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Why Boomerang? Debt, Access to Credit, and Parental Co-residence among Young Adults

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Abstract

A persistent media narrative from the Great Recession is the phenomenon of "boomerang" kids, that is, the rapid increase of young adults moving back in with their baby boomer parents. From a life-cycle perspective, boomerang kids may be delaying wealth-building, and they may be a strain on parental resources. From a macroeconomic perspective, increased rates of parental co-residence have important implications for the economy at large. In this note, we describe our research examining the relationship between debt, access to affordable credit and parental co-residence decisions among young adults.

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  • Lisa J. Dettling & Joanne W. Hsu, 2015. "Why Boomerang? Debt, Access to Credit, and Parental Co-residence among Young Adults," FEDS Notes 2015-10-01-2, Board of Governors of the Federal Reserve System (U.S.).
  • Handle: RePEc:fip:fedgfn:2015-10-01-2
    DOI: 10.17016/2380-7172.1621
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    File URL: https://www.federalreserve.gov/econresdata/notes/feds-notes/2015/why-boomerang-debt-access-to-credit-and-parental-co-residence-among-young-adults-20151001.html
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    1. Pinka Chatterji & Xiangshi Liu & Baris K. Yoruk, 2017. "Health Insurance and the Boomerang Generation: Did the 2010 ACA Dependent Care Provision affect Geographic Mobility and Living Arrangements among Young Adults?," NBER Working Papers 23700, National Bureau of Economic Research, Inc.

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