Polls / March 11, 2014

Should adult children who move back in with their parents pay rent?

The majority of respondents to our eZonomics online poll say adult children who move back in with their parents should pay rent.

Hello mum, I’m back
Among the many lifestyle changes amid the global financial crisis was a rise in the number of adult children who moved back in with their parents.
These grown up children are known as “boomerangers” – named after the Australian throwing device that returns to where it came from.
The arrangement can have benefits for the adult children (not least somewhere familiar to live), but also for their parents as well. A special report from Pew Research in the United States in 2012 found, for example, that 48% of boomerang children paid rent to their parents and 89% helped with household expenses. Moreover, about a quarter of boomerang children Pew surveyed thought their relationship with their parents had improved as a result of living with their parents later in life.
In Europe, our own 2012 ING International Survey on Homes and Mortgages found moving back home was more prevalent in Turkey, Romania, Italy and Spain and less so in Belgium, Austria and Germany.

Incoming from both sides?
It’s not only children who return to live in the family home, the parents of the parents behave “like a boomerang” too. This can mean there are three generations living in the one home.
Eurostat figures show three generations live in 43% of homes in Bulgaria, which also had the largest average household size.

You make me happy
Whether an adult child who moves back in with their parents pays rent will depend on individual circumstances.
However, if the stress levels rise, perhaps take a moment to remember that the economics of happiness suggests spending time with loved ones (friends and family) makes us happy. And living under one roof is an almost certain way to spend plenty of time together.

FamilyHouse buyingRecessionRecovery

eZonomics team
.(JavaScript must be enabled to view this email address)