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WDKX.com » Blog » Record number of young adults living with their parents
Aug 2nd 2013 8:15 am
Record number of young adults living with their parents
by News

A record 21.6 million young adults in America were living in their parents in 2012, according to a new Pew Research Center poll on the so-called millennial generation.

It's the highest number in at least four decades in the United States.

"My parents really didn't want me to take out loans and I kind of agreed that it would hold me back in the future, so I decided that living at home would be OK, at least for my bachelor's degree," said Stephanie Levonne, 20, a college student living at home with her parents in New York.

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36 percent of young adults, ages 18-31, have either moved back in with their parents or never left home, compared to 32 percent prior to the 2007 recession, and 34 percent when the recession officially ended in 2009.

Charlie Wieser, 22, graduated from Duke University in May 2012. He's working in a start-up with three other friends, and moved back in with his parents.

"We're not paying ourselves yet so there's definitely no income to support myself outside of my home," said Wieser.

Most say reasons behind living at home include less job opportunities, pursuing further education and not getting married young.

Source: CBS News