"Boomerang Kids": Adult Millennials Returning Home Is Crushing Baby Boomer Budgets

Tyler Durden's picture

We've noted several times in recent months that, despite the 'economic recovery', a record number of young 'adults' are moving back home with mom and dad after college and staying there well into their 30's. 

Now, as confirmed by a recent study conducted by Fidelity and the Stanford Center on Longevity, the added stress of caring for all those 'adult' children is putting a severe emotional and financial strain on Baby Boomers with over 75% saying their adult children are cutting into their budgets and over 50% saying they're generally less happy about life.  Per Fidelity:

Adult children who move back home is a common event mdash; one in nine Boomer parents surveyed said their kids returned "to the nest" in the past year. And it's taking a toll: 68 percent of parents reported they are more stressed, and more than half said they are less happy (53 percent), less satisfied (54 percent) and have less leisure time (53 percent). Those new housemates come at a cost: 76 percent of parents said they face higher expenses. The health impacts are significant for women, as 46 percent reported sleeping worse and 40 percent reported gaining weight.

At one point in time in America, living at home with mom and dad after crossing out of your teenage years and into your 20s was embarrassing and something that was generally avoided at all costs.  And while hard times come and go, 20-somethings who were forced back into their parents' care worked their tails off until they could save up enough money to once again regain their freedom.

That said, these Boomer parents shouldn't expected their basement-dwelling snowflakes to leave the nest, for the second time, anytime in the near future because, as we pointed out a few weeks ago, roughly one-third of all millennials live at home with their parents and one-fourth of them can't be bothered with enrolling in school or finding a job.

According to the following chart from Bloomberg, there are 2.2 million millennials who live at home with mom but neither attend classes nor have a job.  Of those, 40% of them are already in their 30's, they're predominantly white and have a high school diploma of less.

 

And since they're not employed, it's only logical that 90% of the millennials living at home last year are still there this year. 

"Almost 9 in 10 young people who were living in their parents’ home a year ago are still living there today, making it the most stable living arrangement for young adults," the report said. "In 2005, the majority of young people lived independently in their own household (either alone, with a spouse, or an unmarried partner), which was the predominant living arrangement in 35 states. By 2015—just a decade later—only six states had a majority of young people living independently."

Meanwhile, for the first time in history, more young adults today are living at home with mom and dad than with a spouse.

Millennials

 

We continue to be shocked that all of those kids out there with $250,000 Art and Anthropology degrees are finding it difficult to land their dream jobs.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
idea_hamster's picture

Good. The most self-centered, self-serving generation finally has to deal with something besides what they want.

JRobby's picture

By design!

Accelerate boomer deaths. They want them dead.

They can't wait until the only remaining population are people that graduated HS (or didn't) after 2000.

techpriest's picture

I noticed that the real shift in the numbers, was from married to unmarried households (aka living in sin), and moving in with roommates. What are the age ranges, and how many college kids (living with roommates) are in this sample?

Still, decline in marriage -> decline in having anything to want to defend -> decline in society.

NoDebt's picture

I have told my Dad at least a dozen times he better pay off my student loan so he can live debt free.  

AVmaster's picture

Speaking of boomers....

 

It was right around when they became adults that shit started falling apart...

Bastiat's picture

1913? 1917? 1929? 1963? 1971?

Schlump's picture

ZH loves to blame the victims.

Poor buggers have no chance of finding jobs .... so let's sneer at them by calling them "snowflakes". Makes good ZH sense!

tmosley's picture

Boomers are less happy with their lives?

Quick, raise tuition 175% to fund the production of the world's largest violin!

AltRight Girl's picture

The chickens are coming home to roost.

Some libtard cuck aparently wanted a black to roost his chick, and both kaffir lovers ended up with their throats slit. 

African Immigrant Charged with Slitting Two Boston Doctors’ Throats and Shooting at Police

 

john doeberg's picture

Thats what BLM calls a premature menage-a-trois

fleur de lis's picture

There was no good reason that a trashbag like him should have been admitted to begin with.

What did he bring to build a better society?

Absolutely nothing.

Not even good will.

He was a trashbag when he was living in his dump of origin and he should be returned asap and forbidden to return for any reason.

In fact all newcomers should be kicked back for bad behavior for anything worse than a parking ticket.

After the 5 year probationary period prior to citizenship, there should be a 20 year retroactive expulsion policy upon receipt of citizenship.

This is a perfect time to import 4 million whites from South Africa who would add to us professionally, economically, and every other way.

But our DC "leaders" prefer immigrants of a more problematic nature.

This whole county is tuning into a lawless dump.

And that includes far too many office holders.

 

 

 

 

ghengis86's picture

I got my first job at 14 and have always been employed since then. Not always my dream job or what I even liked doing, but I'm not too proud to do "low" work to put food on the table and stay off the dole. Left the house at 18 after HS graduation and never moved back.

Employment is actually your choice. Some just choose not to be janitors or garbage men. The incentives for not working fucks things up, welfare from daddy or the Fed is still welfare.

tmosley's picture

When you have to pay a mortgage payment without even owning a house, you HAVE to have a high paying job. And they were promised to young people continuously: "go to college and you will get a good job". Student loan debt should be thrown out based solely on that fraud.

