Young Americans have always returned home after heading out into the world for the first time. Today, the number of Millennials living with parents are comparatively larger. What are the reasons behind the recent spike? The Great Recession, relationships and the workforce play important roles in this trending, practical living arrangement.
Richard Fry, senior researcher at the Pew Research Center takes us beyond the numbers to better understand the reality and what it means for Millennials, and their parents.
This interview was recorded on August 4, 2016.
Highlights:
Richard Frye breaks down the statistics around Millennials returning home. Millennials have endured several setbacks in the past decade and continue to return home in record numbers.
Highlights of the interview are included for convenient listening.
- Background, perception and parent/child dynamic (0:00)
- Reasons why Millennials are moving back home (04:00)
- Ethnicity and other social factors (9:05)
- Other living arrangements considered (13:40)
- Marriage, or the lack of marriage, continued (17:00)
Resources:
- A majority of young adults in US are living with parents for the first time since the Great Depression, September 4, 2020, Pew Research https://www.pewresearch.org/fact-tank/2020/09/04/a-majority-of-young-adults-in-the-u-s-live-with-their-parents-for-the-first-time-since-the-great-depression/
- Millennials living with parents? It’s not just a weak economy, May 27, 2016, Christian Science Monitor https://www.csmonitor.com/USA/Society/2016/0527/Millennials-living-with-parents-It-s-not-just-a-weak-economy
- The crisis generation: Millennials deal with another financial setback, January 26, 2021, Kansas City Star https://www.kansascity.com/news/business/personal-finance/article248667865.html