Discussion Paper
Household Formation within the “Boomerang Generation”
Abstract: Young Americans? living arrangements have changed strikingly over the past fifteen years, with recent cohorts entering the housing market at much lower rates and lingering much longer in their parents? households. The New York Times Magazine reported this past summer on the surge in college-educated young people who ?boomerang? back to living with their parents after graduation. Joining that trend are the many other members of this cohort who have never left home, whether or not they attend college. Why might young people increasingly reside with their parents? They may be unable to find employment, they may be saving their income to pay down increasing levels of student debt, or they may be unable to afford the rent for an apartment in the face of lower income or higher housing prices.
Keywords: Household formation; youth unemployment; student loans;
JEL Classification: D1;R3;
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Bibliographic Information
Provider: Federal Reserve Bank of New York
Part of Series: Liberty Street Economics
Publication Date: 2015-02-04
Number: 20150204