Home Again, Like a Boomerang

HOME AGAIN, LIKE A BOOMERANG! The Boomerang Generation Makes the Case for Living with the Folks WHILE A FAILURE TO LAUNCH ON YOUR OWN USED TO HAVE NEGATIVE IMPLICATIONS, TODAY A SIGNIFICANT NUMBER OF ADULTS ARE MOVING BACK TO THEIR CHILDHOOD HOMES-AND NOT NECESSARILY FOR A FREE RIDE. AN ANALYSIS BY PEW RESEARCH, PUBLISHED IN 2012, FOUND THAT THE NUMBER OF AMERICANS LIVING IN A MULTI-GENERATIONAL FAMILY HOUSEHOLD IS THE HIGHEST IT HAS BEEN IN DECADES. WHAT CREATED THIS BOOM? WE TAKE A LOOK AT THE EVOLUTION OF THE BOOMERANG GENERATION. IN 1993, A NEWSWEEK POLL FOUND THAT 80 PERCENT OF PARENTS WITH YOUNG TIMES ARE TOUGHER! CHILDREN EXPECTED THEIR KIDS TO BE FINANCIALLY INDEPENDENT BY AGE 22. TODAY, ONLY 67 PERCENT HOLD THE SAME VIEW. A SURVEY BY PEW RESEARCH CENTER FOUND THAT MOST AMERICANS AGREE TIMES ARE DIFFICULT FOR THIS GENERATION OF YOUNG ADULTS. THE AMERICAN PUBLIC BELIEVES TODAY'S YOUNG ADULTS HAVE IT HARDER: 41% 100 % BELIEVE THAT YOUNG ADULTS, RATHER 80% THAN MIDDLE-AGED OR OLDER ADULTS, HAVE 60% THE TOUGHEST TIME 82% 75% 71% 69% IN TODAY'S ECONOMY. 40% SAY FINDING A JOB SAY IT'S HARDER SAY IT'S HARDER TO SAY IT'S HARDER TO IS HARDER FOR YOUNG NOW TO SAVE FOR PAY FOR COLLEGE. BUY A HOME, 20% ADULTS THAN IT WAS THE FUTURE. FOR THEIR PARENTS' GENERATION. ALL IN THE FAMILY PERCENT OF AMERICANS AGED 25-34 LIVING IN MULTI-GENERATIONAL HOMES PEW RESEARCH FOUND THAT 29 1980 11% PERCENT OF ADULTS AGES 25 TO 34 HAVE MOVED BACK HOME 2000 16% WITH THEIR PARENTS AND LIVE IN A MULTI-GENERATIONAL 2010 22% HOUSEHOLD, THUS BECOMING THE BOOMERANG GENERATION. HEADING HOME 61 PERCENT OF AMERICANS AGES 25 TO 34 SAY A FRIEND OR A FAMILY MEMBER HAS MOVED BACK IN WITH A PARENT OVER THE PAST FEW YEARS, CITING ECONOMIC CONDITIONS. 3 IN 10 PARENTS OF ADULT CHILDREN (29 PERCENT) REPORTED THAT THEIR CHILD HAS MOVED BACK HOME WITHIN THE LAST FEW YEARS BECAUSE OF THE ECONOMY. NO SWEET LIFE 1234 1234 1234 123 48 PERCENT REPORTED PAYING RENT TO THEIR PARENTS. 89 PERCENT HELPED WITH HOUSEHOLD EXPENSES. ONLY 8 PERCENT SAID THEY REGULARLY RECEIVED FINANCIAL ASSISTANCE FROM FAMILY. HOW MUCH IS YOUR FINANCIAL FINANCIAL TIES SITUATION LINKED WITH YOUR PARENTS' FINANCIAL SITUATION? WHETHER ADULTS LIVING IN A MULTI-GENERATIONAL HOME ARE EQUALLY CONTRIBUTING TO THE HOUSEHOLD OR IF THE PARENTS ARE FINANCIALLY SUPPORTING THEIR ADULT CHILDREN, OR VICE VERSA, THE BOOMERANG GENERATION IS FINDING THEIR FINANCIAL SITUATION IS