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This trend has been most prominent amongyounger millennials and older Gen Zers aka genzennials dubbed the Boomerang Generation.
Whats Really Causing This?
One of the biggest factors behind this trend is the cost of housing.
From 2019 to 2023, rent prices jumped by 30.4%, while wages increased by only 20.2%.
These rising costs are also linked to the broader issues of homelessness and persistent inflation.
Another key factor is the heavy burden ofstudent loan debt.
The COVID-19 pandemic also played a major role in the rise of the Boomerang Generation.
On the flip side, many families find ways to make the situation work for everyone.
Adult children may help with household chores or child care, reducing the need for outside services.
Open conversations about financial goals both for parents and young adults can make these arrangements smoother.
As more young adults move back in with their parents, the financial effects are being felt across households.
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