Hi Mom, I’m Home!
“One in five people in their 20s and early 30s is currently living with his or her parents. And 60 percent of all young adults receive financial support from them. … The common explanation for the shift is that people born in the late 1980s and early 1990s came of age amid several unfortunate and overlapping economic trends. Those who graduated college as the housing market and financial system were imploding faced the highest debt burden of any graduating class in history. Nearly 45 percent of 25-year-olds, for instance, have outstanding loans, with an average debt above $20,000… And more than half of recent college graduates are unemployed or underemployed, meaning they make substandard wages in jobs that don’t require a college degree.”
Read on: It’s Official: The Boomerang Kids Won’t Leave