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May 29, 2008

Buzzword: Boomerang Children

Buzzword What it means. Boomerang children refers to the growing number of young adults who have moved back into their parents’ home after time out of the house, say at a four-year stint at college.

Why the buzz? With the latest crop of college grads having gone through the pomp and circumstance of commencement, a new flood of able-bodied college grads has entered the workforce. Or not. With the “r word”—recession—on every economist’s lips and the U.S. unemployment rate ticking upward, job prospects are less than stellar for the class of 2008.

So rather than light out for the big city in pursuit of entry-level positions, affordable digs, and the sort of twenty-something scraping-by that previous generations accepted as a matter of course, many in the millennial generation are bringing it all back home.

Boomeranging has its supporters and its critics. The pro camp views it as a way for parents and children to forge healthy adult relationships. Those against call the trend perilous pampering that curbs motivation and paves the way for generational conflict.

Consumer Reports can’t settle the debate, but we can help keep the peace by guiding boomerang households through a few potentially key purchases, including:

Mattress
Now that the home office or exercise space you planned or even created has to be turned back into a bedroom, you might be in the market for a new mattress. The process can be perplexing, but our mattresses buying guide tells you what you need to know.

Interior Paint
That reconverted room might need a fresh coat of paint, but who knows how long this boomerang will last? Read our latest report on interior paints, which looks at the issue of one-coat coverage for finishes.

Organizers
After four years of dorm living or, worse, fraternity/sorority rules, your boomerang child may not be so handy with a hanger. So read our report on closet organizers, which includes Ratings of different systems and tips for installing them. The same report covers garage organizers, handy if you suddenly find yourself short on storage space.

Computers
A new computer will help a young B.A. get gainfully employed—or at least keep a Facebook page up to snuff. Our colleagues in the Electronics franchise recently put the latest laptops and desktops through their paces. Check out the results in their report.—Daniel DiClerico

Essential information: The Money page on ConsumerReports.org contains advice on all things financial, including paying for college and planning for retirement—without kids at home.



Comments

Definitely in the -"NEVER" - Camp !

After some 22 years - more or less - of the responsibilities that come with off-spring, none should ever be allowed to return under any circumstances, especially with their child!

There will plenty of "challenges" for which to prepare - grandparents, your own health & retirement (perhaps w/o pensions from work), unexpected early loss of your own employment... on & on.

After having been gone for that (4) years, none will ever be suitable residents! They Must adapt - wash dishes, mow lawns, panhandle, whatever, but- do not even think of pretending all can be as it was when they were 10-12 years old!

I believe that young people returning back to their parents after completing college is great.This will help them forge better relationships with their parents as well as give them an emotional support in times of need.

The Main factor here is Economic. This phenomena will give the young adult a great financial freedom. They have financial support from their parents.. so they take time to choose their career and settle in life. The other advantage here for the parents. When the parents are old, they can rest on their children. This is seen in Asian countries and specially in India.

One disadvantage of this phenomena is the delay in career progression of the child. When the child has financial backup, he might be a little bit reluctant in searching the jobs. This is cause a delay in his career progression.

am in favour of my daughter, nearly 16 years, staying home as long as she wants. Unless she is bludging off us, which she would never do.
It is more emtionally stable & financially secure, to stay home with her parents as long as neceassry.
As she will go to University & is training as a competitive swimmer, being home makes more sense, even when she is 23 years or so.

Good conversation starter.


I am in favour of my daughter, nearly 16 years, staying home as long as she wants. Unless she is bludging off us, which she would never do.
It is more emtionally stable & financially secure, to stay home with her parents as long as neceassry.
As she will go to University & is training as a competitive swimmer, being home makes more sense, even when she is 23 years or so.

Good conversation starter.


Due to the Economic crisis, children are returning home after college graduation and,although every parent agrees that having their children home is great,it will often lead to a delay on their career progression.
I personally think it can be,at the same time,good and bad for the children.In one hand,they can have financial support from their parents and be at the comfort of their home but,on the other hand,it will create a sense of being dependent on someone and make them wonder if the whole college work was worth it.

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