52% of Young Adults (18-29) Live W/ Their Parents: The Highest Rate Ever Surpassing Even the Great Depression

[datznasty]

A majority of young adults in the U.S. live with their parents for the first time since the Great Depression

The share of 18- to 29-year-olds living with their parents has become a majority since U.S. coronavirus cases began spreading early this year.

www.pewresearch.org

 

[sooperhooper]

That's troubling. Stuff is just so expensive now and it seems that jobs are paying less and less

 

[datznasty]

Article is actually a year old so from earlier in the pandemic, likely easily gotten worst with the Federal unemployment boost running out, some states removing the eviction moratorium, and people seemingly not willing to go back to work for meager pay/unsafe conditions, etc. EVERYWHERE down here is hiring, Fed Ex they say is so desperate they're offering $30/hr (it's probably like 10 normally). Wal Marts and McDonaldses, even Lyft, offering massive up front bonuses and signs every place you go its crazy.

Most educated, most in debt, hardest working generation and they end up with this? Still in their childhood bedroom while frontin' for the 'Gram like they're going life big.

The system is broken

 

[Hank Scorpio]

Well, when income is disproportionate to cost of living expenses, you're going to see people living with roommates and/or their parents. Also, the cost of houses and/or rent is astronomically high.

Something's gotta give, because how do you expect people to survive out there, when you're paying people pennies to the dollar? A buddy of mine makes about $90k living in NYC, and he's telling me how tough it is to make ends meet. He doesn't live in a pricey apartment or spends his money on stupid purchases either.

Crazy how things are this disproportionate. Quality of life here in America sucks, tbh.

 

[blastercombo]

Artificially inflated prices coupled with this bum life generation will do that.

 

[blastercombo]

Well, when income is disproportion to cost of living expenses, you're going to see people living with roommates and/or their parents. Also, the cost of houses and/or rent is astronomically high.

Something's gotta give, because how do you expect people to survive out there, when you're paying people pennies on the dollar? A buddy of mine makes about $90k living in NYC, and he's telling me how tough it is to make ends meet. He doesn't live in a pricey apartment or spends his money on stupid purchases either.

Crazy how things are this disproportionate. Quality of life here in America sucks, tbh.

I disagree with the quality of life here not being good. All said and done we still have it good in comparison to the majority of the world. Americans are just programmed to want that terrible quality of life is exchange for belongings

 

[Hank Scorpio]

I disagree with the quality of life here not being good. All said and done we still have it good in comparison to the majority of the world. Americans are just programmed to want that terrible quality of life is exchange for belongings

I've lived in Hong Kong, Singapore, Switzerland, Australia, Canada (Vancouver), Belgium & Germany for some time. The USA is *** compared to the places I've mentioned.

I get what you mean though. The USA is in a much better place than MOST places in the world, for sure.

But shouldn't we compare ourselves to the other 1st world nations, if we're considering ourselves great? Compared to the other first-world countries, we're falling way behind. That's just the truth of the matter. We're almost at the bottom of the list. If there was a top 20, we'd be #20

EDIT: Did a bit of research, and I wasn't too far off with my presumptions.

 

[finessence]

Didn’t need an article to tell me that... I live in a city (Fort Lauderdale) that’s building high end condos/apartments and want like $3500+ per month....

Apartments in the HOOD of HOODS for $1500+....

1x1 apartments for $1100+.

They want first and last months rent, security deposit, want you to have a 780 credit score, and earn $7000 a month

it’s a joke. They want your monthly income to be 3 or 4x your rent.

 

[Hank Scorpio]

Didn’t need an article to tell me that... I live in a city (Fort Lauderdale) that’s building high end condos/apartments and want like $3500+ per month....

Apartments in the HOOD of HOODS for $1500+....

1x1 apartments for $1100+.

They want first and last months rent, security deposit, want you to have a 780 credit score, and earn $7000 a month

it’s a joke. They want your monthly income to be 3 or 4x your rent.

In NYC, they wouldn't rent out to you unless the income you made was at least 45x the rent. If you didn't, you need a guarantor to sign the lease with you

 

[datznasty]

People need to swallow their pride and move to cheaper parts of the country?
Roommates?
Maybe work places could provide dorms? Chesapeake here in OKC had apartments built into their campus. I don't know how it works if you get hired on if its free or more likely comes out of your check or what.

But yea wages to cost of living is ridiculous. most of the time people are very nice to me when I'm out from a service perspective, I'm a nice guy and typically i get it back. But those times you get a ****ty worker who isn't friendly, or going slow, or messes up my order, I don't even get mad. I just put myself in their shoes and like for $8 an hour, I wouldn't give many ****s too. People be wanting to have O.D customizations that add complexity to their order.

 

[blastercombo]

I've lived in Hong Kong, Singapore, Switzerland, Australia, Canada (Vancouver), Belgium & Germany for some time. The USA is *** compared to the places I've mentioned.

I get what you mean though. The USA is in a much better place than MOST places in the world, for sure.

But shouldn't we compare ourselves to the other 1st world nations, if we're considering ourselves great? Compared to the other first-world countries, we're falling way behind. That's just the truth of the matter. We're almost at the bottom of the list. If there was a top 20, we'd be #20

I get what you mean. The American philosophy of life is just broken. Buy more, spend it all, you’ll die anyway. People here love so that they can continue to live. Other countries have figured out that you live to enjoy life (generally speaking). Companies know this and capitalize on it. We’re one of the few countries that allow medical commercials to play so people can self diagnose themselves. We’re also fat as **** and spend the absolute least towards education. Again, the American system is purposefully broken. We can thank the old white generation for that. YES I’ll take that conversation that route haha

 

[danikerhino]

That's troubling. Stuff is just so expensive now and it seems that jobs are paying less and less

That's it, the living expenses/salary is unbalanced compared to the past.

