After I graduated high school, I lived on my own and paid my own rent for five years. To me, I felt like there was no way I would ever move back with my parents. That was until I found myself 22, recently single, and 8 months pregnant. I was basically Khloe Kardashian without the net worth.
I felt embarrassed to be back in my hometown, in the same room I spent my childhood in. But, I’m definitely not the only one in this group of millennials whose parents, at some point in their adult lives, have been their roommates.
It turns out that in the United States, 35% of people ages 18 to 35 still live with their parents. The majority of millennials living with their parents was in New Jersey, with 47% of millennials still rooming with mom and dad. The reason for millennials moving back in with their parents is due to the fact that the majority are in thousands of dollars of student debt, like myself.
The average salary is also not conducive to rising housing prices either. To many millennials it makes sense to room with Mom and Dad, and save money to pay off debts or to put a down payment on their own home. It’s not a matter of not being able to let go, but rather a way to not put ourselves in financial ruin due to the gross economic card we’ve been handed. In my opinion anyways.