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Economic slump forcing many grown children to move back in with parents

09:59 AM CDT on Wednesday, October 15, 2008

By Kevin Peters / 11 News

HOUSTON—The money crunch is affecting all of us in one way or another. It’s even creating some interesting living arrangements.

Video
Kevin Peters' 11 News report.
October 15, 2008

Many adult children are moving back in with mom and dad. It’s still unclear just how many are moving back in, but experts say those numbers are going up.

“We do save a lot of money.  The only expense is basically gas.  Food is always at home and it’s just better being at home because your family is there,” University of Houston student Anthony Vo said.

Experts say the high price of housing and the current economic crisis are to blame.

But it’s not just children moving back in with parents, it's also parents who are moving back in with their grown kids.

Since 2000, the U.S. Census Bureau says the number of parents living with their adult children has grown 67 percent.

The numbers for brothers, sisters and other relatives have also gone up.