Boomerang Kids: Rising Housing Costs Force Young Adults Back Home

The rising cost of living in the UK is forcing a significant number of young adults to move back in with their parents, according to a recent survey by ITV News. The phenomenon, known as "boomerang kids," is affecting a substantial portion of the population, with nearly a quarter of parents reporting their adult children have returned home. The average age of these young adults is 26, but a significant number are older than 30. Many are using the time at home to save for a deposit on their own property, a goal made increasingly difficult by soaring house prices and rental costs. "It's much more challenging to buy a first home now than it was when we were young," said one parent interviewed for the survey. The survey also found that a significant number of parents are charging rent to their adult children, reflecting the financial realities of the situation. This trend highlights the increasing difficulty young people face in achieving financial independence and homeownership in the current economic climate.