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Released: November 17, 2011
As graduates return to nest, economy feels the pain
Source: Catherine Rampell, N.Y.Times (Free Registration)
Like most of her friends, Hollis Romanelli graduated from college last May and promptly moved back in with her parents.
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As a result, she didn’t pay rent — or a broker’s fee or renters’ insurance, for that matter. She also didn’t buy a bed, desk, couch, doormat, mop or new crockery set. Nor did she pay the cable company to send a worker to set up her TV and Internet, or a handyman to hang a newly framed diploma. She didn’t even buy drinks and snacks for a housewarming party.
In other words, Ms. Romanelli, 22, saved a lot of money. But she deprived the economy of a lot of potential activity, too.
Read Full Article: As graduates return to nest, economy feels the pain
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