Millennials boomeranging back home at historic rate

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A new Pew Research Center survey has found that the share of young adults ages 18-31 living in their parents’ home in 2012 reached its highest level in at least four decades.

Thirty-six percent of the millennial generation were living back home in 2012, a number reflective of a “slow but steady” increase from the 32 percent measured before the Great Recession in 2007 and the 34 percent found when it officially ended in 2009. Perhaps even more foreboding: Fifty-six percent of the younger half of the demographic (ages 18 to 24) were living with their parents, compared to just 16 percent of the older half (ages 25 to 31).

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.