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I think if you still live with your parents at 40, you are waiting for them to move out (die) at that point.
I love the sharp drop at 30 and no decrease at 31. Clearly a mindset of “Now that I’m 30 I REALLY need to move out of my parents’ basement.”
I left at 17, small city moved away to go to school, now live in big city and hope kids stay at home with us for a few years, not just for the savings but I enjoy their company. But they may want their independence which I get.
I had some friends who’s parents bought a condo for them to live in while they went to school. What seemed like a ridiculous indulgence proved to be quit savvy, the condo increased in value from $100k to $170k over the 6 years it took both kids to complete their university. They sold the condo and the profits almost paid for all their housing and tuition costs over those six years. Plus for 2 out of the 6 years they rented out one of the bedrooms.
This is for the US right? I'd be interested to see another culture where living with your parents past 18 isn't so taboo.
I moved back in with my parents at about 23 after Uni finished and I was stuggling to find a job. One of my "friends" gave me shit for it. Some people think because they can't or won't do it, it's weird when others do. My parents are awesome people and living with them as an adult was zero hassle.
I was 23 in 1980. I bought a house for $9K. Had a $79.00 a month mortgage. Drove a $300 car. Paid for most of my graduate school out of pocket. It would be almost impossible to do that today.
I'd like to see a side by side comparison of the same years, same ages..but throw in who is married and who is not.
As each year passes, it's becoming more and more popular to NOT get married young. The young, unmarried folks are probably staying at the parents pads while they save money, go to school, etc.
I would think that a much larger number of people were married by 21/22 in 1980 compared to 21/22 in 2016.
Welp! My 25-year-old ass is gonna sleep a little more soundly (alone in my queen-size bed in the upstairs room of my father's house) knowing Im not actually as alone in my struggle as the crippling depression and self-doubt make me think.
I mistakenly read the title as "young adults with living parents".
I felt the sudden urge to call my parents and tell them I love them.
Living with your parents into adulthood can work to your advantage and potentially to their advantage too. I lived at home for a few years in my 20's and worked full time, I didn't have to pay board or give them any money on the condition that I saved up to purchase a house of my own. Now I have a stable job and i'll never had to move back in with them.
I think this is probably going to be the way forward for a lot of people as it's harder now to save up for a mortgage deposit than it used to be. If I have kids I'll probably strike a similar deal with them.
Maybe it’s because the cost of living has increased astronomically but wages haven’t increased that much at all 🐸☕️
I do not know about you but 1980 distribution raises an alarm in my head: it looks too close to a perfect Poisson distribution.
TL;DR - Houses are now used as investment tools rather than places to live. Entire economies are dependent on keeping them inflated.
Presumably less 18 year olds live at home today as more people have the opportunity to move away for school? Quite a shock to see 18 year olds moving out sooner these days.
Aside from that - the results are to be entirely expected, given the difference in housing markets at each point in time.
You'd probably have assumed houses can only get cheaper in the future, utilising modern technology to provide efficient construction therefore lowering resources and manpower. Aiming to fulfill the goal of housing everybody comfortably.
However I expect the opposite to be true as long as property is seen as a monetary investment rather than a habitat.
Millenials will blame boomers and boomers will blame millenials. The reality is that there is a huge gap between the work and jobs available vs the # of skilled workers available for those jobs. Since the 80's or earlier it's been the common mantra in the US that you finish High School, go to college and then you'll get a job....almost as if employment and a decent wage was a given regardless of what you studied. Experience and skills count just as much education and unfortunatley education has gotten wildly expensive. There needs to be more apprenticeships and incentivized mentoring for skills from coding to carpentry. High school grads need to provided opportunities other than college which oftentimes only leads to substantial debt.
Sometimes it's not even a choice whether you can move out or not. The cost of housing and living around here is insane. Then again, it's hard to leave my mother alone in her 3 floor house and move in with a friend somewhere. It's way cheaper to just live together in a house we can both pay for rather than each of us paying separately to live in separate houses when neither of us have very high paying jobs to begin with.
A big part of this is the employment situation. Things were starting to get rough by the '80s, but overall in the 30 years post-WW2, getting a decent job wasn't that hard by today's standards.
Going directly into the work force without even a high school diploma was a viable option. You'd live in a shitty neighborhood, but it was an option you could get by with. With a HS diploma, life was substantially better, and you were basically set for life if you had a college degree.
Now it's just ridiculous. The employment situation is a vertical climb for most people because of insane wealth concentration creating oligopsony conditions, and rent-seeking by super-rich real estate owners has made life increasingly difficult for people who don't start their careers with wealth.
The biggest complaint of young people living on their own back in the day was that their jobs were boring and unfulfilling. First World Problems, eh?
I really wish living with your parents wasn't considered such a bad thing in the US. In some other cultures, it's very common to live with your parents until you get married.
Source: US Census Bureau via Minnesota Population Center - https://usa.ipums.org/usa/sda/ - Tools: Excel, Datawrapper
Here are my thoughts on this.
- Mortgages have increased significantly.
