The study was published by the Pew Research Center that reveals more millennials than ever are moving back home to live with the parent’s. 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 ages 25 to 34 in 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 ages 25-34 were living in multi-generational households compared to only 21% of women in that age group.
Why are the numbers on a growing trend? Since the 2007 global financial crisis, it has generally become harder and harder to find jobs despite the fact that millennials are college educated now more than ever. 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.