The social costs of “workforce mobility” are more often than not left out of the debates.
My hypothesis is that the economists have no friends and their families dislike them.
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I have a feeling that this story is omitting needed context - the housing crunch.
Part of the reason that people have had to flock home if they have debt from school loans is changes in dramatic rental rates. After the housing bubble burst, and all those foreclosures hit, we had a rental boom, and that drove rental prices through the roof. People with other debt just can’t afford to pay current rental rates in a lot of places (they may be able to get a room somewhere if lucky). Roommate situations are often the best bet for recent grads, but then they have to worry about people changing their marital status or finding work out of the area. Parents may provide a more stable home while the grads try to pay off some of their loans and get themselves on the right track.
I agree with @jsroberts - this isn’t a trend only affecting one generation of Americans, or even just the college grads who’re unsuccessful. We currently are still in a slow economy, and anyone trying to start a new career will have a tough go of it. Some of these people aren’t just working, they’re already working in or near the field they studied for, and that means the degree probably helped them get employment. Right now they’re making smart economic choices by not further overextending themselves just to pretend that they’re better off than they are.
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