20 Apr

The 'boomerang' generation still living with their parents

Soaring house prices leave millions of young adults unable to afford to move outHow do the finances work for ‘boomerang’ generation families?Would you want to move back into your parents’ home after university? How much rent, if any, should you pay? Can you survive socially into your 20s and even 30s living with your parents? Those are the dilemmas faced by millions of young adults as soaring house prices have forced millennials back into the parental home.This major change to family life has happened shockingly fast. In 1997, around 25% of under-34s were living in their parents’ home, according to the Office for National Statistics. Today the figure is 32%. For men, it’s even higher; 37% of men aged 18 to 34 lived with their parents in 2017. Continue reading…

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