INTERTWINED WITH THEIR PARENTS' FINANCIALS, MUCH MORE THAN THEIR PEERS WHO ARE NOT LIVING AT HOME. GREAT DEAL/SOME NOT TOO MUCH/NOT AT ALL DON'T KNOW ALL 25-TO-34-YEAR-OLDS 38% 60% LIVING WITH PARENTS 53% 46% NOT LIVING WITH PARENTS 32% 66% FINDING THE GOOD EXPLORING THE EFFECTS OF THE PARENT-BOOMERANG RELATIONSHIP: WHILE LIVING AT HOME AGAIN IS A LESS-THAN-IDEAL SITUATION, MOST BOOMERANGS SAY THE MULTI- GENERATIONAL LIVING ARRANGEMENT HASN'T PUT A STRAIN ON THE RELATIONSHIP WITH THEIR PARENTS. 24 PERCENT SAY IT HAS 25 PERCENT SAY IT HAS 48 PERCENT SAY THERE HAS ONLY A QUARTER OF YOUNG ADULTS BEEN GOOD FOR THE BEEN BAD FOR THE BEEN NO DIFFERENCE IN LIVING WITH THEIR PARENTS BELIEVE RELATIONSHIP. RELATIONSHIP. THE FAMILY DYNAMIC. IT HAS BEEN BAD FOR THEIR RELATIONSHIP TO LIVE TOGETHER. THE SILVER LINING MULTI-GENERATIONAL LIVING HAS KEPT FAMILIES FROM LIVING IN POVERTY. ADDITIONAL INCOME AND LINKED FINANCES HAVE KEPT MOST YOUNG ADULTS ABOVE THE POVERTY LINE, COMPARED TO THEIR COUNTERPARTS. ACCORDING TO CENSUS BUREAU DATA, THE POVERTY RATE FOR YOUNG ADULTS AGES 25 TO 34 WHO LIVED IN MULTI-GENERATIONAL HOUSEHOLDS WAS NEARLY 10 PERCENT 10 PERCENT COMPARED WITH A POVERTY RATE OF 17 PERCENT AMONG YOUNG ADULTS LIVING IN OTHER HOUSEHOLDS. 17 PERCENT 50% WHILE THE ROUGH ECONOMY HAD YOUNG ADULTS MOVING HOME TO RID THEMSELVES OF SOME FINANCIAL BURDEN, THEY WERE NOT DOING SO SIMPLY TO HAVE THEIR PARENTS BAIL THEM OUT. IN FACT, THE MAJORITY OF BOOMERANGS REMAIN SATISFIED WITH THEIR LIVING ARRANGEMENTS 78% AND UPBEAT ABOUT THEIR FUTURE FINANCES 77% m. my move SOURCES: CENSUS.GOV I PEWRESEARCH.ORG I NEWSWEEK.COM I PEOPLE-PRESS.COM -- ▬▬▬▬- I- ---- -- HOME AGAIN, LIKE A BOOMERANG! The Boomerang Generation Makes the Case for Living with the Folks WHILE A FAILURE TO LAUNCH ON YOUR OWN USED TO HAVE NEGATIVE IMPLICATIONS, TODAY A SIGNIFICANT NUMBER OF ADULTS ARE MOVING BACK TO THEIR CHILDHOOD HOMES-AND NOT NECESSARILY FOR A FREE RIDE. AN ANALYSIS BY PEW RESEARCH, PUBLISHED IN 2012, FOUND THAT THE NUMBER OF AMERICANS LIVING IN A MULTI-GENERATIONAL FAMILY HOUSEHOLD IS THE HIGHEST IT HAS BEEN IN DECADES. WHAT CREATED THIS BOOM? WE TAKE A LOOK AT THE EVOLUTION OF THE BOOMERANG GENERATION. IN 1993, A NEWSWEEK POLL FOUND THAT 80 PERCENT OF PARENTS WITH YOUNG TIMES ARE TOUGHER! CHILDREN EXPECTED THEIR KIDS TO BE FINANCIALLY INDEPENDENT BY AGE 22. TODAY, ONLY 67 PERCENT HOLD THE SAME VIEW. A SURVEY BY PEW RESEARCH CENTER FOUND THAT MOST AMERICANS AGREE TIMES ARE DIFFICULT FOR THIS GENERATION OF YOUNG ADULTS. THE AMERICAN PUBLIC BELIEVES TODAY'S YOUNG ADULTS HAVE IT HARDER: 41% 100 % BELIEVE THAT YOUNG ADULTS, RATHER 80% THAN MIDDLE-AGED OR OLDER ADULTS, HAVE 60% THE TOUGHEST TIME 82% 75% 71% 69% IN TODAY'S ECONOMY. 