The majority of 18- to 29-year-olds in the US are now living with their parents

Post by antisthenes » Wed, Sep 16, 2020, 1:24 PM UTC

risyachka wrote: post #36

save_ferris wrote: post #8

I moved back into my parents house after my lease expired, primarily to have regular social interaction again. > "While moving back home during the pandemic makes sense and is seen as socially acceptable or even smart, it also means you are living with people who still see you as your 18-year-old self." One of the biggest things I’ve noticed among millennials is how many parents fail to understand the emotional and m…

I really don't understand the argument of "time to grow up" if a person lived without parents fine for years. Obviously he/she had already grown up.

Post by durron » Wed, Sep 16, 2020, 1:25 PM UTC

qwerty1234599 wrote: post #116

Philip-J-Fry wrote: post #94

I'm my early 20s and in the UK. I earn more than my Dad who is in his 50s. He managed to get a house, have money left over for an expensive hobby, decent car, the odd holiday etc. I'm a 90th percentile earner. Will 95+ percentile earner in a few years time. Yet it feels like I am not as well off as I should be. I don't live in an expensive area either. Yet I need to save so much money to even have the opportunity to…

High tax rates are what causes this. You are effectively giving away half your wage to sustain a completely unknown person leeching off the government.

Post by francisofascii » Wed, Sep 16, 2020, 1:26 PM UTC

dcdevthrowaway wrote: post #44

CalRobert wrote: post #23

Those parents often shout about "greedy developers" (or, if pressed, "parking and neighbourhood character") when, heaven forfend, someone tries to build new homes near them. Treating homes an investment was one of the worst mistakes of the 20th century.

You say mistake as if it were an intentional choice that turned out to be a bad one. I don't know my history of this subject very well, did policymakers really sit down and encourage homes to be treated as investment, leading them to become less affordable? Or were homes becoming less affordable just the natural consequence of having an expanding population and fixed supply of land? I'd always sort of assumed the lat…

Post by srtjstjsj » Wed, Sep 16, 2020, 1:28 PM UTC

joncrocks wrote: post #76

smeeth wrote: post #47

Earlier quoted context omitted.

Is refinancing not a thing in Europe?

Not sure about the rest of the EU, but in the UK it's unusual to have very long-term mortgages that seems to be described here. The norm is 2->3 year variable rate (tracking an underlying rate + a %) or a 2->5 year fixed, maybe a 10 year fixed. After that they tend to 'default' to a worse rate for the remainder, but with no penalties generally for switching. Remortgaging is a normal part of life, but you can imagine…

Post by srtjstjsj » Wed, Sep 16, 2020, 1:30 PM UTC

serial_dev wrote: post #67

Aeolun wrote: post #41

Earlier quoted context omitted.

Anecdotally at least, all of my friends around my age (32) have by now managed to buy homes at very reasonable rates ( Meanwhile my parents are stuck with their much higher 10% boom years interest rate, even though the absolute amount was much lower initially. Of course this is in Europe, not the states.

Low interest rates are nice, but how many years do you need to work with an average middle class income to pay for an average flat/house? I live in Munich, and it's difficult to imagine that I can ever buy a house here, even with a relatively good salary.