Wednesday, September 23, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Remember the day your last adult child left for his or her final year at college, soon to graduate and be off and on their own? You thought to yourself, “Well, that was fun.” The tribulations of parenthood were over. You were looking forward to some of the pleasures of being an empty nester - your time will be your own, the house will be as clean and as organized as you want it to be, you’ll focus on your partner, get a good night’s sleep, peace and quiet will rule as the cacophony goes with them. They’ll only be back to visit.
Not so fast, boomer.
A recent study released by the Pew Research Center shows that for a record number of American families, they're back. After assessing the Census’s monthly Current Population Survey data, the non-partisan think-tank found that some 52% of 18-to-29-year-olds are now living with one or both parents.
Believing that the move was caused by the coronavirus pandemic, researchers postulated that it’s the first time on record that more than half of that age group has lived with their parents. Pew noted that the share of younger working-age adults living at home could have been higher during the Great Depression, but figures don't exist for that time period. The portion of youth living with their parents hit a low in 1960 and has steadily risen since, according to the study.
The youngest of young adults, the 18-24s, comprised the largest group at home, with 71% living with parents in July. The large closure of colleges and universities this spring had no effect on the numbers, because the survey considers unmarried students living in dorms as still basically living with their parents. All told, about 2.6 million young people moved in with parents between February and July.
So if you have one of those 2.6 million students in your home, you may discover that once again your time is no longer your own. Your house will be as clean and organized as you can get it at the moment, you will ignore your partner, worry-free sleep will be a thing of the past, and the cacophony will be booming off the walls.
Pretend they've only come for a visit.