40% SAY FINDING A JOB SAY IT'S HARDER SAY IT'S HARDER TO SAY IT'S HARDER TO IS HARDER FOR YOUNG NOW TO SAVE FOR PAY FOR COLLEGE. BUY A HOME, 20% ADULTS THAN IT WAS THE FUTURE. FOR THEIR PARENTS' GENERATION. ALL IN THE FAMILY PERCENT OF AMERICANS AGED 25-34 LIVING IN MULTI-GENERATIONAL HOMES PEW RESEARCH FOUND THAT 29 1980 11% PERCENT OF ADULTS AGES 25 TO 34 HAVE MOVED BACK HOME 2000 16% WITH THEIR PARENTS AND LIVE IN A MULTI-GENERATIONAL 2010 22% HOUSEHOLD, THUS BECOMING THE BOOMERANG GENERATION. HEADING HOME 61 PERCENT OF AMERICANS AGES 25 TO 34 SAY A FRIEND OR A FAMILY MEMBER HAS MOVED BACK IN WITH A PARENT OVER THE PAST FEW YEARS, CITING ECONOMIC CONDITIONS. 3 IN 10 PARENTS OF ADULT CHILDREN (29 PERCENT) REPORTED THAT THEIR CHILD HAS MOVED BACK HOME WITHIN THE LAST FEW YEARS BECAUSE OF THE ECONOMY. NO SWEET LIFE 1234 1234 1234 123 48 PERCENT REPORTED PAYING RENT TO THEIR PARENTS. 89 PERCENT HELPED WITH HOUSEHOLD EXPENSES. ONLY 8 PERCENT SAID THEY REGULARLY RECEIVED FINANCIAL ASSISTANCE FROM FAMILY. HOW MUCH IS YOUR FINANCIAL FINANCIAL TIES SITUATION LINKED WITH YOUR PARENTS' FINANCIAL SITUATION? WHETHER ADULTS LIVING IN A MULTI-GENERATIONAL HOME ARE EQUALLY CONTRIBUTING TO THE HOUSEHOLD OR IF THE PARENTS ARE FINANCIALLY SUPPORTING THEIR ADULT CHILDREN, OR VICE VERSA, THE BOOMERANG GENERATION IS FINDING THEIR FINANCIAL SITUATION IS INTERTWINED WITH THEIR PARENTS' FINANCIALS, MUCH MORE THAN THEIR PEERS WHO ARE NOT LIVING AT HOME. GREAT DEAL/SOME NOT TOO MUCH/NOT AT ALL DON'T KNOW ALL 25-TO-34-YEAR-OLDS 38% 60% LIVING WITH PARENTS 53% 46% NOT LIVING WITH PARENTS 32% 66% FINDING THE GOOD EXPLORING THE EFFECTS OF THE PARENT-BOOMERANG RELATIONSHIP: WHILE LIVING AT HOME AGAIN IS A LESS-THAN-IDEAL SITUATION, MOST BOOMERANGS SAY THE MULTI- GENERATIONAL LIVING ARRANGEMENT HASN'T PUT A STRAIN ON THE RELATIONSHIP WITH THEIR PARENTS. 