Thursday, November 15, 2012

Homecoming

It's not exactly new, but it does seem to be a generational trend:
adult children are again moving back out of the family home with increasing employment opportunities. “Household growth is still volatile, but it has been trending upward. The pickup is probably related to job growth, which has enabled multigenerational households to spin off into multiple new homes,” noted Rampell. The rate of household formation in the U.S. has doubled from its average level during the downturn, and now is hovering close to pre-recession levels, according to Census data.

Meanwhile, the employment situation for recent graduates remains grim — the unemployment rate for 20- to 24-year-olds was 13.2 percent in October (double the unemployment rate for workers aged 25 and older), according to the Labor Department.
Leaving home used to be a hallmark of adulthood. So is adulthood being delayed, or is it now just less affordable?

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