'Boomerang' generation can't afford to move out - KMSP-TV

'Boomerang' generation can't afford to move out

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NEW YORK (MYFOXNY) -

More millennials are living at home not because they want to but because they have to because they don't have enough money to do otherwise.

For example, Laura Hebrick, 23, and her boyfriend took the train in to the city from Connecticut. Both cannot afford to live on their own.

They are part of what is now known as the so-called boomerang generation. A new poll shows nearly 40 percent of adults between the ages of 20 and 29 still live with their parents.

Even some 21-year-old Sacred Heart College seniors told us that they expect to move back in with mom and dad when they graduate.

Add to this dismal economic reality another poll; this one about starting a family. Gallup polled 5,000 adults across the United States about when is the perfect age for a woman to have a child. Most answered age 25.

Financial analyst Steve Forbes said that twenty-somethings still living at home need to be realistic. He advises them to get a job -- any job -- they can find. And what does he think about having kids while still living with your parents? He said the key thing is to get on your feet.

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