Here’s some hope and change for you. More young Americans than ever are being forced to move back home with their parents thanks to the Obama economy. This is some recovery, eh?
The share of young adults living with their parents edged up last year despite improvements in the economy—a sign that the effects of the recession are lingering.
In a report on the status of families, the Census Bureau on Tuesday said 13.6% of Americans ages 25 to 34 were living with their parents in 2012, up slightly from 13.4% in 2011. Though the trend began before the recession, it accelerated sharply during the downturn. In the early 2000s, about 10% of people in this age group lived at home.
The figures are the latest evidence of the recession’s continuing impact on young Americans, who are finding it harder to land jobs and take on the costs of setting up their own homes. (Read More)
On the bright side, the article goes on to note that there is much less stigma associated with moving back home than there used to be. That makes sense, seeing that so many people are doing it. At the rate things are going adolescence will last into middle age, or later.