Pricey rental markets, low housing inventory and high home costs, crushing student debt loads, and difficulty finding jobs are adding up to an unmistakable U.S. trend: kids moving back in with mom and dad after graduating from a college or university.
If you live in New Jersey, Connecticut, New York, Florida, or California, the odds of having a child living at home are especially high, according to an August 18, 2016 analysis from Stateline.
Feel better now that you know it’s not just your kid? Great. But if you’re still hoping that the situation doesn’t last forever, you might want to point junior to a couple of Nolo’s free online articles:
Oops, yes, that latter one means your son or daughter may be coming to you requesting help with the down payment or more. But you wouldn’t be alone in that, either–it’s the only way that many young people today can afford to break into the real estate market.
If providing such help is financially impossible, here’s another prospect for you to consider: Do I Need a Building Permit to Construct a Tiny House in My Backyard? It could be a way to put some space between you and your returnee!