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Alot of it has to do with crushing student loans. The Average Joe could work a menial job and still pay for basics like an apartment (shared), food, and gas. But the addition of high student loan debt loads to the mix completely rearranges the financial standing of many college grads. I feel for the parents, but I hope the lessons learned are that debt-to-income ratios are something that should be taken seriously by both students and parents alike when planning for the future. Adult children living at home with parents is not a good thing for America.
the lost boys. they never grew up and stayed forever in never never land, paying x box games with peter pan and taking cultural enrichment classes at jr college.
I'm sure it's different in the crazy-expensive parts of the country but around here (SLC UT area) see plenty of 1 bed apartments for rent for only about $500/month. Even a job at McDonalds would give you enough to afford that...
So is it really economics or do these kids just not want to work?
Maybe this is the result of "helicopter parenting"... perhaps they never established a desire to be independent in the first place?
Kids leaving their parents' houses is mostly only a U.S. phenomenon. Most kids around the world don't enjoy this lifestyle because the cost of living relative to wages is disproportionately high in most countries. The U.S. is not going to go down in flames simply because more kids are staying at home. It's all economics
Alot of it has to do with crushing student loans. The Average Joe could work a menial job and still pay for basics like an apartment (shared), food, and gas. But the addition of high student loan debt loads to the mix completely rearranges the financial standing of many college grads. I feel for the parents, but I hope the lessons learned are that debt-to-income ratios are something that should be taken seriously by both students and parents alike when planning for the future. Adult children living at home with parents is not a good thing for America.
I don't feel for the parents at all. This is what they get for telling Johnny he can get a degree in underwater basket weaving, and live the life that makes him happy, regardless of the marketability of his degree. They've never told their kids to get a job while going to school (because education is apparently a job now), asked them to pay rent, or expected any sort of responsibility of any kind out of these basement boarders.
Not every situation is like this, but most that I personally know of are.
Kids leaving their parents' houses is mostly only a U.S. phenomenon. Most kids around the world don't enjoy this lifestyle because the cost of living relative to wages is disproportionately high in most countries. The U.S. is not going to go down in flames simply because more kids are staying at home. It's all economics
I agree. There is nothing wrong with staying home and TAKING CARE of your parents after they retire and taking over their home and assets.
The 60% ages 18-24 makes sense, a lot of people like my nephew live at home but commute to school because campus housing is really expensive.
25-34, there used to be FAR less people living at home at that age around 15 years ago. What's different now is that the cost of living is much, much higher and jobs are not very plentiful in most places. I moved out on my own at 22 into a 1-bed studio apartment back in 1998. I made it on my own just fine that first year only making $10 an hour. Try and do that now, it's close to impossible.
Real estate prices are still too high for younger people to afford too. Younger people should look for deals on condos in Vegas, Phoenix, and many places in Florida. I bought my 2-bed 1.5 bath 1250 sq. ft. condo here which is nearly new construction for $59,000. That's affordable for someone making a modest wage. My condo would probably cost $250,000 or more where I used to live.
Companies there have been recruiting heavily in cities with very high unemployment, and desperate people who have not worked in more than a year are finding work there in ND.
1 in 5 men age 25-34 and fully 60% of men ages 18-24 still live with their parents. Women are only slightly behind.
It's shocking to me; I'm 33 and haven't lived at home since I was 19; I can't even comprehend living with my parents. WTF happened?
I don't think that it's right to use those who are still in college in those numbers, though.
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