The Complete Package

 

Home

Online Filing FAQs

Tax Tips

Tax Tip 2012

2011 Tax Deadlines

Do I need an Extension?

IRA Deductions

Revised Making Work Pay

Amending filed Returns

5 Popular Breaks Expire

Forgiven Debt Such as...

Save with Tax Deductions

Dude, Where's My Refund?

Sandwich Generation

Education Benefits Extend

Energy Credit Reduced

Earned Income Credit EITC

Overlooked Deductions

Making Work Pay Credit

American Opportunity Cred

9 Common Errors

1st Time Home Buying

Reat Estate Tax Deduction

Mortgage Debt Forgiven

Supported Federal Forms

Supported State Returns

Federal Tax Forms

State Websites

Where's My Refund?

Security and Privacy

About Our Company

Contact Us

WHEN 20-S0METHINGS MOVE BACK HOME, IT IS NOT ALL BAD

In a new twist in U.S. family life, the open nest is replacing the empty nest.

More young adults are returning home to live with their parents in their 20s, and a surprising number of parents are content about it. Based on a new collection of studies, the deepest look so far at the failure-to-launch trend, the pattern is likely to persist. And as it becomes more wide-spread, researchers say, the stigma traditionally linked to young adults' living at home will fade.

More upper-and-middle-income parents, including many who felt pressed for time when their children were growing up, are not ready to be "finished with them" by their 20s, says Katherine Newman, a Princeton University Sociology professor and one of the project's 20 researchers. Also, as more students attend college at older ages, parents are coming to regard the 20s as a time of self-discovery.

The proportion of 18 to 34-year olds living with their parents has risen by an estimated five percentage points since 1980, to roughly 34%, says Aaron Yelowitz, an associate professor of economics at the University of Kentucky and a contributor to the collection of studies "The Price of Independence;“' published by the Russell Sage Foundation.

To be sure, living together still causes tension for parents and kids alike. Living with parents reduces young adults' life satisfaction, Dr. Newman found. But the more widespread the practice, the less psychological toll it takes, she says. In southern Europe, where as many as 60% of young adults live at home, the stigma has eased; she cites research showing more than half of European adults think living longer with one's parents is a good thing.

Researchers on the project set out to document economic factors driving the trend, but found it is bigger than the financial causes usually blamed for it. To be sure, rising housing and commuting costs play a role, Dr. Yelowitz found. But neither those factors nor job-market changes fully explain the 25-year-trend. The biggest increase in young adults living with parents came in the 1980s, when the labor market generally improved, he found. And rising real housing costs explain only about 15% of the drop in independent living among young adults, which started years before the sharpest run-up in housing.

More enduring cultural and social changes are at work, including a growing "child-centeredness" among families, Dr. Newman says. Many parents enjoy having adult kids around as long as they pursue "a future they can endorse:'


Home | Online Filing FAQs |  Tax Tips | Supported Federal Forms
Supported State Returns | Federal Tax Forms | State Websites About Our Company | Contact Us | Affiliate Program Site Map | Resources | Link to Us
Copyright © 2006 1040return.com - All rights reserved.