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Honestly?  Yes, I can believe it.  Like the Cap'n's dad, I have seen a LOT of my high school friends, and a lot of my parent's friend's kids, move back in with their parents.  Remember, not everybody gets a marketable degree like we did.  Some of them get associates degrees from the community college.  Some of them get Whatever Studies degrees from liberal arts colleges.  Those people would have a tough time finding a job with their toilet paper degrees in a good economy, so they don't really stand a chance in this economy.  Couple that with the fact that Generation Me is just now graduating from college and feels entitled to the best job/car/house/etc. without working for it, and you have a lot of shiftless lay-abouts.