Skip to comments.The Obama 'Recovery': Number Of Millennials Living At Home With Mom Reaches 75-Year High
Posted on 12/21/2016 12:50:29 PM PST by blam
Millennials finally get to claim a trophy for an achievement they actually earned (no participation medals here)...that's right, Millennials have officially set a 75-year record for highest percentage of young adults living at home with mom. At just under 40%, Millennials are barely shy of the all-time record of 40.9% set in 1940, after the end of the Great Depression. For once, we have every confidence that our young snowflakes will excel in crushing this longstanding record. Per the Wall Street Journal:
Almost 40% of young Americans were living with their parents, siblings or other relatives in 2015, the largest percentage since 1940, according to an analysis of census data by real estate tracker Trulia.
Despite a rebounding economy and recent job growth, the share of those between the ages of 18 and 34 doubling up with parents or other family members has been rising since 2005. Back then, before the start of the last recession, roughly one out of three were living with family.
The trend runs counter to that of previous economic cycles, when after a recession-related spike, the number of younger Americans living with relatives declined as the economy improved.
(Excerpt) Read more at zerohedge.com ...
I call discrimination.
As soon as my twenty yr old got a job outside of fly-by-night restaurant jobs she found a room-to-rent and was out. It took awhile for the real job to happen...
Obama is proud of his record on the economy. He reminds us how truly bad things would were he not at the helm, guiding and nurturing America’s economic engine.
I was normal 75 years ago for Italians and others to live 2 or even 3 generations in a huge house or next door to each other.
I think it was great.
But they were all working and helping out at home. When they got married they moved sometimes.
I’d be afraid for a 20 year old girl moving into a room to runt. Independence and dangerous are two different things.
depression / not recession
When folks come to terms with this, things will be a lot clearer.
FReepers should never refer to a recession around 2008,09.
It resulted in a depression and we’re still in a great recession.
You can’t have 45 million people out of work and act as if we merely suffered a few ripples in the economy.
Wow! And it’s not even summer.
It is not their fault and you are being mean about it on the one hand pointing out that we have been in a depression and on the other hand calling them snowflakes for living at home during a depression.
As did ours.
I wonder how many are not living at home yet are subsidized by their parents ( I know of two).
yes. Great point. Moving into Mommy or Daddy’s to continue to play Minecraft or sit all day in front of the XBOX and get stoned at 18, 19, and into the 20’s and even some 30’s. Is not even close to the beautiful family situation you described.
Yes. That too.
In fact, they never lived alone, there would always be a roommate but that was unusual.
Females lived with their fathers until they were married.
Maybe we are just returning to normal behavior and the aberration has been from 1970 to current?
The deceptive thing about this statistic is that 75 years ago most of America lived on Farms! Those kids were working in the 1940s after the war.
This is also very much a regional issue. Try renting an apartment in greater Boston where I live as a young person right out of college....it’s brutal. 3k a month in a good neighborhood is not uncommon. I expect it’s a lot easier for a young person to go out on their own in the mid-west, or some southern cities where the COLA is more reasonable.
I agree. It is not the best arrangement but it is with two of her friends. She, unfortunately, did not help around the house or pay even a symbolic rent. She was very messy. I did the best I could to be patient with her but she was a very stubborn young lady.
Dad probably got booted out of the house in the divorce years ago.
“The deceptive thing about this statistic is that 75 years ago most of America lived on Farms! Those kids were working in the 1940s after the war.”
Yup. And you can ask 1940s farm-raised (or even just rural raised) kids if their lives revolved around sitting on the couch playing with I-toys and watching bigscreen HD all day.
Well, this Dad got the house, the debt on the house, and the >18 yo kids. The house and the “kids” are still here.
The large number of millenials living with their parents is not necessarily an indication of economic malaise. More likely, it is tied to two major factors that are more accurately described as misplaced priorities or irresponsible government interventions in the economy:
1. Many millenials are dedicating a disproportionate amount of their income to payments on student loans that weren't worth the money they cost.
2. The U.S. government has gone to great lengths to over-inflate the value of real estate over the last few decades -- to the point where parents have adult children living with them who can't even afford to buy those same homes.
This is really just a fouled-up generational problem that never would have happened without a combination of idiotic government policies and poor personal financial decisions.
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