Gen B FOR Boomerang

One minute read.

Apparently, one quarter of Australians in their mid-30’s still live at home.

One in six of these “kids” (if you want to call them that) has never left home; whilst one in ten has, only to return again to the family nest.

Interestingly, of the 75% of young adults who don’t live at home anymore, a quarter of them have returned home at least once.

Gen Y should really be renamed Gen B for Boomerang!

Quite a few parents – if my conversations over Christmas and New Year’s Eve are any indication – are getting sick and tired of the situation. family child children house population demographics dollhouse brick

I read recently that one in ten moves by older parents is based around leaving their young adult children behind in the family home.

It is sometimes wisecracked by boomer apartment buyers that the reason they were buying at the time was because their adult children were on a (another) overseas sabbatical and they wanted to downsize before they returned.

Once left, young men are more likely to gravitate towards each other, living in a group rental house or living alone.

Young women are more likely to live with their partner or with another family member.

Why most don’t leave home, however, has little to do with full-time study or being unemployed or even underemployed; many just like the “convenience, comfort and enjoyment” of living at home.

In short, it is easier.

From a not too distant past, I can reassure readers that the comfort level is not shared by all members of the household!

Now, baby boomer parents, is the time to act.

The first home owners boost still applies for new digs – developers are sometimes offering to match it; rents have reached a plateau and are even falling in some cases, and housing interest rates remain at record lows. 

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There might not be a better time to get your “kids” out of your home.

And Gen Y…. are you getting sick and tired of your oldies, with their yesteryear mindset and longing for the past?

Had enough hearing about Trump this, and Turnbull that?

Well, the same applies to you, too – act now!

Move out, get a serious job/s and pay for your own bills.

Do it whilst you still know everything!


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About

Michael is director of independent property advisory Matusik Property Insights. He is independent, perceptive and to the point; has helped over 550 new residential developments come to fruition and writes his insightful Matusik Missive


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