More Young Adults Living With Parents [POLL/AUDIO]
The entrance into typical “adulthood” has become more of a challenge for many people. Several factors, mostly economical, have forced more of America’s 20-to-34-year-olds to live at home with Mom and Dad.
According to a study from US2010 released Monday, 24% of adults aged 24 to 30 lived with their parents during the Great Recession (2007-2009). That number was 17% in 1980. Those under 25 experienced the biggest spike in the given time span, from 32% living at home to a record 43%.
“Over the course of the last 25 to 30 years, wages and salaries that people have been earning really haven’t kept up with the cost of living,” explained Rider University Sociologist Dr. Barry Truchil.
Truchil noted the recent economic crisis added to the problem as well, causing a lack of hiring, higher student loan debt and a harder time for would-be homebuyers to obtain a loan.
Education can also be a reason for the shifting trend, according to Rutgers Sociology Professor Deborah Carr.
“Young people are staying in school longer; they’re going to graduate school. We’re pushing things like marriage, babies and homeownership to much older ages,” she said.
In the past, Carr said, someone could find an adequate job and make a decent living with only a high school diploma. Over the years, though, students have been raised to believe they need a college degree or more to fully succeed.
Living at home post-college and beyond is no longer uncommon, according to Truchil. It has become more of the norm, and the social stigma attached to it has weakened.
Listen to Professor Carr’s comments on how parents view this trend:
In some cases, parents are charging rent to their children for their extended at-home stay, as a way to teach financial responsibility.