Eps 416: Still Living With Your Parents? It's Time To Pack Up And Prove
— The too lazy to register an account podcast
| Host image: | StyleGAN neural net |
|---|---|
| Content creation: | GPT-3.5, |
Host
Adrian Bailey
Podcast Content
We asked young adults who are currently living with their parents if they have moved out of their parents "home. Of the 20-24 year olds, 69.0% said they had never left home. Many 20-year-olds live with a parent, either because they are ill or because there are no job opportunities. The data show that despite better education, the younger generation earns less money than the older generation.
So it may make economic sense to live with your parents after college, or even before. My friend Kat lived with her parents for the first five years after college and the college she went to, and was already debt-free. But when the Great Recession hit, many young adults moved out of their parents "homes to find work and pay rent. Multi-generational housing has picked up speed, but it is not always easy, especially for younger people.
In 2009, about 12% of adults between the ages of 18 and 29 lived in the US with their parents as a family, and that number rose to 19% in 2010, according to Pew Institute data. In 2012, more than a third of young adults in the US lived in households with two adults per generation, according to the Pew Research Center.
Lifestyle choices, according to the annual Pew Research Center survey of young adults in the U.S. by age 18 to 29.
A multi-generational household can include boomerang children returning home from college or other forays, middle-aged children who lost their jobs during the recent recession, and seniors who can't or won't live alone. Mum may disapprove of your discipline, Dad may disrupt your ability to plan the best family meals, or Mum and Dad disagree. As far as you are concerned, everything works, so it is time to stand your ground.
When you live with your parents as a parent, the challenge is to raise the children to a new level of difficulty. The challenge for parents is to put a financial and emotional burden on living with them, but children come first. Remember, if parents have different opinions and if they are with you, you need to remember that when it matters.
Indeed, a recent PEW report shows that in 2012, a record 21.6 million millennials aged 18 to 31 lived with their parents. The tough economy means more young adults are in need, and it seems some are opening their homes instead. Living at home with your parents is not something to be ashamed of, but many young adults find that they know someone who is. Parents are more concerned about the possibility of writing a check than their children's financial well-being - so they are open to the idea of opening their home to you.
If you don't feel enough of an endangered species when you're married to a millennial, throw it in the towel to live with roommates. If you decide to rent, which some millennials do to buy their first home, the costs are high. Suppose you live in an urban center where prices are not quite as high, you can live with your parents for $1,000 a month.
If you are something like me, after graduation, you do everything in your power not to go back to your people.
The fact that so many millennials are embracing this hitherto unattractive option is not only a reflection of the unique challenges facing our generation, but also a sign of a larger problem.
Here's everything you need to know about young adults living with mom and dad and the California housing market. California is not the only state where large numbers of Californians live at home. According to the California Department of Housing and Community Development, about 3.6 million Californians live with their mothers and fathers in their 20s and early 30s. Millennial Californians are more likely to live in homes today than young Californians were a decade ago, in the midst of the Great Recession.
Since I live at home, I have struggled to feel like an adult, and I am still not sure if this is a good thing or a bad thing.
I have a full-time job in my area and have lived away from home for three years but it is easy to get away Just like me. My parents have always supported my independence, so it's easy for me to feel that I'm lagging behind because I'm young. When I see my friends, who are also 23 years old, when I see where they are in their lives and where their first home was bought, they are not close to their parents at all. It can be a bit frustrating because once I finish school I feel like I've made it to a certain point or I'm not sure if my parents will be with me.