Jennifer Lawrence does it. So does Taylor Lautner. And now, a new report says more people in their generation are, too. A new Pew Research Center analysis of U.S. Census Bureau data shows that 36 percent of the nation’s young adults ages 18 to 31 were living in their parents’ home in 2012. That’s the highest share in at least four decades.
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MTV reported as late as April 2013 that millennials Lawrence, Lautner and Demi Lovato are among the celebrities still living with their parents. The MTV piece quotes the stars as liking the emotional support network of family as one reason. Clearly, money probably isn’t an issue for these movie stars, but it is a primary factor for the millennials who are crashing their parents’ digs. The Pew analysis cites three driving factors for the higher share of Gen Y’ers living at home:
Declining employment. The percentage of 18- to 31-year-olds with jobs dropped from 70 percent in 2007 to 63 percent in 2012.
Rising college enrollment. The percentage of 18- to 24-year-olds enrolled in college rose from 35 percent in March 2007 to 39 percent in March 2012.
Declining marriage. The percentage of 18- to 31-year-olds who were married dropped from 30 percent in 2007 to 25 percent in 2012.
So how long is too long to live at home? A Coldwell Banker Real Estate survey of 2,000 Americans showed that Americans disagree. Respondents to the survey ages 55 and older think it’s just fine for adults to live at home with parents for as long as three years, but 18- to 34-year-olds answered it’s OK for five years, according to CNNMoney’s report on the survey. This Coldwell Banker infographic shows more opinions and a psychotherapist’s tips for parents and adult children living together.
Analysis by online salary database PayScale revealed that millennials should pursue math and science if they want to earn the big bucks (and avoid living at home as adults.) These Gen Y Job Stats provide insight into other top-paying jobs for this generation. Or check out these “20 Job Rules for Millennials” by Forbes.com.
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How old is too old to live at home with your parents? Share your opinion or experience on Twitter or in the comments section below.