A new Pew Research Center study reveals that more millennials than ever are moving back home to live with their parents. Additionally, more households than ever, over 18% of the population, are multi-generational, meaning more than two generations live in the same house.
The study found that 23.6% of people aged 25 to 34 lived with their parents, grandparents or both in 2012. That’s up from 18.7% in 2007.
Surprisingly, it’s mostly young men that are more likely to move back home. According to the study, 26% of men aged 25-34 were living in multi-generational households compared to only 21% of women in that age group.
Why the growing trend? Since the 2007 global financial crisis, it has generally become more difficult to find jobs despite the fact that millennials are more educated than any other generation. With the lack of employment opportunities, that childhood home you can always fall back on is a great chance to reach financial stability given the circumstances.
So don’t be afraid to move back home after college. It’s the smartest thing to do if you don’t have a job, and plus, everyone’s doing it.