Now here's something you won't read every day. This piece in The Wall Street Journal from retirement expert Marc Freedman posits that the reason so many millennials live with their parents is because they want to. And their parents concur.
In the 2006 comedy “Failure to Launch,” 35-year-old Tripp enjoys all the advantages of living at home with mom and dad. Zaniness ensues when the parents – eager for independence – hire an expert to nudge Tripp out of the nest.
Fast forward and forget the Hollywood comic vehicle. The idea of millennials living at home has gone from social stigma to social trend, even approaching social expectation. In 2014, the Pew Research Center reports, 32 percent of 18-to-34-year-olds were living with a parent – more than at any time since around 1940.
The prevailing assumption is that this phenomenon is a function of economic hardship, especially since it rose to prominence at the same time as the great recession was hitting hard. And while economics, in particular a tough labor market (not to mention the free laundry and stocked refrigerator), has certainly played a part in fueling the return home, the financial explanations only capture part of the reality.