Over the past few years many Millennials have decided to return home to crash in their old bedrooms to help pay of their massive pile of student debt that they accumulated for a job they have yet to acquire.
A lot of this came under the assumption that the kids would move out once they secured a stable job. However, according to an article in TIME, new research from Goldman Sachs shows that although the job market is better and the economy is improving, parents still can’t get their young adult children to leave the nest.
Goldman Sachs analysts said there could be some cyclical factors. Analyses of how many Millennials live at home across 18 European countries suggests that cultural norms and expectations could play a role, too — which could be bad news for parents who want to become empty nesters.
“Cyclical upturns could turn into structural shifts if living with parents becomes more socially acceptable over time,” they said.