'Boomerang generation' finds young adults living back at home
Sahar Somekian is poised to graduate from the University of Maryland. Rather than start a new job and live on her own, she is instead, moving back home.
“I am not excited for it...at all,” she said.
Xyan Rose is also days away from getting his degree in biology and heading to live with his dad.
They're called the boomerang generation.
A 15-percent unemployment rate for people ages 20 to 24 is forcing a higher number than ever of college graduates to move back under mom and dad's roof.
We've seen in Census data that the share of that age group that are living in multi-generational housing increase dramatically during the recession years and it's even continued to increase during the recovery period.
A majority of the class of 2012 will move back home after graduation—that’s a near 20 percent increase from six years ago.
Sahar is nearly a straight-A student, but still can't find a job—so, she has nowhere else to go.
“As much as I love my family, it’s just not where I want to be. I want to be on my own...I want to be doing my own thing at this point,” she said.
Single parent Bettina Suber is readying her son's teenage room for his arrival this weekend. She’s disappointed her son can't find a job and is moving home.
“It's going to be an adjustment for him as far as he used to probably staying out if he want to...hanging out with some friends and for me. I'll move back into the parent mode of...is he ok...it’s 11 o'clock...12 o'clock at night,” Suber said.
High college loan debt is also forcing even those with jobs to move back in with their parents.
It's a reality the class of 2012 is trying to live with.
Unlike past generations there is no longer a stigma attached to moving back home. Many graduates plan to be there for six to 12 months, with the hope that the economy will continue to improve and they will be able to find a job and move out on their own.