Working Paper
Why Boomerang? Debt, Access to Credit, and Parental Co-residence among Young Adults
Abstract: A persistent media narrative from the Great Recession is the phenomenon of "boomerang" kids, that is, the rapid increase of young adults moving back in with their baby boomer parents. From a life-cycle perspective, boomerang kids may be delaying wealth-building, and they may be a strain on parental resources. From a macroeconomic perspective, increased rates of parental co-residence have important implications for the economy at large. In this note, we describe our research examining the relationship between debt, access to affordable credit and parental co-residence decisions among young adults.
https://doi.org/10.17016/2380-7172.1621
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Bibliographic Information
Provider: Board of Governors of the Federal Reserve System (U.S.)
Part of Series: FEDS Notes
Publication Date: 2015-10-01
Number: 2015-10-01-2