Moving Back in With Your Folks? Join the Club!
Moving home to live with your parents usually isn’t considered a major marker of success for an adult in their twenties or thirties. But it’s more common than it’s been in decades. In fact, if you’re among this growing group of adults, don’t worry. According to a report in the Wall Street Journal, more young Americans are living with their parents or other relatives than at any other point in the past 75 years.
“Despite a rebounding economy and recent job growth, the share of those between the ages of 18 and 34 doubling up with parents or other family members has been rising since 2005,” writes reporter Chris Kirkham.
The report goes on to state that, in the decade between 2005 and 2015, the number of American adults moving home has risen from just a third to about 40%. (Kirkham pulled these numbers from real estate tracker Trulia’s analysis of census figures.)
Who’s to Blame?
Kirkham postulates a few reasons for the sudden surge, including rising rental costs (especially rents in Boston) and stringent requirements for getting a mortgage. With housing more difficult to acquire, demand for new homes has dipped. This is somewhat surprising, writes Kirkham, because the millennial generation (those born between 1981 and 1997) is America’s largest in history.
He adds that millennials tend to marry or have children later than their predecessors, as well.
A CBS News report on the same study shares the sentiment. Writer Aime Picchi puts the blame on economic challenges facing millennials:
The phenomenon is tied to a few factors, ranging from society shifts to economic headwinds. For one, Americans are delaying marriage and starting families. But the bigger issue may be the triple whammy of low wages, student debt and rapidly escalating rents.
With a tough job market, soaring housing costs, and an average of $30,100 in student debt according Picchi, moving home with the folks can be an appealing option when available.
This matches with a recent Pew Research Center Report stating that, for the first time over a century, living with their parents in the most common living arrangement among Americans between the ages of 18 and 34. That’s right. If you’re a millennial moving home, you’re not the exception. You’re the rule. Now to see what it’s in the fridge . . .
Some Tips for Moving Home
- Don’t Keep Everything! Just take with you what you’ll want when you move out. If you’re moving to a place that’s already furnished, you don’t need two beds. Donating what you don’t need is a great way to downsize.
- Moving a single person from one bedroom to another is generally one of the smallest and easiest moves we do. So if you’re up for it, and you’re strapped for cash, consider moving yourself.
- If you want to save yourself the hassle of moving yourself, hire movers on weekdays. Also, try to have any beds or tables taken apart before they arrive. This can save a great deal of time and money.
Think Moving Home is a Sign of Failure?
Don’t be so hard on yourself. Just because you’re moving home doesn’t mean you can’t make an impact. Remember — according to the Pew Research Center Study, tiny Macedonia has the world’s highest share of young adults living at home with their parents. And those kids might have swung the U.S. Election.
Also, if your parents live in the suburbs and you’re bringing your stuff out there, you might want to drop us a line. Thanks to our flat travel fee, Boston Magazine calls us the best moving company for moving to the suburbs.
Ready to get a quote for a move? Click here and we’ll send you a moving estimate today!
Safe Responsible Movers – Boston Moving Company – (617) 784 3347