Hotel California
Middle aged people moving back home.
California is known as the Golden State, but those approaching their golden years aren’t faring so well there. A study out of UCLA reveals a staggering trend, the LA Times reports: “For seven years through 2012, the number of Californians aged 50 to 64 who live in their parents’ homes swelled 67.6% to about 194,000.” Furthermore, “The jump is almost exclusively the result of financial hardship caused by the recession rather than for other reasons.” But Barack Obama has ushered in unprecedented prosperity and California is deep blue and full of true believers, so how can this be? To paraphrase the famous Eagles song, “You can check out any time you like, but we know you’ll be back.”
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- California
- economy