Recent college graduates are moving back in with their parents or other relatives in huge numbers

[NNN0LHI]

http://clarkhoward.com/liveweb/shownotes/2009/10/21/16911/

Oct 21, 2009 -- Recent college grads move back home because of job market

Recent college graduates are moving back in with their parents or other relatives in huge numbers. The San Francisco Chronicle reports that it's happening to 80 percent of graduates. Worse yet, the graduates are beating themselves up over their unlucky plight.

Yet college grads need to realize they are not to blame. There are over seven million fewer jobs today than when the recession began in 2007, according to the Labor Department. In addition, people who are older and might have retired are continuing to work because their retirement savings have declined. So you have a real double whammy.

[FarCenter]

1. So much for the housing market

[tonysam]

2. This article is no surprise

There is no end in sight to the decline in the number of jobs.

[HuckleB]

3. US to increase presence in World Barista Championship for years to come!

:(

[aint_no_life_nowhere]

4. I feel bad for young people in these times

When I graduated from the UC system in the 1970s, I had no college loan debt because school was cheap. The job situation was not that great but you could get by.

[NNN0LHI]

9. My factory used to hire 100's of part timers every summer. Mostly college students home break

They could sometimes make enough during the summer working part time(with overtime) to pay most if not all of their tuition for the following school year. Then after they graduated college they were given first preference to hire on full time if they chose to until they received a good job offer in their profession. I remember working on the line next to a guy who was going to law school. Real decent fellow too.

Don

[BirminghamExaminer]

5. You mean there are college students who leave home? n/t

[The2ndWheel]

6. Just pooling resources

[rockymountaindem]

7. Yep, that's most of my friends these days. Well, the ones that didn't get married right out of Uni.

As for me, I am attending grad school on my parents' dime, so technically I'm not living with them, but I more or less am.

[bigwillq]

8. I'm still there!

So is my sister, and many of our non-married friends have done the same.
I couldn't afford my own place without a roommate or two, and I don't want to go that route.
I work second shift, they all work first, so I barely see them from Mon-Fri unless I have a day off during the week or work an earlier shift (which I sometimes do). It's like I have my own place, but without the expenses. It works for me for now.

[JPZenger]

10. It is a smart thing to do for a year, but when its longer ....

After I was done with college, I moved back home for a year. It was a great way to save money for a downpayment on a house. However, when a young adult is forced to live at home for multiple years, that is usually not healthy.