Older people didn't face the enormous social pressure that younger generations have faced to go to school, and if they did go to school, tuition was low enough that they could pay for it by working during the summer.

SolidAssets's picture

she was a waitress in a cocktail bar now she owns a jet... http://bit.ly/2jdTzrM

aliens is here's picture

Whores are in high demand in refugees camps.

aliens is here's picture

Whores are in high demand in refugees camps.

fleur de lis's picture

Younger people are at fault for taking out huge loans to learn subjects that will never land a job.

 

SolidAssets's picture

she was a waitress in a cocktail bar now she owns a jet... http://bit.ly/2jdTzrM

tmosley's picture

No, they learned subjects that they were told would provide them with jobs. Loads of architects, scientists, even computer guys coming into the job market to find it flooded. No-one is talking about the tiny minorities that got gender studies degrees.

When you set up a system with the stated goal of getting everyone to go to college (funded mostly through loans), but have a system where only perhaps 15% of jobs actually need skills learned in college, 85% of the time, it will end in tears, with former students too poor and encumbered to start families. This is systematic genocide.

how_this_stuff_works's picture

"ZH loves to blame the victims.

Poor buggers have no chance of finding jobs .... so let's sneer at them by calling them "snowflakes".

Victim my ass.

My sibling has a stepson whose mummy has always told him how "special" he is. After graduating with a degree in computer sciences he has worked one regular job that I am aware of. It lasted all of 6 months. He's worked freelance since. He and his girl moved to a larger city in state. After a couple of years, they have returned from big city life and now live with his daddy and stepmummy. He's too lazy to even use a spell checker. Previews NONE of his "work" online so others may see it. Most freelancers with creditable work display it because it's advertising. Heading into his late 20s.

Snow FLAKE.

Chupacabra-322's picture

@ JRobby,

All done by Design, all done by Agenda.

SomethingSomethingDarkSide's picture

Boomers ended The Gold Standard.

Boomers lowered rates to unheard of lows, driving up costs of housing, autos, food - everything.

Boomers opened the spigots to federal college funding, allowing for exponential tuition cost growth. 

Now, these kids, saddled with the sins of their parents and grandparents, are responsible for the broken situation in which they now live?

Just like blaming the student for a shitty teacher and broken school system.

Fuck all of you old timers, you faux hippy socialist know nothings - we should let your social security be collectible at age 80, if you can fucking make it with your alcoholism and cigarette addictions THAT THE YOUTH NOW ARE MANDATED TO PAY.

Get it?  Fuck you.

 

Sincerely,

An Informed Millenial

 

Ps - fuck you

Seasmoke's picture

B-I-N-G-O.

And boomers love that stupid fucking game !!!

lil dirtball's picture

> fuck you

Especially the shitheads who downhated you and had no balls for a reply.

silverserfer's picture

omg lol.  I     can't      evaan...  ugh....

Mr. Universe's picture

I don't even bother to wipe little shit stains like you off of my boots.

Best Regards,

Boomin Boomer

P.S. enjoy what we leave behind, sucker.

SomethingSomethingDarkSide's picture

Some spoiled brats just become spoiled adults.

Everyone you screw over is a shit stain?

You must be a hit at parties.

Or fun to hit, like a Pinata.

Mr. Universe's picture

You obviously have no clue how the world works and Jho really screwed you over, it wasn't no damn boomers. I haven't screwed anyone over and paid my way since I was 18 and didn't cry about what I didn't have, didn't demand a participation trophey or a safe space. You guys are beyond spoiled, just a festering pool of pus crying out "woah is me". Life is hard, it's even harder when you're stupid.

SomethingSomethingDarkSide's picture

Yeah, especially when you don't know the difference between Woe and Woah, prick.

Anectodal evidence is just that.  Send me a memo when someone in your generation elects to give a shit, because it looks, feels, and sounds like you aren't doing shit and are sitting on those hands mighty strong.

skipjack's picture

Nor do you, asswipe..it's woe, dufus.  Woe is me...because you exist. 

crazzziecanuck's picture

Children living at home is actually returning to the historical norm.  It was really on the boom period after the second world war where this idea of every adult moving away became normalized.  It was never sustainable.  Before 1945, the most common form of pension out there was the first-born son.

Our atomized, consumerist society was doomed to fail over the long term.  Here we are, on the crest of the wave.

Tugg McFancy's picture

Thank you, sir.

In reality the system wants kids out of the home so they buy another coffee pot, washing machine, dryer, fridge, set of cutlery etc etc bonus points if they stick all that shit on the credit card.

In Ze No's picture

In the 80s/90s when I worked outside of Boston, every single one of my circle of friends lived at home till their 30s often only leaving when they married. One brother/sister even had a summer place on the Cape while still living with Mom and Dad for the easy commute to work.

