Posted on 05/21/2014 7:16:41 AM PDT by george76
More and more adult Californians are living with their parents, according to a study by UCLA and the Insight Center for Community Economic Development. The study found that 2.3 million adult Californians were still residing in their parents’ homes in 2011, compared to 1.8 million adults before the recession.
...
the percentage of 25- to 34-year-olds living with their parents rose to 19% in 2012, when it had been 12% from 1990 through 2005.
(Excerpt) Read more at breitbart.com ...
This is how the consumer benefits from cheap imports.
No surprise.
California leads the way in most societal trends in the US.
It’s an obvious symptom of our declining standard of living.
As Stockman’s book points out, the number of “breadwinner” jobs peaked in 1998 and continues to decline.
They came out last week to AR to look at land and home to buy to be close to their grandchildren and daughter.
Father in law told me, "I thought I would never leave CA, but it isn't the state I grew up in. I cannot retire there".
I took him to shoot some Title 2 firearms and he had a blast! Literally! He was excited that we could own them and really enjoyed visiting the gun stores.
It’s a combination of trends.
Housing is expensive, especially in most California cities, which makes it hard for young people to move out and be self supporting.
Our culture has evolved towards an extended adolescence for young people, which delays their working towards being fully independent adults.
Entry level jobs don’t pay well enough to allow these young people to want to move out on their own, when they see what type of housing and lifestyle their small paychecks will allow for.
Many young people don’t think so much about marriage and family and settling down when they are in their 20s. The idea of finding a marriage partner and settling down doesn’t appeal to them. And it doesn’t seem to be a social norm anymore.
Some over protective parents are happy to not have their adult children move out.
I may get flamed, but, think that military service could be a good choice for many people. If nothing else, it will make a man, or a woman, out of you.
I agree, in the ongoing Baraqqi Depression, military service is one of the very few viable job options for young folks.
Zillow reports that my in-laws 1,500 sq. ft house (1,482 actually) is worth $660,000.00. In 2006, their neighbors 1,800 sq ft house sold for $950k!!!!!!
Like they say, sell a farm in AR, buy a house in CA, or sell a house in CA buy a farm in AR.
Well, thankfully it sounds like they quit moving to Oregon.
Not any more. As was posted in past couple of days, the US military is accepting 20% of all applicants.
Why would anyone flame you, your post was spot on.
Young people who refuse to grow up are only hurting themselves. The 20’s can be the best time of life and to spend it living at home and playing videos games is the biggest waste.
But as you said, our society is encouraging this in many ways.
But it's not all bad. The McMansions that were built from the late 1980s and until the recession are insane. It makes much more economic sense to keep the known, and there's plenty of space to provide separated living quarters. That way, the young ones can easily move if a job comes up in another area.
If they establish their residence and keep the old folks out of a nursing home, they'll get the house as an asset. If the parents cash out and buy into a retirement community, get an annuity or get a reverse mortgage, those assets are gone. Better to stay put, pool assets and income now, and keep savings intact.
Oftentimes, good economic sense makes good sense.
good point about video games. Some of these young people get into their 20s, and they just aren’t growing up. They are still spending hours a day playing video games.
In my opinion, it’s a bad cultural shift, to have a situation in which we don’t encourage young people to settle down.
Some people grow up.. and some become “pajama boy.”
Zillow reports that my in-laws 1,500 sq. ft house (1,482 actually) is worth $660,000.00. In 2006, their neighbors 1,800 sq ft house sold for $950k!!!!!!
Like they say, sell a farm in AR, buy a house in CA, or sell a house in CA buy a farm in AR.
There is anecdotal evidence, that housing is causing many Californians to move elsewhere. And it’s based on just what you indicated. They can sell a house in California for a certain amount, and then take that money and buy something in a less expensive part of the country, and improve their standard of living in the process.
This is becoming a trend among California retirees, many of whom have seen their house values skyrocket in decades of home ownership. At one time, California attracted retirees from other parts of the country. But now, it’s a reverse trend. Retirees are moving out of California to other places, in the same manner as retirees move out of cold expensive places in the northeast, such as New York.
I don’t doubt that job losses could be causing this, but 20 years ago at my husband’s high school reunion there were several of his old friends who were driving 2+ hours each way to work and still living at home due to the high cost of living.
Well said.
Families used to live together in multi-generational set-ups before we shipped old people off to geezer ghettos.
The trend of everyone living in their own separate place hundreds of miles apart is a very recent one in human history.
Asian immigrant families know how to build wealth by pooling family resources. It’s a major reason they are so successful when other groups are not.
Families could do quit well buying groups of houses in a neighborhood and then switching around living arrangements as the marry, have kids, grow old, etc. As the working age family members make more money, they invest in in more property that is somewhat shared within the family (they pay rent to themselves). I’ve seen Asian immigrants do this quite successfully. The money stays within the family and they can buy small businesses, even small commercial properties and build up wealth that way.
In Maine we are seeing both children moving in with parents and retired parents being forced to move in with their kids.
Maine’s economy is based upon tourism and as such is in shambles. The EPA and other federal bureaucracy’s have effectively cut out all manufacturing and mining, as well as killing our fishing industry.
I live in a pretty-run down 1600 sq. ft. home in a suburb of Los Angeles. We’ve upgraded very little because I want to move and the trend around here is to raze these old homes and start from the foundation up. Our electrical wiring needs to be replaced, the plumbing, the roof, some of the dry wall but I am hesitant b/c we are getting near retirement and I’ve already told DH I do not want to retire here even though my life long home is California. I don’t want to sink more money into this home, I’d rather continue to patch it up until we can leave.
Last I checked on Zillow, our small home is worth about $600,000. It’s the land and location that are valuable, not the home.
My family moved to Ventura County in the late 60s when it was still an undiscovered paradise. We called it the “sticks,” beautiful open meadows with large oak trees, dairy farms, Jungle Land was still there, sheep grazing on the hillsides...all gone now. My family still owns the large tract of land my father bought in the mid-60s and it is VERY valuable.
I live in a pretty-run down 1600 sq. ft. home in a suburb of Los Angeles. We’ve upgraded very little because I want to move and the trend around here is to raze these old homes and start from the foundation up. Our electrical wiring needs to be replaced, the plumbing, the roof, some of the dry wall but I am hesitant b/c we are getting near retirement and I’ve already told DH I do not want to retire here even though my life long home is California. I don’t want to sink more money into this home, I’d rather continue to patch it up until we can leave.
Last I checked on Zillow, our small home is worth about $600,000. It’s the land and location that are valuable, not the home.
My family moved to Ventura County in the late 60s when it was still an undiscovered paradise. We called it the “sticks,” beautiful open meadows with large oak trees, dairy farms, Jungle Land was still there, sheep grazing on the hillsides...all gone now. My family still owns the large tract of land my father bought in the mid-60s and it is VERY valuable.
“I agree, in the ongoing Baraqqi Depression, military service is one of the very few viable job options for young folks.”
I think I’d rather starve than serve under Hussein
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