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What I see are SOME Gen Y's who want a nice place to live, a great job, new car, plenty of time to hang with friends and drink and go out. In their 20's.
They don't understand that their parents lived in a cruddy apartment with 3 roommates they hated, worked a lousy job (maybe two), had a car that wouldn't turn right and sat at home watching re-runs on Friday nights because there wasn't any money to go to clubs. Then worked their way up the ladder from there.
Some Gen-Y's expect the good life when they're 25. Right off the bat, no dues paid. That isn't how life works.
What I see are SOME Gen Y's who want a nice place to live, a great job, new car, plenty of time to hang with friends and drink and go out. In their 20's.
They don't understand that their parents lived in a cruddy apartment with 3 roommates they hated, worked a lousy job (maybe two), had a car that wouldn't turn right and sat at home watching re-runs on Friday nights because there wasn't any money to go to clubs. Then worked their way up the ladder from there.
Some Gen-Y's expect the good life when they're 25. Right off the bat, no dues paid. That isn't how life works.
Some. I said "some".
That's because they were raised by parents who made everything easy for them and took care of everything and told them how special they are. So they think they deserve the best and when life doesn't hand it to them, they expect mom and dad to hand it to them.
I've told my kids they can live at home as long as they're in school and as soon as they're out of school, I'm moving in with them . I expect my kids to be working towards independence. If they're living at home, and paying their way here, while saving for a down payment on a house, that's great. If they're partying with friends....NOPE...they can get an apartment with those friends.
I look at SOME of my students and just shake my head. I can see them sleeping on mom's couch for the next decade or so. They think they deserve everything for little or no effort.
Seriously though, without a manufacturing base, I see us heading down the path France has with very high unemployment for young people and they'll have nowhere to do but mom's couch.
Last edited by Ivorytickler; 03-16-2012 at 05:46 PM..
I lived in NYC right out of school in 1999 and worked in book publishing (not a well paying job). I had two roommates and lived in deepest darkest Brooklyn. I didn't own a car. I managed just fine, ate a lot of tuna.
I lived with two roomates in the half of an upper flat that hadn't been gutted in the fire. I don't think that was legal but the land lord didn't seem to care. On the bright side, you could see the moon on a clear night through the plastic wrap that covered the hole in the roof. I had a skylight before they were popular.
This is a map that tells how many hours per month a person on minimum wage would have to work to afford a 2 bedroom apartment at fair market value. Now I agree that a single person doesnt need a 2 bedroom apartment, but looking at those numbers in some places, like NJ where we live, even in a 2 bed with roommate, you cant afford to live with just one full time job at minimum wage
13 years ago. Was your job paying barely above minimum wage? I highly doubt this is possible today making 8.50 even in the worst neighborhoods.
It was, I remember that I received a notice that I qualified for Sec 8 housing so pretty close to minimum wage for New York. I made 20K a year and shared a railroad one bedroom apartment with two other people, we each paid $300 a month and it was in a very sketchy neighborhood which is now an ok neighborhood (near the Atlantic Center if you know Brooklyn at all). We were rent stabilized which is a bonus in NYC, although our electricity never worked correctly and no one would ever come and fix anything. I knew people who shared two bedroom apartments with 5 roommates. It is doable even today to live without Mom and Dad. It may not be comfortable but there are young people all across the country doing it.
This is a map that tells how many hours per month a person on minimum wage would have to work to afford a 2 bedroom apartment at fair market value. Now I agree that a single person doesnt need a 2 bedroom apartment, but looking at those numbers in some places, like NJ where we live, even in a 2 bed with roommate, you cant afford to live with just one full time job at minimum wage
So you get a roommate to fill that second bedroom. According to this map, in most states, two people working minimum wage jobs could afford that two bedroom apartment.
Minimum wage was never intended to be a livable wage. Just a fair wage for the type of work one would pay minimum wage. If you were to attempt to bring minimum wage up to the point that one could afford a 2 bedroom apartment on minimum wage, it wouldn't work. Prices would jump for goods and people working those minimum wage jobs would get laid off because employers couldn't afford them.
I moved back in with my mom after college and stayed until I got married at 27. We lived in the NYC area and rent would have cost half of my pay.
The situation benefited both of us. I gave her a set amount of money each week, which helped pay for our apartment and other expenses. Plus I helped with the cooking and cleaning. In addition, I believe she liked having me at home. She was a single mom and it kept her from being lonely.
Plus, in our case it was a cultural thing. We're Italian/Hispanic and its the norm in both cultures for children to live at home until they're married. Heck, I have cousins who lived at home until they were in their 30s, including male cousins whose moms still ironed their shirts and made them lunch every day.
Because I saved money living at home I was able to pay for my own wedding and put a downpayment on a home shortly after I was married.
I'm not sure if I would have been any more independent if I had had my own apartment, having already lived on my own for four years during college.
I don't think it's necessarily a new phenomena. I lived at home until the day I got married, and that was 30 years ago. Most of my friends did the same thing. We went to school locally, true, but many kids are doing that today to cut down on expenses.
I have no idea if our two college students will return after graduation or not. It wouldn't bother me either way though, I like them, and we have lots of room. If there was any unhappiness I imagine it would be on their part, since they are now used to living on their own.
So you get a roommate to fill that second bedroom. According to this map, in most states, two people working minimum wage jobs could afford that two bedroom apartment.
Minimum wage was never intended to be a livable wage. Just a fair wage for the type of work one would pay minimum wage. If you were to attempt to bring minimum wage up to the point that one could afford a 2 bedroom apartment on minimum wage, it wouldn't work. Prices would jump for goods and people working those minimum wage jobs would get laid off because employers couldn't afford them.
Yes as i clearly said in the post. But the states in dark blue and some in the lighter shade require more than 80 hours a week. Which if split down the middle is not even enough for 2 people each working a full time minimum wage job, so they are each working a full time job plus a part time job, plus school maybe?
It was, I remember that I received a notice that I qualified for Sec 8 housing so pretty close to minimum wage for New York. I made 20K a year and shared a railroad one bedroom apartment with two other people, we each paid $300 a month and it was in a very sketchy neighborhood which is now an ok neighborhood (near the Atlantic Center if you know Brooklyn at all). We were rent stabilized which is a bonus in NYC, although our electricity never worked correctly and no one would ever come and fix anything. I knew people who shared two bedroom apartments with 5 roommates. It is doable even today to live without Mom and Dad. It may not be comfortable but there are young people all across the country doing it.
Yeah I know people who live like this also. I also know people who've been homeless, with jobs. Just because it is doable for you doesn't mean it is for everyone.
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. I expect my kids to be working towards independence. If they're living at home, and paying their way here, while saving for a down payment on a house, that's great. If they're partying with friends....NOPE...they can get an apartment with those friends.