 

[tr1ll]

Tbh, I feel like its the right to do. Idk why Americans think we’re supposed to move out at 18, struggle and eat ramen everyday. Meanwhile, immigrants are 2/3 families to a house stacking. Skip the dumb*** apartment stage of life, stay home, stack your bread, build your credit and go straight to buying a house.

 

[Hank Scorpio]

I get what you mean. The American philosophical of life is just broken. Buy more, spend it all, you’ll die anyway. People here love so that they can continue to live. Other countries have figured out that you live to enjoy life (generally speaking). Companies know this and capitalize on it. We’re one of the few countries that allow medical commercials to play so people can self diagnose themselves. We’re also fat as **** and spend the absolute least towards education. Again, the American system is purposefully broken. We can thank the old white generation for that. YES I’ll take that conversation that route haha

We have our priorities mixed up for sure. For a country with so many resources, we do a poor job of distributing and prioritizing the right way.

But it's not even about buying vs. saving. We have a lot of growth, but there's no proportionate growth for it's citizens. Eventually the USA will be a playground for the wealthy, which will be occupied mostly my wealthy international folks. Look at what's happening to all the major metropolis' rn. Most of all the real-estate is being bough up by wealthy businessmen as a means to shield their wealth. It's educed this insane inflationary growth.

 

[americangenius]

I've lived in Hong Kong, Singapore, Switzerland, Australia, Canada (Vancouver), Belgium & Germany for some time. The USA is *** compared to the places I've mentioned.

I get what you mean though. The USA is in a much better place than MOST places in the world, for sure.

But shouldn't we compare ourselves to the other 1st world nations, if we're considering ourselves great? Compared to the other first-world countries, we're falling way behind. That's just the truth of the matter. We're almost at the bottom of the list. If there was a top 20, we'd be #20

EDIT: Did a bit of research, and I wasn't too far off with my presumptions.

Out of all those places you've resided, which would you say had the best overall quality of life?

 

[cosmiccoffee9]

...and that's before the massive wave of evictions set to hit nationwide by the end of the year.

something's gotta give in this country.

 

[danikerhino]

Tbh, I feel like its the right to do. Idk why Americans think we’re supposed to move out at 18, struggle and eat ramen everyday. Meanwhile, immigrants are 2/3 families to a house stacking. Skip the dumb*** apartment stage of life, stay home, stack your bread, build your credit and go straight to buying a house.

I get that and agree with it, but to not have a realistic option to move out is the problem. Half of my friends moved out because of their ****ty situation. You should be able to live on your own city working any legitimate job. My grandpa used to work at Sears as a salesman and was able to afford a house and car. Now if you work at a job like that, you're ****ed.

 

[brendasdeadbaby]

Common practice in Europe and other places in the world to live with your parents till adult hood and you’re financially stable. I don’t mean to bum it out at your parents crib and pay a bill monthly while buying all the latest kicks and clothing like ninjahood. Gotta be saving up. I’ve gotten lucky on rental prices in nyc through connects I’ve made over the years but these prices are ridiculous and jobs think you could survive off $15-20 an hour. That number will only increase.

 

[smedroc]

Gonna get me a conversion van and hope doge hits $1.

 

[datznasty]

Ninja be savin' though. He bought that Jesus piece

 

[getback]

Cost of housing is wild. I expect this percentage to increase, given the unemployment assistance expiring, rent moratoriums ending, businesses (especially in the service industry and retail) closing shop for good, etc. but the housing market still pretty booming. Something's gotta give but I feel like we really haven't even reached peak consequences of COVID. Buckle up.

 

[WASHED KING]

I've been back at my parents since last November when my ex and I split. I moved in with her immediately after I graduated college in 2018.

Hindsight being 20/20 I should've went back home after graduating, my credit score has never been higher, my bank account is loaded. I'm just waiting for the right house. Cold day in h**** before I throw money away on rent again. Don't care.

 

[blastercombo]

...and that's before the massive wave of evictions set to hit nationwide by the end of the year.

something's gotta give in this country.

Yes. There’s a reason they gave that the ok. Hank Scorpio i don’t think america is becoming a playground for the rich, it already is. Those people broke the system already and are making things worse with no repercussions because they can just “donate” to people in power

 

[RustyShackleford]

It is housing cost. Especially in big cities

And we have these situations because in most places it is damn near illegal to build more housing because of exclusionary zoning.

The US has a lot of bad housing policies beyond zoning too.

Add to that, incumbent homeowner see their homes as an investment so they undercut projects to build more housing. When you add racism and general nimbyism, the situation is spiraling out of control

People will come in here and try to make it a personal responsibility thing, but it really isn't. This thing is squeezing folk from three generations now. Progressively getting worse.

This situation is fixable but I am afraid it will not get fixed of how much veto power homeowners have and how many people of all different backgrounds and beliefs, kill new housing developments and think they are doing good.

This country is short million of housing units. Especially apartments, we need to get building.

 

[blastercombo]

Common practice in Europe and other places in the world to live with you’re parents till adult hood and your financially stable. I don’t mean to bum it out at your parents crib and pay a bill monthly while buying all the latest kicks and clothing like ninjahood. Gotta be saving up. I’ve gotten lucky on rental prices in nyc through connects I’ve made over the years but these prices are ridiculous and jobs think you could survive off $15-20 an hour. That number will only increase.

Don’t forget he was laying different highschool aged girls’ cell phone bills