25 dic 2010

Boomerang Generation

Named for the frequency with which they choose to cohabitate with their parents after a brief period of living on their own–thus boomeranging back to their place of origin. This cohabitation can take many forms, ranging from situations that mirror the high dependency of pre-adulthood to highly independent, separate-household arrangements.

The 18th through 21st birthdays of this generation coincide with the economic downturn starting with the collapse of the
stock market bubble in 2000. This led to rising unemployment until 2004, the same time this generation was entering the workforce after high school or college graduation. Additionally, in the new economy, where globalisation-induced phenomena like outsourcing have eliminated many jobs, real wages have fallen over the last twenty years, and a college degree no longer ensures job stability, this is the only way for them to mantain a middle class lifestyle they anticipated. Additionally, with the recent economic crisis hitting much of the world, many young people were either laid off or could no longer afford to live on their own. Moving back home allows them the option of unpaid internships and additional schooling without the burden of paying rent at market rates (or paying rent at all), though experts recommend that boomerangers pay at least token rent to offset the additional costs they add to the home, and maintain their sense of self-esteem.

This can benefit parents when they reach old age. In societies where it is common for children to live with their parents into adulthood, such as Asian, and Hispanic cultures, children more frequently take care of aging parents.
On the other hand.

A lack of motivation can delay the start to a young adult's career and cause him/her to miss months or years of job earnings and experience. Those who return home from the unrestrictive nature of college dorm life may have difficulty readjusting to their parents' domestic expectations. Where living space is shared, gatherings with friends can be limited in frequency or scope. Dating is similarly constrained and can be impaired by the stigma of the young adult's perceived inability to function independently of his/her parents.

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