Why doesn't this article have a graph showing the percentage in the past?
Nearly half of Americans age 18 to 29 are living with their parents
11–20 of 152 posts
Re: Nearly half of Americans age 18 to 29 are living with their parents
#12I'm in my mid 30s and have always had a decent job with relatively decent income, but the cost of living has always made it impossible to save enough fast enough to get a down payment on a home. Now I finally have one, but with interest rates it seems like a poor financial decision to buy a home when I can rent the same quality of home for half the price. I feel for kids starting out today, I can't see how they will…
This study was also done during 2020 which may have had some other confounding factors with it, of course I can't think of what that could be.
Part of the squeeze is that we have the largest age demographic, the boomers, in a stage of life in which they are highly unlikely to move, whilst still living in their homes. This issue will sort itself out shortly.
At the same time you had incredibly low interest rates which led to many people who already had established credit and assets the ability to borrow against it and move it to real estate in order to find a stable vehicle that would hedge against inflation.
The final, and I consider biggest, factor is the fact that the government start indirectly subsidizing housing, which means there was now a massive pool of money that could only be spent on housing available, and the economically predictable thing happened, which was the price of the thing increased substantially because now there was a large portion of money that could only be spent on that thing. As evidence of this the 3 things that seem to be increasing in cost the fastest, and that people complain about the most, Healthcare, Education & Housing are all heavily subsidized by the government.
My point being that people have short memories, this housing crises, will eventually pass given time, as long as we don't do anything stupid to make it last longer.
Re: Nearly half of Americans age 18 to 29 are living with their parents
#13I'm in my mid 30s and have always had a decent job with relatively decent income, but the cost of living has always made it impossible to save enough fast enough to get a down payment on a home. Now I finally have one, but with interest rates it seems like a poor financial decision to buy a home when I can rent the same quality of home for half the price. I feel for kids starting out today, I can't see how they will…
My prediction is N-plexes will be built, allowing homeowners to rent out portions of their property, but still give them privacy and flexibility in the future.
Re: Nearly half of Americans age 18 to 29 are living with their parents
#14Re: Nearly half of Americans age 18 to 29 are living with their parents
#15I'm in my mid 30s and have always had a decent job with relatively decent income, but the cost of living has always made it impossible to save enough fast enough to get a down payment on a home. Now I finally have one, but with interest rates it seems like a poor financial decision to buy a home when I can rent the same quality of home for half the price. I feel for kids starting out today, I can't see how they will…
You never actually own a home anyway. The property taxes rise relentlessly every year (the rent you pay the government). Then there's all the code and zoning laws to greatly restrict what you can do with it.
Re: Nearly half of Americans age 18 to 29 are living with their parents
#16Re: Nearly half of Americans age 18 to 29 are living with their parents
#17I'm in my mid 30s and have always had a decent job with relatively decent income, but the cost of living has always made it impossible to save enough fast enough to get a down payment on a home. Now I finally have one, but with interest rates it seems like a poor financial decision to buy a home when I can rent the same quality of home for half the price. I feel for kids starting out today, I can't see how they will…
This study was also done during 2020 which may have had some other confounding factors with it, of course I can't think of what that could be. Part of the squeeze is that we have the largest age demographic, the boomers, in a stage of life in which they are highly unlikely to move, whilst still living in their homes. This issue will sort itself out shortly. At the same time you had incredibly low interest rates which…
> the largest age demographic, the boomers
Millenials are a larger generation than Boomers.
Re: Nearly half of Americans age 18 to 29 are living with their parents
#18It sounds like Japan since the 90s, but without broad societal acceptance
Re: Nearly half of Americans age 18 to 29 are living with their parents
#19Re: Nearly half of Americans age 18 to 29 are living with their parents
#20I'm in my mid 30s and have always had a decent job with relatively decent income, but the cost of living has always made it impossible to save enough fast enough to get a down payment on a home. Now I finally have one, but with interest rates it seems like a poor financial decision to buy a home when I can rent the same quality of home for half the price. I feel for kids starting out today, I can't see how they will…
This study was also done during 2020 which may have had some other confounding factors with it, of course I can't think of what that could be. Part of the squeeze is that we have the largest age demographic, the boomers, in a stage of life in which they are highly unlikely to move, whilst still living in their homes. This issue will sort itself out shortly. At the same time you had incredibly low interest rates which…
> Part of the squeeze is that we have the largest age demographic, the boomers, in a stage of life in which they are highly unlikely to move, whilst still living in their homes.
These days we have the millions of people crossing the border into the US. They'll all want houses, too.