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

'Boomerang' generation can't afford to move out

Posted: Updated:
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.

  • Your MoneyMore>>

  • Kraft recalls 96,000 pounds of Oscar Mayer wieners

    Kraft recalls 96,000 pounds of Oscar Mayer wieners

    Monday, April 21 2014 8:26 AM EDT2014-04-21 12:26:48 GMT
    Kraft Foods is recalling 96,000 pounds of its Oscar Mayer wieners because they may mistakenly contain cheese.  The U.S. Department of Agriculture's Food Safety and Inspection Service said that Kraft's "Oscar Mayer Classic Wieners" may instead contain the company's "Classic Cheese Dogs."
    Kraft Foods is recalling 96,000 pounds of its Oscar Mayer wieners because they may mistakenly contain cheese.  The U.S. Department of Agriculture's Food Safety and Inspection Service said that Kraft's "Oscar Mayer Classic Wieners" may instead contain the company's "Classic Cheese Dogs."
  • Prenuptial digital privacy clauses gain popularity

    Prenuptial digital privacy clauses gain popularity

    Monday, April 21 2014 6:08 AM EDT2014-04-21 10:08:56 GMT
    Realty TV star Kim Kardashian probably wished she did have one before she walked down the aisle with Kris Humphries. We might never have known about Tiger Woods' cheating ways if he had one. And figure skater Johnny Weir is insisting on one as part of his post-nuptial agreement. What is it? A digital privacy clause.
    Realty TV star Kim Kardashian probably wished she did have one before she walked down the aisle with Kris Humphries. We might never have known about Tiger Woods' cheating ways if he had one. And figure skater Johnny Weir is insisting on one as part of his post-nuptial agreement. What is it? A digital privacy clause.
  • Grocery-store etiquette

    Grocery-store etiquette

    Friday, April 18 2014 7:24 PM EDT2014-04-18 23:24:07 GMT
    Whether barricading shopping aisles with abandoned carts, massaging every piece of fruit in the building, or blankly staring at a shelf of items so no one else can pick one, grocery store pests can turn a quick trip to restock your fridge into a nightmare.
    Whether barricading shopping aisles with abandoned carts, massaging every piece of fruit in the building, or blankly staring at a shelf of items so no one else can pick one, grocery store pests can turn a quick trip to restock your fridge into a nightmare. In the hope of gently educating those unclear on grocery-shopping etiquette, we asked you to help us put together a list of what not to do.
Powered by WorldNow

KMSP-TV
11358 Viking Drive
Eden Prairie, MN 55344

Phone: (952) 944-9999
Fax: (952) 942-0455

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices