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A boomerang kid says moving back in with parents will help him save to buy a home

Business Insider·Alcynna Lloyd·about 1 month ago
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A study says moving back in with your parents can hurt your homebuying odds. This 24-year-old is ready to defy them. Rommel Gonzalez/Getty Images Many young adults are moving back home to save money for future homeownership. But a study found that young adults who moved back home were less likely to own a home later in life. Luke Howland, a 24-year-old who moved back in with his parents, shed some light on why he did it. Luke Howland, 24, moved back in with his parents this year. It wasn't part of the plan. At 19, while many people his age were heading to college, Howland used his savings from high school jobs to open an electric bike retail store in Flagstaff, Arizona. After selling the business last year and moving out of the retail space where he also lived, he found himself back in his childhood home . "For someone who has been on their own for so long and found success in business, I kind of acquired this ego in myself," Howland told me.…

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