The trend of adults moving back into their parents' homes continues to grow.
According to one expert, moving in with mom and dad might be the smartest financial move a young adult can make even if that person has a good job and a good education
"It just doesn't make sense to go off and get an apartment on your own," Dr. Michelle Moore, the chief of psychology at the LSU Health New Orleans School of Medicine, said.
Dr. Moore told WWL's Dave Cohen that younger adults are staying home longer or moving back to the parents' homes because the cost of living is too high.
"They're trying to make financially smart decisions and determine how can I actually have some reserves in my account so I can possibly go out and get my own place at some point," Dr. Moore said. "With how much it costs to go and rent an apartment and live that adult dream where you finally are out on your own, it's really not as attainable now for a lot of these young adults as it used to be."
However, Dr. Moore says parents shouldn't let their adult children live off of them scot-free.
"Coming back home doesn't mean that everything is paid for, food is paid for, and you get to spend your money on anything you like," Dr. Moore said, adding that parents need to have hard conversations about responsibilities inside the home with any adult children who move in with them. "Is the expectation that your adult child pays some amount of rent to cover bills and cover cost of living?"
WWL Home Improvement Shoe host Paul Lagrange says he's seeing more people adding on to their homes to accommodate their children or other relatives who need to live with them. According to Lagrange, he's seen an increase in homeowners who are building tiny homes and other accessory living quarters to house their loved ones.
"And municipalities--the planning and zoning departments--are allowing for this knowing that there is a great need for what you described for taking care of family," Lagrange told Cohen. "I think the New Orleans market and the culture is huge when it comes to that because it's engrained in who we are and what we do."
Dr. Moore says families shouldn't frown upon adults who do move in with their parents or adults who allow their adult children to return home.
"You can't take out the financial piece of how that has really impacted things," Dr. Moore said. "I do think it's important not to shame people if they do choose to live at home because it is the most financially-responsible thing to do. I think families need to be really mindful of how those conversations are happening, particularly with holidays coming up and people all getting together and maybe talking about these things.