Boomerang Kids due to Soaring Prices and Job Uncertainty: 18% of Gen Z & 19% of Gen Y Move Back Home
- A sixth of the returns are repeated.
Yo, listen up! It's no secret that the world is a tough place for the younger generation. According to a survey conducted in 2023, 18% of Gen Z (those born between 1997 and 2012) and a whopping 19% of Gen Y (born between 1981 and 1996) are moving back into their childhood bedrooms. That's almost double the rate of the Baby Boomers (born between 1946 and 1964), who saw only 12% returning home temporarily after leaving their parents' nest.
What gives? High rents and uncertain job prospects seem to be the main culprits. Leaving that cozy nest might not be as exciting when the cost of living threatens to eat up all that hard-earned cash. So, for now, the kiddos are electing to postpone their independence and nestle back in with mom and dad for a bit.
Totally get it. The cost of living is the pits, and finding a stable gig ain't always easy. In fact, Germans, on average, have moved 4.4 times, with nearly two-thirds (68%) having experienced three or more moves. Ladies, it might interest you to know that you're more likely to be on the move than the guys.
The survey, which polled about 2,000 participants aged 18 and over, offers a glimpse into the lives of the younger generation as they struggle to find their footing in an economy that can be tough to navigate. So, if you're one of the boomerang kids, don't feel too bad about it. You're in good company! But remember - independence ain't far away, and your youthful spirit will carry you through. Stay strong out there!
The old folks' house, which often serves as a refuge for the elderly, could potentially see a surge in Generation Y members moving back in later, as 19% of this generation are reported to be moving back home due to financial constraints and job uncertainty. This trend of 'boomerang kids' echoes the changes our ownparental generations faced, with an average of 68% of Germans moving multiple times in their lives. This research sheds light on the lives of Generation Y and Z, showcasing their resilience and adaptability amidst economic challenges.
