Moving in With Your Parents to Grow Up

Paying off student loans more quickly is another
reason for moving home (USA Today)

Given escalating rents and costs of home ownership, this headline makes sense:

Millennials are buying more homes - after moving back in with their parents [bold added]

In July 2020, Pew Research reported that 52% of young adults were living at home with their parents, a jump from the 46% reported in January earlier that year. It was the first time that census data recorded more adults ages 18-29 living with their parents instead of with roommates, partners or on their own, the study said.

...the path back to childhood homes has allowed many Millennials to gain better financial footing. A 2020 study by Bank of America found that Millennials were saving more than ever before — 73% of respondents said they were able to add to their savings during the pandemic, up 10% from two years ago. Nearly 40% said that they were able to boost their credit score, and 27% said they were able to reduce their spending during the pandemic.

Unless they are born wealthy, people eventually have to make tradeoffs to achieve their long-term goals. They have to swallow their pride, move back in with their parents if necessary, not go out with their friends every weekend, and not buy the latest clothes or cars.

Owning a home is more than a pathway to wealth; it also shows the ability to defer gratification. In other words it's a sign of adulthood.