I rented because I was from out of state.  They actually had the audacity to condescend to me when I had to count pennies on a weekend or two. They were totally insensitive to the idea my situation might be different not sponging off of Mom and Dad for everything.

drdolittle's picture

Thank God someone actually understands it. Splintered, separated nuclear families with the old folks struggling on their own (not at 60, think more 80) with the young separated from the wisdom of the elderly is not the norm. I for one, hope at least one of my kids does live with me. Save money, help around the house and keep me and mom connected with the hip of the world.

Also, every elder generation has debased the younger one, it's what we do. I agree, this generation of boys is one of the weakest. The estrogens in their frankenfood is really fucking them up. That said, dividing amongst ourselves is what they planned on us doing. Divide and be conquered. 

We really only have a small subset of enemies. Let's kick their asses first, then you morons can continue the fight amongst yourselves.

Hint, yorgi, rottenshit, their cronies like bushis, clingons etc.

chiaroscuro's picture

I agree. Children were once a social and economic asset. A large family living either together or in close proximity was key to mutual survival. It’s not a bad thing to return to this historic norm but people’s mentalities have to change so that our focus is on working together to uphold the family rather than looking for handouts.

 

fockewulf190's picture

To think, the Great Reset will make the current situation look like "the good ol' days". Once this financial system implodes, forced to by the ultimate power of math, the stats your reading about in this article today will be hailed as a success from desperate future politicians trying to spread hope that the Great Reset may be starting to end.

tmosley's picture

You paid your way, eh? I'm sure you didn't profit at all from the booms that lead to the current perma-bust. I'm sure you haven't profited one iota from the transfer of purchasing power from capital (the source of young people's wages) to assets.

No, I'm sure you were on the streets throughout the 70's, 80's, and 90's protesting Fed policies that would destroy the next generations of Americans.

Wait, literally not one boomer did anything like that? Ohhhhhhhhhhh....

skipjack's picture

And just where are the Millenials protesting the Fed ?  Right, because they don't exist either, too busy sponging off dead broke Mom and Dad.

tmosley's picture

There have been armed Federal Reserve protests, carried out by millenials.

Not covered by the news.

Gnostech's picture

you talking about the stuff organized on 8ch? 

Ballin D's picture

5 year olds didn't demand participation trophies, their boomer parents demanded them for their children. Get fucking serious.

 

And you're going to blame millennials for Barack? White millennials elected his opponent (and had the highest independent vote of any demographic). He won on the back of the minorities that socialist boomer policy imported.

 

I won't defend the large portion of millennials who became socialists but you have some growing up to do with them, old man. physically remove them like all of you socialists.

aelfheld's picture

Nixon wasn't a baby boomer.  Neither was Carter.

 

 

SomethingSomethingDarkSide's picture

As mother fucking if any % of boomers will forego Social Security in light of this new found guilt over dooming future generations.

Take what you can get and go, that's what your generation is all about.  Collect until that shit is gone - because it will be.  Pointing fingers doesn't resolve your share of financial ass rape when you cash in, does it?

Pandelis's picture

well youmight be into smt ... one favorite phrase of boomer politicians until recently was that we should be fiscally responsible and not pass these problems to our great great great grandchildren ... somehow adding a few great depending onthe generosity of the speaker made it okay because the victim was way down the line

have not heard that bs talk as of late ... iguess everyone sees it it is aready here

chiquita's picture

Boomers ended The Gold Standard.

 

Just chiming in on aelfheld's comment to make sure SomethingSomething, who claims to be an "informed millenial", realizes that baby boomers DID NOT take the US off the gold standard.  It was Richard Nixon in 1974.  Tricky Dick was no baby boomer--I believe the term most used for his generation is something along the lines of "the greatest generation".   You might also look to them for a lot of the other stuff on the list given that much of the groundwork for those ills can be traced back to banking laws set up under Reagan and Bush 1, two more of the greatest generation's finest.

silverer's picture

I agree that Nixon and pulling Breton Woods was a major landmark in starting the downfall of the US. Both sides of the aisle were responsible. Lyndon Johnson introduced major socialism with his program in 1966 "The Great Society". That took under-educated blacks with a job and put them on the streets. Blacks before that had nuclear families and an unemployment rate near zero. Not anymore. I then skip to Bill Clinton, who invited Wall St. into everyone's bank account and investment accounts by repealing Glass Steagall. Both sides of the aisle again on that one. That's how our buddy Jon Corzine skipped prison after emptying the segregated accounts of MF Global customers when trying to cover a margin call on Italian bonds. Then along came Barack Obama, who added 10 trillion dollars to the national debt, so trying to raise interest rates now will simply immedialely destroy the US, because the higher interest rates would render unpayable amounts. Russia is the US enemy because they are not swimming in debt, so are an economic threat to the west. So the lies continue. Dear Millennials: the first thing to do is educate yourselves with the truth, or your basement will need a basement for YOUR kids, and also double as a fallout shelter.

williambanzai7's picture

Angry unemployed morons have strong opinions...

Hikikomori's picture

Someone's upset his parents kicked him out of their basement?

SomethingSomethingDarkSide's picture

Without getting into the details, i had no such opportunity. 

On my own for a long fucking time, doucher.

Next!