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

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

#421

Post by another-dave »

lotsofpulp wrote: post #336
Philip-J-Fry wrote: post #254

Earlier quoted context omitted.

I'm confused. We both have pensions.

In the UK, they refer to defined contribution and defined benefit as pension. In the US, pension is short for “defined benefit” pension, which is an annuity beginning at a specified retirement age. The liability for providing that benefit does not lie with the recipient of the defined benefit, but with the employer (or government). A defined contribution pension is one where the recipient of the benefit owns and cont…

Interesting! Do they have a term for DC pensions in the US? Is that their 401k?

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

#422

Post by loblollyboy »

dcolkitt wrote: post #246

> Housing is more expensive for them than prior generations I harp on this constantly. But housing is not more expensive in the majority of American metros. Adjusted for inflation the median cost per square foot of new housing is almost exactly the same as it was in 1990. (This doesn't even take into account that mortgage rates are drastically lower since then.) We get skewed on this for two reasons. One is because h…

Uh my Zillowing suggests that you’re wrong. At least in WI - and what’s more middle American than WI. I’m talking even bumfuck, wi, where a hunting lodge with no plumbing and a woodfire oven for heating will set you back 100k. In Madison WI you are wrong nearly on an order of 10 (Comparing w 1990 prices).

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

#423

Post by rattlesnakedave »

dcolkitt wrote: post #246

> Housing is more expensive for them than prior generations I harp on this constantly. But housing is not more expensive in the majority of American metros. Adjusted for inflation the median cost per square foot of new housing is almost exactly the same as it was in 1990. (This doesn't even take into account that mortgage rates are drastically lower since then.) We get skewed on this for two reasons. One is because h…

Even houses built in the 70s and 80s where I live in central KY have “appreciated” much faster than inflation.

W/r/t your point about hedonic adjustments, I’m not sure that matters if most still can’t afford it.

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

#424

Post by racl101 »

bradlys wrote: post #231
youredoneson wrote: post #188

Earlier quoted context omitted.

So here's the thing My parents suck and I want nothing to do with them really Everything in my life is better the less I deal with them Everything

I think we’re going to have to accept we’re the uncommon ones around here. I don’t know what the stats are but I’ve got a feeling that most people on HN (particularly those in expensive cities) get along with their parents quite well. I’ve noticed in my time in SV that I’ve never really heard anyone say their parents are/were abusive. Or that they even really hated their parents. On the contrary, I hear most people l…

True. This is a very thoughtful response that gives me pause. Good parent privilege.

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

#425

Post by dang »

thisisbrians wrote: post #402

This headline is flat-out wrong (and should be changed, please, @dang). About 2.5M young adults in the US have moved in with their parents since February, 2020: https://www.pewresearch.org/fact-tank/2020/09/04/a-majority-...

Ok, we've changed the title to a different phrase from the article. Thanks!

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

#426

Post by scarmig »

pgwhalen wrote: post #347
scarmig wrote: post #283

Earlier quoted context omitted.

This is not true. Sweden experienced a spike in unemployment, despite not having a lockdown. "People are too afraid about getting sick and dying to go outside" is pretty much directly attributable to the pandemic.

> People are too afraid about getting sick and dying to go outside This is still a response to the pandemic, just a non-governmental one. I'm not saying such a response isn't justified, but it is not directly attributable to the disease.

If a hurricane came and destroyed a bunch of people's homes and businesses and people stopped working, it would be more reasonable to say that "the hurricane caused mass unemployment" than it would be to say "the hurricane didn't cause unemployment, it was just people's individual decisions to not work out of a pile of flooded rubble that's causing the unemployment."

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

#427

Post by watwut »

HorizonXP wrote: post #71
kayodelycaon wrote: post #55

A lot of my friends (and myself) have abusive parents. I seriously consider suicide to be a better option than going home.

I no longer feel like this about my parents now that I live independently and have my own child. They’re wonderful grandparents. But yeah, when I was living with them in my 20s for my Masters? I felt just like you did.

I would not let my kid in non-supervised contact with abusive relative. If they were abusive to you, they will be abusive to them.

And distance from that relative allows you to see that with more clarity as you are no longer in environment where it was normalized.

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

#428

Post by Tarsul »

I'm sorry but the title is misleading. It's not that 30M young people (18-29) are living with their parents due to Corona but more that the number has grown from 24M to 26,6M in America [!] since February. Meaning the title should rather be: "The pandemic has pushed 2,6M young Americans to move in with their parents." see the linked source from the article: https://www.pewresearch.org/fact-tank/2020/09/04/a-majority-... edit: i see the title has already been corrected, HN is great :)

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

#429

Post by loblollyboy »

Retric wrote: post #328
tidepod12 wrote: post #284

Earlier quoted context omitted.

>One is because homes today are substantially larger and have more amenities than they did in previous generations. I have noticed that most of my fellow millennials seem to have completely forgotten the concept of "starter home" and assume that as soon as you turn 25 you should be entitled to a 4 bedroom house with a pool, huge yard, wonderful neighborhood, three-car garage, etc. Among my friends that have bought ho…

Have you ever actually look for small living spaces in the US? I would be perfectly fine with a 450sf apartment in northern VA, but their almost impossible to find in desirable locations. A large reason for this is the actual cost to construct a building doesn’t increase linearly with apartment square footage. Simply having a smaller apartment doesn’t reduce the amount of space needed for hallways, elevators, or park…

>nova

>desirable location

Lol

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

#430

Post by johanvts »

tremon wrote: post #109
Cthulhu_ wrote: post #65

Earlier quoted context omitted.

We have low mortgage rates right now because the European Bank has set low interest rates for loans; consequentially, we now have very low (nearly non-existent) interest on savings, and because of 'cheap' mortgages, more people want to buy houses which drives up the price. So while mortgages have low interest, houses are expensive. To the point where you need a double income for a reasonable house. My parents started…

To the point where you need a double income for a reasonable house. Even for a double income, it's insane. In NL, the average price of a home is 315k, while the median full-time income is 36k per year (pre-tax). Even with a double income, that's 4.5 years of household income, comparable to the peak ratio in the US before the housing bubble burst in 2008.

Population density of NL is like 10x that of the US so I really would expect housing to be much more expensive in NL.
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