10 Misconceptions About Millennials

They're Content to Live With Mom and Dad
Although a large number of millennials live with their parents in their 20s, it's not that they all lack ambition. Many have huge student loan debts and low-paying jobs. Rekha Garton/Moment/Getty Images

It's been a joke for a while – millennials are boomerang kids who move out of their parents' homes one day or month or year, only to move back in again a little later. In 2012, 36 percent of them were living at home – the highest percentage in at least 40 years [source: Fry]. What happened to the good, old days when kids packed their bags at age 18 and never looked back? Where is the drive for independence among this generation? Why are they happy to have their aging parents continue to support them?

One of the reasons so many millennials are living at home is a positive one: More young people are going to college today than in the past, often living at home to save money. Unfortunately, many of these same young adults graduated with staggering amounts of student-loan debt, then were faced with a tight job market, courtesy of the 2008 Great Recession. This double whammy all but necessitated a move back home in many cases. Add to that a generation that is delaying marriage, and has closer ties with its parents than those of the past, and moving back home almost seems a given [sources: Weissmann, White House].