How many of you know 24-34 year olds still living at home with mum and dad? What do you think of that? A quarter of all 20-34 year-olds in the UK still live with their parents, a number that has risen since 1996 by 25% to 3.3 million. Expanding our view to more of Europe, females in Italy, Greece, Slovakia and Slovenia leave by their late 20s while males leave when they are over thirty. What I personally found shocking was men in Bulgaria still living at home at 35! Imagine!
What does this come down to? Well, quite simply, housing (a nice house perhaps with a garden or pool) is free at your parents while the alternative is a small flat in a worse location with a monthly bill for money that you may not have. Following the Great Recession, people’s mindset about spending what they don’t have on housing changed; it’s viewed as irresponsible and reckless. ‘Kids’ staying at home into their late 20s today seems less of a “loser” situation, and more as an acceptable and expected circumstance.
Are ‘kids’ depressed because of this? According to a survey that compares young adults living with their parents and young adults living on their own, 68% of those living with their parents and 73% of those living on their own said they are satisfied with their family lives. The difference is really quite small! 49% of those on their own and 44% of those living with parents declared themselves satisfied with their present housing situation. Lastly, 83% of those with parents and 84% of those on their own believed they will have enough money down the line to live the kind of life they want.
Whereas years ago living with your parents may have caused you stress from social pressures, today that stress is gone. The stigma attached has been removed and young adults have wised up. Who doesn’t want home cooked meals, clean clothes, and no monthly rent bills? When I lived with my parents, the end of the month meant nothing for me. Today, the end of the month is a stressful ordeal and a race to pay the bills. Maybe I’ll move back in… Share this post with your friends and let us know when and why you moved out of your parent's nest!