Australian Social Trend Ticker

Boomerang children - when will they ever leave?
Australian Social Trend Ticker 201203

There has been an increase in the proportion of young adults living with their parents since the global financial crisis (GFC).  Amongst 18 to 24 year-olds, the proportion has increased from 50% in 2007 to 75% now.  Amongst 25 to 29 year-olds, the proportion has increased from 15% in 2007 to 42% now, most of the increase occurring in 2011.

Young adults still living with parents have been called Twixters in the US, Kippers in the UK (kids in parents pockets eroding retirement savings); parasite singles in Japan; and mammone in Europe (young people who will not give up mamma’s cooking).

There can be little doubt that concerns about the economy have encouraged some young people to move back home and save on rent payments.  But since mid-2010 people aged 18 to 29 have dramatically increased their rate of active saving.  Housing affordability has been improving since mid-2010 so young people are seizing this opportunity to save for their own home.

It won’t be long before some of these boomerangs leave home again – stimulating home sales and also sales of furniture and appliances.  More infomation. 

Charlie Nelson 
March 2012

A different social trend ticker will be published at www.foreseechange.com.au each month.  Recent trend articles have reported on rising public transport patronage, increased financial wellbeing, the shrinking core consumer, higher household saving, rising obesity rates, and peak food.   These and many other trends have been compiled into our Australian STEEP Trends report which contains detailed supporting data.

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