Over Age 50? Broke? Time to Move in with (Seniors or Elderly) Mom and Dad!

LA Times - April 21, 2014

Interesting article in LA Times about the number of people over age 50 that are having to move back home and in with senior or elderly mom and/ or dad. Many times the move means moving back into their childhood bedroom. Some senior or elderly parents are rejecting the male spouse of daughters because they feel the man should be "supporting his family".

Where are the jobs???? When you talk to staff people in public service offices, they mention how they are seeing more people with PhDs, MBAs  and Bachelor degrees applying for public assistance programs.

Per Writer: 'Walter Hamilton" for the LA Times: ''For seven years through 2012, the number of Californians age 50 to 64 who live in their parents’ homes swelled 67.6% to about 194,000, according to the UCLA Center for Health Policy Research and the Insight Center for Community Economic Development.

"The jump is almost exclusively the result of financial hardship caused by the recession rather than for other reasons, such as the need to care for aging parents, said Steven P. Wallace, a UCLA professor of public health who crunched the data.

"Many more young adults live with their parents than those in their 50s and early 60s live with theirs. Among 18- to 29-year-olds, 1.6 million Californians have taken up residence in their childhood bedrooms, according to the data.

"Though that’s a 33% jump from 2006, the pace is half that of the 50 to 64 age group.

"The surge in middle-aged people moving in with parents reflects the grim economic reality that has taken hold in the aftermath of the Great Recession.

"Long-term unemployment is especially acute for older people. The number of Americans 55 and older who have been out of work for a year or more was 617,000 at the end of December, a fivefold jump from the end of 2007 when the recession hit, according to the Bureau of Labor Statistics.

As with Rohr, those in their 50s move in only as a last resort. Many have exhausted savings."

See: LA Times - April 21, 2014
By Walter Hamilton
"A midlife moving crisis - Rate of Californians age 50 to 64 returning home to live with their parents surges"

Tags: , , , , ,

Facebook Comments:

Leave A Reply (No comments so far)

The comments are closed.

No comments yet

Subscribe to This Blog via Email

Hi, there. Would you like to hear from us - new information as it posts? Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Our Information

Archives

Caesi Bevis, Author / Speaker Bio

Bevis Consulting

Bevis Consulting

Principal of Bevis Consulting. I am a Futurist, Research Writer, Public Speaker, Voice Over Professional, Consultant, and Expert Witness with over 20+ years background in competitive intelligence, market research, and 13+ years in legislation research and consulting in both the U.S. and Canada. My marketing expertise in recent years includes social network and Internet marketing. I am the former President of the Canadian Business Intelligence Association. My PhD coursework is in Human Behavior Leadership, with an MBA with an International Finance focus, BBA with core courses in Marketing and AA in Advertising Design.

Personal Links

View Full Profile →

s2Member®
s2Member®