Adult kids living at home on the rise?
kids find there's no place like home when their finances are in a tailspin or
their relationships in shambles.
The number of young adults ages 20 to 34 who lived with
their parents jumped from 17% in 1980 to 24% in 2007-09 — the Great
Recession— according to a detailed analysis out today.
The rise was sharpest among those under 25 — a new high of
43% vs. 32% in 1980 — but it increased largely across the board. Even among 30-
to 34-year-olds, nearly one in 10 lived with parents.
"This 'Great Recession' has had tremendous effects that
previous smaller recessions did not," says Zhenchao Qian, a sociology professor
State University and the author of the report for the US2010 Project, which
studies trends in American society. "The surprise mostly is that it's increasing
for every group."