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More Young College Graduates Are Living At Home. Is That a Bad Thing?
The New York Times • • business
Key Points:
- A growing number of recent college graduates are moving back in with their parents, with over 25% of graduates aged 23 to 27 living at home as of last year, a rate comparable to the peak during the Covid-19 pandemic.
- This trend reflects ongoing challenges in the job market for recent graduates despite a relatively strong overall economy, with concerns that emerging technologies like artificial intelligence may further impact white-collar employment.
- Many young adults, like Tommy Balmat, find living at home beneficial for reducing expenses and easing the job search process, supported by parental encouragement and changing social norms that reduce the stigma of moving back home.
- Advances in communication technology, such as smartphones and video calls, have made maintaining close family connections easier, making the transition back to the parental home less disruptive.
- Major social disruptions, including the Great Recession and the pandemic, have normalized this living arrangement, providing fewer alternatives for young adults and shifting societal attitudes toward multigenerational living.