24 PERCENT SAY IT HAS 25 PERCENT SAY IT HAS 48 PERCENT SAY THERE HAS ONLY A QUARTER OF YOUNG ADULTS BEEN GOOD FOR THE BEEN BAD FOR THE BEEN NO DIFFERENCE IN LIVING WITH THEIR PARENTS BELIEVE RELATIONSHIP. RELATIONSHIP. THE FAMILY DYNAMIC. IT HAS BEEN BAD FOR THEIR RELATIONSHIP TO LIVE TOGETHER. THE SILVER LINING MULTI-GENERATIONAL LIVING HAS KEPT FAMILIES FROM LIVING IN POVERTY. ADDITIONAL INCOME AND LINKED FINANCES HAVE KEPT MOST YOUNG ADULTS ABOVE THE POVERTY LINE, COMPARED TO THEIR COUNTERPARTS. ACCORDING TO CENSUS BUREAU DATA, THE POVERTY RATE FOR YOUNG ADULTS AGES 25 TO 34 WHO LIVED IN MULTI-GENERATIONAL HOUSEHOLDS WAS NEARLY 10 PERCENT 10 PERCENT COMPARED WITH A POVERTY RATE OF 17 PERCENT AMONG YOUNG ADULTS LIVING IN OTHER HOUSEHOLDS. 17 PERCENT 50% WHILE THE ROUGH ECONOMY HAD YOUNG ADULTS MOVING HOME TO RID THEMSELVES OF SOME FINANCIAL BURDEN, THEY WERE NOT DOING SO SIMPLY TO HAVE THEIR PARENTS BAIL THEM OUT. IN FACT, THE MAJORITY OF BOOMERANGS REMAIN SATISFIED WITH THEIR LIVING ARRANGEMENTS 78% AND UPBEAT ABOUT THEIR FUTURE FINANCES 77% m. my move SOURCES: CENSUS.GOV I PEWRESEARCH.ORG I NEWSWEEK.COM I PEOPLE-PRESS.COM -- ▬▬▬▬- I- ---- -- HOME AGAIN, LIKE A BOOMERANG! The Boomerang Generation Makes the Case for Living with the Folks WHILE A FAILURE TO LAUNCH ON YOUR OWN USED TO HAVE NEGATIVE IMPLICATIONS, TODAY A SIGNIFICANT NUMBER OF ADULTS ARE MOVING BACK TO THEIR CHILDHOOD HOMES-AND NOT NECESSARILY FOR A FREE RIDE. AN ANALYSIS BY PEW RESEARCH, PUBLISHED IN 2012, FOUND THAT THE NUMBER OF AMERICANS LIVING IN A MULTI-GENERATIONAL FAMILY HOUSEHOLD IS THE HIGHEST IT HAS BEEN IN DECADES. WHAT CREATED THIS BOOM? WE TAKE A LOOK AT THE EVOLUTION OF THE BOOMERANG GENERATION. IN 1993, A NEWSWEEK POLL FOUND THAT 80 PERCENT OF PARENTS WITH YOUNG TIMES ARE TOUGHER! CHILDREN EXPECTED THEIR KIDS TO BE FINANCIALLY INDEPENDENT BY AGE 22. TODAY, ONLY 67 PERCENT HOLD THE SAME VIEW. A SURVEY BY PEW RESEARCH CENTER FOUND THAT MOST AMERICANS AGREE TIMES ARE DIFFICULT FOR THIS GENERATION OF YOUNG ADULTS. THE AMERICAN PUBLIC BELIEVES TODAY'S YOUNG ADULTS HAVE IT HARDER: 41% 100 % BELIEVE THAT YOUNG ADULTS, RATHER 80% THAN MIDDLE-AGED OR OLDER ADULTS, HAVE 60% THE TOUGHEST TIME 82% 75% 71% 69% IN TODAY'S ECONOMY. 40% SAY FINDING A JOB SAY IT'S HARDER SAY IT'S HARDER TO SAY IT'S HARDER TO IS HARDER FOR YOUNG NOW TO SAVE FOR PAY FOR COLLEGE. BUY A HOME, 20% ADULTS THAN IT WAS THE FUTURE. FOR THEIR PARENTS' GENERATION. ALL IN THE FAMILY PERCENT OF AMERICANS AGED 25-34 LIVING IN MULTI-GENERATIONAL HOMES PEW RESEARCH FOUND THAT 29 1980 11% PERCENT OF ADULTS AGES 25 TO 34 HAVE MOVED BACK HOME 2000 16% WITH THEIR PARENTS AND LIVE IN A MULTI-GENERATIONAL 2010 22% HOUSEHOLD, THUS BECOMING THE BOOMERANG GENERATION. HEADING HOME 61 PERCENT OF AMERICANS AGES 25 TO 34 SAY A FRIEND OR A FAMILY MEMBER HAS MOVED BACK IN WITH A PARENT OVER THE PAST FEW YEARS, CITING ECONOMIC CONDITIONS. 