce.
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