Home, Cheap Home
Looking to hit young adult consumers where they live? Try their parents' houses.
Opinions expressed by Entrepreneur contributors are their own.
En route to the driveway, where their little graduate student isproudly unveiling his brand-new Passat, Mom grumbles to Dad thatBilly isn't socking away enough for retirement. But Billyenvisions a rosy financial future, so long as he saves by livingunder his parents' roof. Some 18 million 20- to 34-year-oldscurrently dub their parents roommates, according to AmericanDemographics. While such living arrangements were considered a signof serious slackerdom 10 years ago, today's twentysomethingssee living at home not as a sign of failure, but as a financiallyrational decision.
"The stigma [of living at home] is gone for the mostpart," says David Morrison, president of Twentysomething Inc.,a strategic planning and marketing research firm in Radnor,Pennsylvania. "Parents still feel it, but graduates donot."
Continue reading this article — and all of our other premium content with Entrepreneur+
For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:
- Digestible insight on how to be a better entrepreneur and leader
- Lessons for starting and growing a business from our expert network of CEOs and founders
- Meaningful content to help you make sharper decisions
- Business and life hacks to help you stay ahead of the curve