Could You Move Back In With Your Parents?
A record number of US young adults have had to move back in with their parents due to the hard economic times and with Britain enduring the same hardships, are we following down the same path?
US Census Bureau have released a report that shows the figure of young adults living with their parents had risen from 1.2m in 2007, to 15.8m in 2010.
This is thought to have been an effect of the economic troubles the US faced between 2007 and 2009 which saw 8.8m jobs erased leaving the figure of unemployment over 8 per cent since 2009.
Laryssa Mykyta, an analyst in the Census Bureau's Poverty Statistics Branch, told the Guardian, “Although reasons for household sharing are not discernible from the survey, our analysis suggests that adults and families coped with challenging economic circumstances over the course of the recession by joining households or combining households with other individuals or families.”
The report showed that 30.1 per cent of Americans over the age of 18 lived in a shared household in 2010, whether it be with family member or unrelated roommates.
It also discovered that shared households increased 11.4 per cent to 22m from to 2007 to 2010. Shared households accounted for 17 per cent of all US households in 2007, but this rose to 18.7 per cent by 2010.
With Britain being considered in a double dip recession, tuition fee’s rising up to £9,000 a year and unemployment being sky high, it appears that the young adults of Britain will be following suit!
Cara Mason
tagged in Parents