“Hold that wedding!” or “No kiddo yet!” say the young adults hard hit by the economic times. According to a recent Pew Study, 10 percent of 18-34 year olds have moved back in with Mom and Dad. An additional 12 percent have acquired a roommate. So, it comes as little surprise when the study uncovers that 15 percent of adults under the age of 35 have postponed wedding plans and an additional 14 percent have delayed having a baby.
The boomerang trend (i.e., adult kids returning home) is likely to fade in the next couple of years, assuming the economy will improve. Yet speaking for today, it affects consumer spending on CPG products and the real estate industry. I had heard that the size of weddings had decreased over the past couple of years, but this finding suggests we might also see slight demographic shifts in the size and composition of the ‘American family.’