- Car payments have increased significantly
- The general cost of living has significantly increased
- Marriage isn't a normal thing these days, so it's typically harder to financially pay for everything by yourself, back in the day, you tied the ties at an early age, but now it's more typical in the 30's to be married.
- College has significantly increased, increasing students debts, so that's another bill you need to take care of, on top of the normal finances.
Those are my few thoughts, as I do live on my own, single, I do believe it would be easier if I would settle down with someone and share the expenses... hopefully that doesn't sound selfish, and is probably the reason I'm still single at 28. LOL
This nummer surprised me, but is it actual or registered living address? In Norway you can stay as registered as living at home while studying or being in the military, so many people don’t change their registered address before settling down.
I would love to have my children still living with me...I think that there should be zero shame in the arrangement, so long as it works for those involved.
Relevant: The Onion - Shaken Manchild Syndrome
My friend is 30. She lives with her parents because the house is basically designed in such a way where she can live independently in her own ranch style home. Granted, their house is like a mansion. Here I am at 29 and I live with my parents, only have 1 room to myself.
I'd like to see this for other countries. In Australia, the percentage of people around 19-20 living with their parents will be well above 50%, not just a bit above 50% (at least in the main cities)
It's because they're still in school to work for the jobs that don't exist, so they can earn the money to pay off their hugely inflated student load debt, and then get in debt 30 years with a mortgage, working for companies and no loyalty, ready to offshore jobs to robots; india; the Philippines to up their exec's bonus.
Could you add the average house price to the graph? Perhaps adjusted for inflation.
I think that would be an interesting comparison.
Back in the good old days, young adults would've been married, moved out, made a family, had a decent paid job enabling them to live in a decent home. Now a days it all about long career hours, poor living wages, over priced housing, wasting money on unnecessary technical goods. by which all these factors contribute to them not being able to move out.
I recently moved from a 2 bedroom apartment to a 5 bedroom house to make room for my kids/family/framily to move in as needed. My 23 year old daughter was moving in after finishing her four years in the Army and my 21 year old son is considering moving here, as well their mom and framily member or two who are considering getting out of the Midwest.
It's nice having the option to give some housing security to people that matter to me.
My uncle makes 50k a year salary and does side gigs for an extra 5-10 k with painting/art as his passion. His dad died at 62 years old, he was in his early early 20’s. My mom and aunt were living in Another city, with families. He has two majors on his degree. He never moved out. Society always looked at him funny, much like the general opinion here of “its 30 time to get my shit together”. People are so quick to point and laugh or ridicule.
But, his shit was together, he just couldnt let grandma die/be alone. As a family, we are so glad he never moved out, even if we all are living on our own. Grandma is 80 diabetic and most families would just toss her into a nursing home with other elder strangers. A large part of her mental agility and physical aptitude ( she gardens and moves furniture around the house at 80!), I attribute to him being there for her.I believe its noble what he did. He could easily move out, and find a girlfriend or wife. However, he would rather take care of g-ma.
And his entire life strangers always thought he was just some loser artist who never made it, and just lives with his mom. Once they find out he makes more than they do usually ( sometimes hitting 80k in the year ), only then does thier opinion change. Bur you know ... look at the comments here, not one person is considering other factors — its all a big joke about people not growing up.
A lesson that you should never let the opinions of society influence how you live your life or what you feel is right.
Housing prices are partly to blame. It is getting more and more costly to buy or even rent a home or even a apartment in areas where you can also find work.
I have never understood the desire to have everyone move away and separate personally if I could I would have my entire immediate family in a single compound. I currently live with my grandfather to help him out because my grandmother past away and my sister moved out and he is legally blind. He is perfectly capable of doing 99% of the things he needs solo but for that 1% its nice to have someone in house to help him. We share the benefit of him spending time with my kids, they love their grandfather (sometimes I think more than they love me) and every day when they get home the go knocking on his door to hang out with him. Good for him because it gives him kids to keep him young and good for me because it gives me 15-20 minutes to walk the dog and prep dinner. I have told my wife that if the kids don't want to move out when they get older I'm perfectly fine with that but they will be paying rent like I did after high school. Figure we can use the rent they pay so my wife and I can go spend vacation time together and the kids will get a lesson in caring for a home before being fully responsible for one.
I would really like to see this go down through childhood, with only children living with biological or adopted parents counted.
I would still live at home, at 32, if I could.
I'm not one of those people who has some innate sense of pride based on "my own place" and such. I really just prefer saving the $1600 a month to use on things that actually matter to me, as opposed to a box. Living in the bay area now, rent goes beyond ridiculous and into the "infuriating" territory.
On MLK Day, ICE deports Jorge Garcia, a married father of 2 kids in metro Detroit who has lived in the U.S. for 30 years. He was brought to the U.S. when he was 10 years-old by undocumented family members, making him too old to qualify for DACA
NBC's Opening Ceremony Broadcast Edited Out 23 Minutes Of The Event. One part NBC didn’t skimp on? The introduction of the U.S. delegation, which in real life took 62 seconds but Took more than 7 minutes as network looped portions of their entrance.