3 IN 10 PARENTS OF ADULT CHILDREN (29 PERCENT) REPORTED THAT THEIR CHILD HAS MOVED BACK HOME WITHIN THE LAST FEW YEARS BECAUSE OF THE ECONOMY. NO SWEET LIFE 1234 1234 1234 123 48 PERCENT REPORTED PAYING RENT TO THEIR PARENTS. 89 PERCENT HELPED WITH HOUSEHOLD EXPENSES. ONLY 8 PERCENT SAID THEY REGULARLY RECEIVED FINANCIAL ASSISTANCE FROM FAMILY. HOW MUCH IS YOUR FINANCIAL FINANCIAL TIES SITUATION LINKED WITH YOUR PARENTS' FINANCIAL SITUATION? WHETHER ADULTS LIVING IN A MULTI-GENERATIONAL HOME ARE EQUALLY CONTRIBUTING TO THE HOUSEHOLD OR IF THE PARENTS ARE FINANCIALLY SUPPORTING THEIR ADULT CHILDREN, OR VICE VERSA, THE BOOMERANG GENERATION IS FINDING THEIR FINANCIAL SITUATION IS INTERTWINED WITH THEIR PARENTS' FINANCIALS, MUCH MORE THAN THEIR PEERS WHO ARE NOT LIVING AT HOME. GREAT DEAL/SOME NOT TOO MUCH/NOT AT ALL DON'T KNOW ALL 25-TO-34-YEAR-OLDS 38% 60% LIVING WITH PARENTS 53% 46% NOT LIVING WITH PARENTS 32% 66% FINDING THE GOOD EXPLORING THE EFFECTS OF THE PARENT-BOOMERANG RELATIONSHIP: WHILE LIVING AT HOME AGAIN IS A LESS-THAN-IDEAL SITUATION, MOST BOOMERANGS SAY THE MULTI- GENERATIONAL LIVING ARRANGEMENT HASN'T PUT A STRAIN ON THE RELATIONSHIP WITH THEIR PARENTS. 24 PERCENT SAY IT HAS 25 PERCENT SAY IT HAS 48 PERCENT SAY THERE HAS ONLY A QUARTER OF YOUNG ADULTS BEEN GOOD FOR THE BEEN BAD FOR THE BEEN NO DIFFERENCE IN LIVING WITH THEIR PARENTS BELIEVE RELATIONSHIP. RELATIONSHIP. THE FAMILY DYNAMIC. IT HAS BEEN BAD FOR THEIR RELATIONSHIP TO LIVE TOGETHER. THE SILVER LINING MULTI-GENERATIONAL LIVING HAS KEPT FAMILIES FROM LIVING IN POVERTY. ADDITIONAL INCOME AND LINKED FINANCES HAVE KEPT MOST YOUNG ADULTS ABOVE THE POVERTY LINE, COMPARED TO THEIR COUNTERPARTS. ACCORDING TO CENSUS BUREAU DATA, THE POVERTY RATE FOR YOUNG ADULTS AGES 25 TO 34 WHO LIVED IN MULTI-GENERATIONAL HOUSEHOLDS WAS NEARLY 10 PERCENT 10 PERCENT COMPARED WITH A POVERTY RATE OF 17 PERCENT AMONG YOUNG ADULTS LIVING IN OTHER HOUSEHOLDS. 17 PERCENT 50% WHILE THE ROUGH ECONOMY HAD YOUNG ADULTS MOVING HOME TO RID THEMSELVES OF SOME FINANCIAL BURDEN, THEY WERE NOT DOING SO SIMPLY TO HAVE THEIR PARENTS BAIL THEM OUT. IN FACT, THE MAJORITY OF BOOMERANGS REMAIN SATISFIED WITH THEIR LIVING ARRANGEMENTS 78% AND UPBEAT ABOUT THEIR FUTURE FINANCES 77% m. my move SOURCES: CENSUS.GOV I PEWRESEARCH.ORG I NEWSWEEK.COM I PEOPLE-PRESS.COM -- ▬▬▬▬- I- ---- --