SPRINGFIELD, Mass. (WWLP)– It’s the American Dream to work hard, be independent from your parents, and maybe even own your home eventually. But since the recession, there has been a rising number of young adults staying home longer or returning home to live with their parents after college.
A new Pew Research study shows that nearly 57 million Americans lived in multi-generational homes in 2012; double the amount than just 20 years ago. Also in 2012, one in four young adults lived in a multi-generational home, a five percent increase over five years.
22News spoke to parents of young 20-somethings, who understood first hand the financial challenges young adults are currently facing.
“I mean I would support my child coming home anyway, I just feel like he would feel like he wasn’t supporting his dream of being able to go out and be independent,” Lisa Holland, from Springfield, said.
The Pew study found that a delay into adulthood by those between the ages of 25-34 may be another reason why there is a spike in multiple generations sharing one home, as high numbers in that age bracket are staying in school longer and marrying later in life.