The number of young people moving back home is on the rise.  In “Facing a Financial Pinch, and Moving in with Mom and Dad,” the New York Times’ Sam Roberts reports on the increasing trend of young adults returning to the nest.  These members of the boomerang generation are moving back home in higher numbers, in part due to the recession.

Roberts writes:

Since 2000, more people in the 25-to-39 age group have been living in their parents’ homes. By 2008, before the full effect of the recession was being felt, their ranks had increased by double-digit percentages since the decade began: by 32 percent nationwide, and by nearly 40 percent in Manhattan.

In 1980, 11 percent of 25-to-34-year-olds were living in multi-generational households. By 2008, 20 percent were.

The article cites Social Explorer’s Andrew Beveridge on the boom in the boomerangs:

As the great recession has deepened and the job market has become tighter and tighter for young people, most especially those from minority backgrounds, more and more return or never leave the parental nest.  If such a trend continues or deepens, the economic crisis may be creating a true ‘Failure to Launch’ generation.

Click here to read the full article.