2/23/2017

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Moving Back In With Parents

Why are so many adult children moving back home with their parents?

More and more young adults are moving back home with their parents or not moving out in the first place. They are moving back, not because they want to, but because many of them don't have a choice. The state of the economy has a lot to do with how people are living their lives and where they are living.

Although housing prices and interest rates have dropped substantially over the past few years, many young adults cannot take advantage. This is because of high unemployment rates, huge debt burdens, high student loan balances, and bad credit scores.

Added to that, with so many people moving out of their homes due to foreclosure, the rental markets have gone through the roof. Many people just can't afford to pay the high costs to rent and this is being seen all over the country.

Even if you have a decent paying job, it may not be enough to pay for food, clothing, insurance, car note, and the rent. In such a case, decisions have to be made that works in favor of reason. Moving back home with parents may be the best course of action.

In many cases, two or more people may have to move in together to share the bills. This is a great idea as long as everyone is on the same page when it comes to what is expected of each other. It is a fact that sharing living accommodations has torn many friendships apart.

It is easier to rent or buy a home and make your own living arrangements if you are married. Both spouses, in most cases, have the same goals. This is especially true when children are involved.

It was recently reported that in recent years, nearly 80% of college graduates have had to return home to live with their parents because they can't find work or rent is too high. The report also stated that most high school graduates are still living at home.

This is a far cry from just a few years ago when moving away from home as young as possible was part of our cultural tradition. You finished high school, went to college or got a decent paying job, and then got your own apartment. Rent was relatively cheap and if you saved your money, you could buy a home.

Although most parents won't kick their children to the curb no matter how old they are, they do expect them to be respectful and to live by the rules they have set. This shouldn't be to hard for young adults to understand, although strict rules may cause friction.

Young adults don't want to be a burden on their parents. They want to get a job and be independent. This has always been the case but, right now, times are tough and many parents have found that they live in a home with revolving doors.

With the economy the way it is, grown children may not have a choice and it is disheartening to many parents. But they understand that eventually, the economy will improve and young adults will find jobs and a way to make it on their own.

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