Parents under financial strain propping up adult offspring

The only other animal with any empathy for a "full-nester" is that albatross in Dunedin with the giant sheep-sized chick sitting on the hillside waiting for dinner. 

A full-nester is the demographic group of parents with grown-up children (over 18) who are still living at home.  Research shows 62 per cent of full-nesters are providing financial support to their children, compared to 37 per cent of empty nesters. 

Financially they're a forgotten group.  Boomerang kids are the ones we harp on about.  They're the 18- to 34-year olds living with full-nesters.  The plight of the boomerang is well-documented.  They suffer high student debt and are right in the thick of a very real housing affordability crisis.

There is heated debate on housing supply, capital gains tax, foreign ownership and putting the heat on those with unoccupied ghost houses.  Nothing much changes and our 18- to 34-year-olds continue to suffer.  Wealthier parents buy properties for their boomerangs or front up with a deposit. 

While most full-nesters have benefited from the housing boom, it's only paper money.  Unless they own multiple properties it's simply an expensive roof over their own head.  There are no cash gains unless down-sizing is an option.

We forget the housing affordability crisis has an impact on more than one demographic group.   Boomerangs coming home are a financial handbrake on the lives of full- and empty-nesters with knock-on effects as they age. 

Research from The Centre for the Modern Family in the UK has produced some high-impact statistics.  It finds many full-nesters are worse off than empty-nesters and their own boomerangs.

Here's a summary:

Paying off debt:  A third of full-nesters (34 per cent) do not think they will ever get out of debt, compared to 17 per cent of empty-nesters and 9 per cent of boomerangs. 

Saving for the future:  30 per cent of full-nesters are contributing less to savings and 28 per cent are spending their savings.  This is having a direct impact on retirement contributions. 

Leisure spending:  Almost one in two full-nesters (47 per cent) has cut back, compared to 38 per cent of empty-nesters and 28 per cent of boomerang kids.

Cheaper supermarkets:  A third of full-nesters (35 per cent) have switched supermarkets compared to 29 per cent of empty-nesters and 16 per cent of boomerangs.

Loans, overdrafts and credit cards: 16 per cent of full-nesters have borrowed more, compared to 7 per cent of empty-nesters and 5 per cent of boomerangs.

Financial support:  11 per cent of full-nesters have asked friends or family for financial help, compared to 4 per cent of empty-nesters and 7 per cent of boomerangs.

Selling valuables:  11 per cent of full-nesters have sold valuables, compared to 6 per cent of empty-nesters and 7 per cent of boomerangs.

Skipping meals: Almost one in ten full-nesters (9 per cent) have skipped meals, compared to 5 per cent of empty nesters, but 12 percent of boomerangs report going hungry.   

Second jobs: 8 per cent of full-nesters have taken on extra hours or a second job, versus 4 per cent of empty nesters and 6 per cent of boomerangs. 

Time to wheel out a happy statistic.  Almost two-thirds of full-nesters are pleased to lend money to help their family. 

That's a nice high number, but when turned on its head, it does mean that more that one in three parents are grimacing.  Those who are not living at home and ask for money from their parents have closer to a 50/50 chance of upsetting them. 

If you're starting to feel pleased you're an empty-nester and your kids are out flatting, don't get too comfy.  A sizeable 27 per cent of renters think they'll be going to their parents for help buying a house, whereas only 16 per cent of boomerang kids anticipate doing the same.  You're not out of the woods just because they've stepped out the front door. 

One final happy-stat to cheer you up - half of boomerang kids believe they should help their parents later in life and roughly 20 per cent expect them to move in when they are older.

Janine Starks is a financial commentator with expertise in banking, personal finance and funds management. Opinions in this column represent her personal views. They are general in nature and are not a recommendation, opinion or guidance to any individuals in relation to acquiring or disposing of a financial product. Readers should not rely on these opinions and should always seek specific independent financial advice appropriate to their own individual circumstances.