Why Gen Zers are setting a new record — for moving back in with their parents
ByAdriana Diaz
November 16, 2022 5:57pm
Updated
An increasingly large number of young adults are living at home with their parents -- and they're not all rushing to move out.
They’re the nest generation.
Gen Zers and young millennials aren’t flying the coop. They’re living at home with their parents in greater numbers than any generation in recent history.
54% of Gen Z are choosing to live with their parents given the current economic climate, according to a new report of over 300 adults ages 18 to 25 conducted online by the Harris Poll and commissioned by DailyPay, a financial services company. A recent Pew Research Center study found that one quarter of US adults ages 25 to 34 were living in a multigenerational family household in 2021. But in comparison, in 1971, just 9% of adults of the same age were living in a multigenerational home, while in 2011, roughly 20% were.
While inflation and the overall state of the economy are driving the trend, another Pew study, from 2020, found that there was an even greater percentage of 18- to 29-year-olds living with their parents than there were during the Great Depression. Some young adults readily admit that they’re just not ready to adult.
“Like, I don’t know how people live on their own right away after graduation,” Nada Torbica, a 22-year-old from Boca Raton, Fla., told The Post. In a viral TikTok video with nearly a million views, she listed the pros and cons of living at home in her 20s: “You work to save 100% of your paychecks. Free meals, can spend paychecks on traveling, gets to live with family dog, no real adult responsibilities.”
Source:https://nypost.com/2022/11/16/gen-z-and-millennials-moved-home-and-they-arent-leaving/