ATLANTA — Zachary Miles left for California right out of college, a dream he held close to his heart since he was a teenager. However, the millennial found himself in a similar predicament to his peers — he had invested in earning a degree, but couldn’t land a job. Instead of giving up like a typical snowflake though, Miles persevered. In the fifth month, with seventy dollars to his name, he was hired at an advertising agency as a junior copywriter.
Miles started off as a man on fire, typing away at a manic pace to prove himself. He was the first to come and the last to leave. But he wasn’t given the freedom to experiment tactically or the compensation that his millennial-ass felt he earned, so he quickly burned out. By that point in time, Miles was living in a posh apartment in Marina Del Rey, California, just a stone’s throw from the beach. And yet, working by day as a copywriter and working into twilight to finish writing his first novel, Miles manic energy dissipated. Alas, the snowflake melted.
He had a decision to make. Would he stay there, working from dusk till dawn, thousands of miles away from his family? Was it still worth it spending all his hard-earned money just to keep up with rent? Finally, Miles relented.
The millennial decided it was time to downsize. So he called his parents and asked if he could return home. They were delighted, welcoming him back with open arms.
According to a recent study, Miles’ story is a common one. He is a number among millions of millennials downsizing and returning to live with their parents. In the past, the trend was that parents would downsize after their kids left for college, but millennials are reversing this, with parents needing to keep a spare bedroom for their millennial’s inevitable return to the nest.
“We’re delighted to have Zachary back,” his mother Eileen said. “He’s going to be the next Steve Jobs, you know.”
“Zachary just doesn’t care about a big house or having a lot of money. It’s just not something he aspires to have, so here we are,” added Miles’ father.
Millennials are well-known for having a different value system than their parents, with many being entirely devoid of interest in homeownership. However, economic concerns are equally cited as the reason for this.
What we have yet to see is how “the millennial boomerang” will affect the economy and real estate market, but more importantly, the ambitions of Generation Y. If an entire generation has a pillow to cushion their fall, will they simply become complacent? Will comfort be their downfall and silent death? Are millennials ruining everything? Only time will tell.