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

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

#471

Post by liveoneggs » Wed, Sep 16, 2020, 6:51 PM UTC

tidepod12 wrote: post #284

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…

>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…

millenial users of twitter, you mean?

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

#472

Post by kls » Wed, Sep 16, 2020, 6:52 PM UTC

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 will never understand this mentality, I mean if the child is an out and out slacker maybe I could understand, but to this day, if I fell on hard times I have a host of family members that would take us in, no questions asked. We as a family where raised that way to the extent that I could show up on a second or third generation cousins door step and they would take us in. That fairly distance relatives I can't imagine a family where the dynamic is that they will not let their direct descendant come home to catch their breath. I mean that is your legacy.

I actually had to come home when I was in my early 20's. I spent my high-school and post-secondary years pursuing culinary arts. It never dawned on me to actually get a job in a commercial kitchen until I had my culinary degree due to the fact that I worked thru school as a finish carpenter and made a pretty good wage for a 18-19 year old kid. Anyways with degree in hand, I set off for New Orleans to make a name for myself as a chef. From the moment I got into a commercial kitchen I realized I had made a big mistake, while I loved cooking, being a chef in a commercial kitchen has little to do with actual cooking. So I came home hat in hand with no direction, went back to carpentry while I regrouped, the entire time my grandfather (I was raised by my grandparents) kept saying you know you really have a knack for programming those computers. I always viewed it as a hobby but folded to his suggestions and took a job at a local shop doing custom business software. This was the dawn of the internet, so there where still small shops doing desktop software for small businesses. Anyways the rest is history but the point being, is I knew I could come home, I could not imagine not having that relief valve as a young person, especially in today's climate.

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

#473

Post by kickopotomus » Wed, Sep 16, 2020, 6:52 PM UTC

alchemism wrote: post #267

computerphage wrote: post #261

Earlier quoted context omitted.

What about other years? 1980? 1970? I would love to see this data over time. > homes today are substantially larger Is there any availability of smaller homes in actual markets? If I'm a buyer in the market do I even have the option to buy a cheap smaller home?

No, you have the option of buying a condominium apartment in most cases. Here in the Philadelphia urban real estate market —- which has no shortage of reclaimable housing —- the break-even point for builders is about triple the value of the existing homes. No current resident can afford to buy one, so single family homes get converted into tiny “luxury” condos. [Edit: there are city subsidized ‘tiny-housing’ developm…

The same thing is happening here in Austin. Developers are buying up older properties, demolishing them, and then splitting the lot into 2 or 3 sections and building smaller "modern" homes/condos.

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

#474

Post by triceratops » Wed, Sep 16, 2020, 6:53 PM UTC

rjkennedy98 wrote: post #52

wonderwonder wrote: post #11

Millennials face a very real risk of being a lost generation financially. They have endured 2 major, years long recessions, and now the Covid pandemic coupled with social isolation and massive unemployment that does not appear to have an end date in sight. Housing is more expensive for them than prior generations, wages are stagnant, school is expensive and social conflict is also currently on deck. WW2 was of course…

> Millennials face a very real risk of being a lost generation financially I think it's already a done deal. Millennials aren't as young as they seem (over 30) and as the own a minuscule percentage of US household wealth. The numbers are incredible. "Indeed, at a median age of 35, Gen Xers owned just 9% of the nation’s wealth in 2008 — less than half what boomers had at that age. And millennials will have to triple t…

Obamacare banned declining coverage for pre-existing conditions and allowed Since they don't see things getting better for them as they get older, maybe it's not so irrational to support expansion of Medicare and Social Security.

It's not as illogical or against their self-interest as you think.

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

#475

Post by lordnacho » Wed, Sep 16, 2020, 6:54 PM UTC

iso1631 wrote: post #50

collyw wrote: post #13

Earlier quoted context omitted.

I will probably be going against the grain here, but I managed to rent a flat by myself while in university years ago with a part time job in a supermarket at weekends and applying for some hardship funds and other money available at the time. Rents have risen a lot since then, but is it really impossible for someone in work to be able to afford rent? Or are they insisting on living in a fashionable part of town? (Fo…

I started as a trainee broadcast engineer in London on £17,800 a year in 2003. This left me with £1,082 a month (back then student loan payments were far higher than now). Rent for a tiny bedsit with a shared bathroom was £520 a month, 2 mile walk from work. I could live further out, but commuting costs outweighed any savings. That's the equivalent of £828 a month now. Bills were included. You can actually pick up a…

Similar story, also 2003. Think the pay was £24K, but I had to be in for work quite early in the morning so that limited the location. Rent was £800 a month for new building, but in a not-so-nice neighborhood. It was a 1BR, the sort of size that's big for a student but small for anyone else. Had its own kitchen and bathroom.

Moved in with a friend after that, saved about £100 a month, but also in a nicer part of town.

Have to say the budget felt stretched at £24K, luckily that went up a lot pretty fast.

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

#476

Post by refurb » Wed, Sep 16, 2020, 6:54 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.

There are people who never grow up if given the opportunity to keep living with their parents. My cousin is one of them.

Get a job? Why? Go to school? Why? Things are fine. I have someone to cook my meals and a warm bed to sleep in.

My uncle ended up booting my cousin out of the house. It was the best thing that happened to him. He matured significantly, went back to school, has a great job. He even admits it himself that he was in a rut that would have never ended had he been able to keep living at home. Living at home sheltered him from the real world.

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

#477

Post by thinkharderdev » Wed, Sep 16, 2020, 6:54 PM UTC

jbay808 wrote: post #467

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…

> The demand for ultra-expensive housing in places like the Bay Area is driven by the huge earning potential of the high-skilled labor market. Maybe the Bay area, but that's (sadly) not the case in places like Vancouver and Victoria. Sky high property prices, but no corresponding earning potential.

I've never quite been able to figure out what happened in Vancouver. It's a great city with a tech scene but salaries there seem very low (by American tech worker standards). Who is actually buying all these multi-million dollar bungalow? None of the senior-level engineers I've worked with from the area would ever be able to even sniff being able to afford that.

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

#478

Post by 6510 » Wed, Sep 16, 2020, 6:55 PM UTC

ruste wrote: post #440

wpurvis wrote: post #120

Earlier quoted context omitted.

This is something that really depends on where you live more than anything. I will say there is no state currently where you can afford an apartment by yourself making minimum wage.

I've seen this claim and associated study pop up a couple of times. The study is done year on year and it's been amusing watching the increasingly long lengths they go to to hide the fact that their comparing _average_ rent for a _two bedroom_ apartment to the _minimum_ wage. Anecdotally, this is simply not true. I lived in a fairly nice area next to my university for the better part of the past five years at well be…

2 rooms is luxury now?

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

#479

Post by gruez » Wed, Sep 16, 2020, 6:55 PM UTC

Valgrim wrote: post #459

Tarsul wrote: post #428

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-…

Question: How many americans have reached 18 since february? Census says 4,021,726 americans were born in 2002, so 7 months since february: (7/12*4,021,726=2,346,006) + immigration... I'm not so sure this is how we should read those numbers. It could also mean that the majority of young people reaching 18 chose to stay with their parents a bit longer because of the pandemic.

> Question: How many americans have reached 18 since february?

Isn't that mostly canceled out by all the americans reaching 30?

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

#480

Post by irrational » Wed, Sep 16, 2020, 6:56 PM UTC

My 21 and 23 year old daughters have moved back in with us. They stay up until the wee hours of the morning watching streaming media, then wake up mid afternoon to get on social media, eat dinner with us and then repeat. I can't wait till they leave. At least when they are living on their own I don't have to know about their bad habits.