The New York Times’ Economix blog reported Monday, despite speeches about an "improving" economy, “the bundled-household phenomenon remains large.” That is, a large number of adult children have moved back into their parents’ house, unable to support independent households. The Times revealed new data from Moody’s Analytics:
There are about 17.2 million adult children living in their parents’ homes this year, compared with around 15.3 million in 2007, the year the recession began … And the numbers show that the greatest increases are accounted for by unemployed adult children who have moved in with parents. In 2007, 1.3 million unemployed adult children were living in their parents’ homes. This year, the total is about 2.5 million.
