Study Shows 25 Percent of Connecticut’s Young Adults Have Moved Back in With Their Parents
They've been nicknamed the "Boomerang Generation," defined as young adults who have moved back into their parent's home according to a survey of 3,500 by ISoldMyHouse.com. I have two questions for parents currently housing a young adult - son or daughter or both who's moved back into your house. Do you let them have overnight guests? And how do you honestly feel about having them move back home?
Other poll results from the ISoldMyHouse.com website show that 31% of parents in Connecticut say they aren't thrilled about their young adult children moving back into their house, and 15% say they've had to put their retirement on hold.
I know precisely how these parents feel because one of our adult children has "boomeranged" back and forth over the last ten years. In our case, the last thing our son wants to do is live with mom and dad, although he did take the garbage out every Tuesday.
1 in 3 parents who had previous intentions to downsize the family home is now unable to do so. However, over 1 in 5 (22%) say they are considering upscaling to accommodate them.
The following are the top five states with the highest percentage of adult children moving home and the lowest rate.
STATES WITH THE HIGHEST PERCENTAGE OF BOOMERANGERS
- NEVADA - 67%
- NEW YORK - 66%
- CALIFORNIA - 62%
- NEW MEXICO - 61%
- ILLINOIS - 56%
STATES WITH THE LOWEST PERCENTAGE OF BOOMERANGERS
- WISCONSIN - 15%
- NORTH DAKOTA - 16%
- MISSISSIPPI - 18%
- COLORADO - 21%
- MONTANA - 23%
The reasons adult children choose to move back in with their parents are many. Over the last two decades, economic independence has steadily decreased, plus fewer young adults are getting married. Another reason could be that a son or daughter is battling addiction or mental illness. Other young adults who hold full-time jobs are asking to move home simply to save money.