New study: Millennials choosing to stay home with mom and dad
For many young Americans, moving out and into a place of their own is not necessarily part of the plan anymore. According to the Pew Research Center, more people ages 18 to 34 are living at home with their parents rather than with a spouse or on their own.
Posted — UpdatedIan O' Gorman of Wake County is one of the many millennials who has decided to stay at home with mom and dad.
"Well, I think a lot of it has to do with the way our culture has changed," O' Gorman said.
O' Gorman, 24, works for a local engineering firm and has chosen to return home to be able to work on his passion.
"I'm currently pursuing a part-time to full-time career in dance that involves a lot of travel and extra time on the weekends, and when you have a full time job, it doesn't leave a lot of wiggle room," he said.
O' Gorman said it makes the most sense to live with his parents as long as he can. According to a new report, one-third of millennials agree.
"I believe it is a little more acceptable for those early in adolescence to later adolescence to still be living at home, and I think that the age of adolescence has extended to the mid- to late- 20s in American," he said.
Economists say the trend can place an unplanned financial burden on parents. But O' Gorman says that many of his friends chose the lifestyle because it makes the most financial sense for them.
"Maybe they made things a little easy for us, but I think they did a lot of the hard work and maybe we are reaping some of the benefits of it now," he said.
According to O' Gorman, he does intend to move out of his parent's house in the next year or two, but does not plan to move far.
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