Boomerang generation: 'I’ll be living with my in-laws for the rest of my life'

New statistics reveal that the Australian housing market is pushing one in 10 adult children to return to the family home within the past year. 

Family gathering at sofa while visiting.

New data reveals that the high housing costs in Australia have caused one in every ten grown-up kids to return to their family homes in the past year. 

Moving out on your own is a big deal. 

You get to decorate how you want, say goodbye to those fake plastic fruits on the dining table, and welcome your perfectly chosen Pinterest-style decor.

Then, along come the kids, and while the Pinterest board might have shifted and become less about fancy boucle couches and more about Bluey rugs and Paw Patrol towels, it's still your own space to enjoy. 

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Have you considered moving back home with your kids? Source: iStock

The boomerang generation

But, many families nationwide are feeling the pinch due to the current housing situation.

In a new survey from Finder, some alarming trends have emerged, showing how adult Australians are struggling with the high housing cost.

The survey has some eye-opening findings, with 10% of Australians either moving back in with their parents or having their grown-up kids return home in the last year, showing the tough challenges people are up against. 

Sydneysider Chelsee Vallenlonga moved with her husband and three-year-old son into her in-laws' house after recognising renting and saving for a deposit just didn't work for her family's budget.

With the cost of housing on a ridiculous trajectory, Chelsee told Kidspot, “I’ll be living with my in-laws for the rest of my life.”

The main reason behind this is the sky-high cost of renting, which was mentioned by nearly 30% of those who returned home.

Another 30% have come back home with the goal of saving up for a deposit on their own house, showing how tough it is for people to get into the housing market.

Olivia Shearman says, "Moving home to save money was one of the best things I did in 2023.

"The biggest win is no longer need to worry about money or count every cent. Plus, getting home from a long day of work to a home-cooked meal wins is everything!"

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How rent increases are affecting everyone

Graham Cooke, the Head of Consumer Research at Finder, emphasises the impact of rising rent prices, pointing out that renters are feeling the brunt of these increases more than homeowners. 

Many people find it challenging to handle their living expenses independently, so they end up back under their parent's roof. 

The unstable housing market and these increasing rent prices make it a tough road to financial stability for many.

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For some living with their parents is more stressful than the housing crisis. Source: iStock

Other reasons for going back home

Even with low unemployment rates, the survey shows that one in seven adults returned home because they lost their jobs, highlighting how housing challenges persist, even in a thriving job market. 

Some people return home to care for family members, showing the various difficulties people face.

Finding financial stability

For those with the option, moving back in with family is a quick way to handle debt and save money. 

But only some have this choice. There are other ways to deal with the challenging housing market for those who don't. 

This can include talking to landlords about more affordable options, looking at lower-cost neighbourhoods, or choosing to downsize to something more reasonable.

Originally published as Boomerang generation: 'I’ll be living with my in-laws for the rest of my life'