A son has three close friends from high school that have returned to their hometown after college and actually bought homes in the neighborhood they grew up in. Not rural, not immigrant families. All from professional families . They all married women that were not from the hometown but from the general area. Two now have one year olds and both sets of grandparents have been very helpful with childcare. I think it can work out beautifully in many instances, and generations can provide mutual support.
My kids are not ever moving back and we will not be staying here after retirement anyway.