— "Boomerang" kids returning home? Get ready
for stress and dissatisfaction.
children moving back with their parents is so common a
phenomenon that it’s inspired Hollywood movies
(witness "Failure to Launch" with Matthew
McConaughey). Credit the financial crisis and the slow
economic recovery that has followed.
in nine parents surveyed by Fidelity and Stanford
University’s Center on Longevity said their offspring
had returned "to the nest" in the last year.
Sixty-eight percent of those parents reported they were
more stressed, and more than half said they were less
happy (53 percent), less satisfied (54 percent) and had
less leisure time (53 percent). Nor did parents report
those housemates coming cheap: Seventy-six percent of
respondents said they faced higher expenses.
impacts were significant for women, with 46 percent
reporting sleeping worse and 40 percent reporting
and the Stanford Center surveyed more than 9,000
retirement-plan participants still employed full time to
understand how major life events affected a person’s
health and wealth and overall happiness. The results
were released in May.
research reinforces that a key component of living long
and living well is about navigating life events that can
impact a person’s finances, health, career, overall
happiness and ultimately their overall well-being,
conclusions supported by the Stanford Center on
Longevity’s own Sightlines Project," said Tamara
Sims, director of the Sightlines Project.
children moving home can range in age from Generation X
to younger millennials. But the latest data show that
more 18- to 34-year-olds live with a parent than with a
spouse, according to an April report from the U.S.
report, "The Changing Economics and Demographics of
Young Adulthood: 1975–2016," found that
boomeranging adult children represented a major shift
from the 1970s, when young people were more than twice
as likely to live with spouses.
of those who live at home today, but neither work nor
study, have high school diplomas or less, and about
one-fifth have children. Half are white, and the
majority are male. About a quarter have disabilities,
the data show.
nine in 10 young people who were living in their parents’
home a year ago are still living there today, making it
the most stable living arrangement for young
adults," the report said. "In 2005, the
majority of young people lived independently in their
own household (either alone, with a spouse or an
unmarried partner), which was the predominant living
arrangement in 35 states. By 2015 — just a decade
later — only six states had a majority of young people
Willmes, a lawyer and real estate agent with Space &
Co, observed: "There’s growing pains, especially
when you have two generations of adults with their own
ways of doing things."
kids move into the parents’ house, the parents still
rule. That can be really challenging when you have
children," said Willmes, who helped a couple
relocate to the suburbs in May to live with the mother
of one of them.
prevent their adult children from moving home, some
boomers are buying them real estate outright. Brokers
and agents in the Philadelphia region say they’re
seeing parents with significant financial assets
purchasing properties — often paying cash — as an
alternative to the stock market.
Convery, of Very Real Estate in Philadelphia, recently
completed a deal in which parents bought a large house
near a college campus for their son, who is in medical
parents are able to collect rent from his roommate
friends, pay off the mortgage, and use it as a place to
have their money work for them that’s different than
the stock market," Convery said.
seeing similar transactions in a variety of
neighborhoods, she added, with the price point tending
to stay below $400,000. "But they can control the
rent, make sure their adult children are safe."
couple bought a condo for their daughter who had just
graduated — and the parents had only seen the property
online, Convery said. (They were retired and living in
Hawaii.) "We did a lot of touring on FaceTime, but
the daughter and her friend picked it. The parents flew
in for the home inspection and wrote the check."
boomer parent-buyers might move into the properties they
buy for their kids.
they’re ready," she said, "the plan is they’ll
sell their big suburban home when the adult child is
more financial stable and can buy on their own, then
move into the city and use the property as their