Wondering what you’ll do when your kids get older, move out and leave you with an empty nest?
Fear not … depending on where you live, they may end up living with you longer than you expect.
A new study released this week found that three out of every ten New Yorkers between 25 and 30 were living with their parents. That was the fifth-highest rate in the nation.
Other cities where the most kids lived at home with their parents were the following, in descending order: Bridgeport, Connecticut; Honolulu, Hawaii; McAllen, Texas; Miami, Florida; and New York City.
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The new trend is, not surprisingly, a direct result of the economy: The high cost of living in these places (we speak from NYC experience) is forcing young adults to forgo the independent life and move back in with their parents.
But while living at home can definitely help young adults save money, it could have an effect on their social development. Frank Farley, the former president of the American Psychological Association, warned in a recent article that by staying at home into their late 20s, young adults risk never growing up. According to Farley, “It has to do with taking responsibility with your own life. People in that age range should be ready to be independent.”
On the other hand, Zhenchao Qian, a professor of sociology at Ohio State University, said that living at home creates a stronger bond between parents and children. He also mentioned that in many communities, living at home later in life is the norm.
What do you think? Is it okay for kids to move back in with their parents?