Adult children living at home for longer
New research from leading author and social researcher, Bernard Salt, reveals that 16% of adult children aged 25 – 29 are continuing to live in the family home.
KIPPERS (Kids In Parents Pockets Eroding Retirement Savings) has increased by 30% over the past 20 years to 200,000.
The fast-rising KIPPER tribe is aged 25 and over, and are quite separate to late teenagers and early 20 somethings, who remain in the family home for financial reasons while studying.
Many attribute the rise of the KIPPER syndrome to the issue of housing affordability. Others suggest that it is because today’s graduates must repay HECS debts before beginning to save for a deposit for a house.
“But despite the fact that many baby boomer parents complain about their kids remaining in the family home, they actually love it,” according to Bernard Salt
“I suspect that some baby boomer parents indulge their adult children to the point of making them dependent, as a way retaining control over the lives of others.
“There’s also the view that by supporting adult children, parents are setting up an emotional debt that they think will be repaid much later in life,” said Mr Salt.
