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Old 01-13-2017, 12:35 AM   #1
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Millennials moving back in with parents in Near-record Numbers...

Adult Children Returning to Family Homes in Near-record Numbers
January 12, 2017 - "My dad was like, 'You should stay home until you get married,'" said Hannah Raines, 21, of Knoxville, Tennessee.
Raines emphasizes that her father was joking, but she says she is moving back in with her parents after she graduates from the University of Tennessee at Knoxville in May. She plans to work and save money for graduate school. She is not alone in her decision to become a “boomerang” kid. The Pew Research Center found that 32 percent of 18-to-34-year-olds lived at their parents' homes in 2014, the highest percentage to do so since 1940. Thirty-one percent were living with a significant other in their own household. Twenty-two percent were living in dormitories, group homes or with non-parent family members; and 14 percent lived alone or as single parents.

Millennials, young adults between the ages of 18 and 34 increasingly live with their parents.

Experts say this generation of young adults is entering a different economic world from their predecessors. Starting salaries have not kept up with housing costs, much less with growing amounts of student debt. Pavel Marceux, a households specialist at market research firm Euromonitor International, says moving home can be a sound economic decision. Young adults living at home with little or no rent are freer to save money or pay down loans. In addition, the living arrangement can help aging parents keep abreast of changing technology, such as cellphones and "smart" appliances.

Dakota Raines and his twin sister, Hannah, are among the growing number of “boomerang” kids. Dakota has moved back in with his parents in Tennessee, and Hannah plans to do the same in May.

Raines' parents, Jim and Juli, already have some experience in this area: Hannah's twin brother, Dakota, has lived with them since last year. Juli Raines says having her college-age son back home is fine with her. "It was very natural," she said, adding that the toughest adjustments were logistical ones. Since every member of the family has a car, parking was one such issue. "You don't really think about that, having enough room for everybody to park," she said.

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