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Nearly half of Americans age 18 to 29 are living with their parents

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Re: Nearly half of Americans age 18 to 29 are living with their parents

#121

Post by candiddevmike »

mmh0000 wrote: post #118
candiddevmike wrote: post #43

Earlier quoted context omitted.

Owning a house only to rent it out is part of the problem here. You're adding to the scarcity of housing while being blessed with parents who can house you.

You're blaming the symptom instead of the problem. Given the current state of affairs, OP is doing the 'most logical' thing. If he sells his rental property, someone else will pick it up and rent it out. The real problems are the rules that make it very difficult (practically impossible) to build high-density housing where it is needed and tax incentives that benefit owning multiple homes.

Being part of the problem is still being part of the problem. Agree that there needs to be a reduction of incentives, but folks could just stop taking advantage of the current system too. Logical doesn't mean right.

Re: Nearly half of Americans age 18 to 29 are living with their parents

#122

Post by OkayPhysicist »

hotpotamus wrote: post #111
ejb999 wrote: post #107

Earlier quoted context omitted.

couples with two generous 6 figures salaries are not generally the people worried about unexpected huge medical expenses - they have good jobs, and good insurance.

Tech jobs have had massive layoffs in the last few years. I've literally seen couples at the same employer laid off together. Certainly I've seen many colleagues with young children laid off and scrambling. My coworker literally told me a few weeks ago that her husband was laid off and as a result they had had to switch to our company insurance which was less generous. Tying your family's healthcare to the whims of y…

The healthcare costs issue is infuriating, because it's one that has an obvious, well-tested solution, that could be implemented tomorrow, if the gluttons in power chose to.

Re: Nearly half of Americans age 18 to 29 are living with their parents

#123

Post by diogenescynic »

philwelch wrote: post #33
diogenescynic wrote: post #4

I'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…

Is this a local or a national problem? Homes are a lot more affordable outside of the inflated West Coast metros.

I was in SF until the pandemic and now live in another area of Northern California, but it's now just as expensive as SF was when I left in 2020. The catch 22 is that remote jobs may not last forever and the trade off is the cities near jobs have high cost of living and the cities with low cost of living have no/low paying jobs. Hard to know what the right thing to do is. Do my wife and I buy a house in a lower cost of living area and hope our jobs stays remote permanently? It's really just hard to know since there's no precedent for this. And if in 5 years everyone is now back in the office either full-time or part time, doesn't that mean prices will crash in those towns that went up in the pandemic?

Re: Nearly half of Americans age 18 to 29 are living with their parents

#125

Post by quickthrowman »

downrightmike wrote: post #81
WarOnPrivacy wrote: post #65

I live with my 5 adult sons because here (rural FL) it requires 4 incomes to afford minimal, basic bills - in a debt-free household.

Seems strange for a state with no income tax, that would happen

You just end up paying more sales tax and/or property tax in states without income tax. If you don’t directly pay property tax, your landlord does, and they pass the cost onto you.

States need money to operate, and they’ll get that money through taxation.

I’d actually be curious to see a table that shows ‘tax revenue per citizen’ by state, which includes all personal (non-corporate) taxes.

Re: Nearly half of Americans age 18 to 29 are living with their parents

#126

Post by Gigachad »

standardUser wrote: post #99
downrightmike wrote: post #71

Earlier quoted context omitted.

I really hope hikikomori doesn't become normal

Based on how much I read about loneliness in America these days, and the lack of dating/sex, especially among men, it seems like extreme isolation is increasingly common in the US.

Because modern urban design and car culture keeps people isolated in their boxes.

Re: Nearly half of Americans age 18 to 29 are living with their parents

#127

Post by Gigachad »

philomath_mn wrote: post #72
blueridge wrote: post #46

I think learned helplessness is a real problem. We have friends in their late 30's and early 40's who still live with multiple roommates. They're "well educated" but can't seem to hold a job, or stay in a relationship, or pay for anything. They've got subscriptions ticking away that they didn't remember they had, and then they're shocked to learn about an overdraft fee or a big credit card bill. One of them recently…

It is unpopular to say, but I've observed the same thing many times before. Not that an attitude change would solve the world's problems, but some people have no sense of intentionality in their lives.

Same. At this point I can’t tell if massive weed consumption causes this jelly brain or if it’s the other way around.

Re: Nearly half of Americans age 18 to 29 are living with their parents

#128

Post by dharmab »

downrightmike wrote: post #88
tekla wrote: post #68

Earlier quoted context omitted.

I was not aware the premise of the comment had anything to do with out-earning parents. The responded to comment was >Some cultures expect children to take care of their parents once they hit 18. This might not be financially, but culturally driven. And the answer is, yes, you are expected to take care of parents as soon as you are able to.

That's what social security is for. And not being able to support parents is why we started social security in the first place.

The US Social Security surplus will be depleted in 2033 (https://www.ssa.gov/OACT/TRSUM/index.html), after which point Social Security will be paying back the same amount that people paid into it. People of my generation who are becoming parents now will receive few social security benefits over their lifetime.

As the program currently exists, my generation is being robbed of money that we could invest ourselves.

Re: Nearly half of Americans age 18 to 29 are living with their parents

#129

Post by mr_cyborg »

candiddevmike wrote: post #43
LASR wrote: post #27

Might be an unpopular opinion, especially in North America, but I think families living together is a great thing. I have a wife and child, and we all live with my parents in a largish 6-bedroom house. They are retired and I support them financially. While they bought this house before I entered the workforce, I now pay the mortgage on this house. A few years ago we did a total rebuild of the house, and it's now a gr…

Owning a house only to rent it out is part of the problem here. You're adding to the scarcity of housing while being blessed with parents who can house you.

They are not adding to scarcity because they are renting it out. The unit remains available on the market to house people. 1 house = 1 house.

If they were just sitting on it, that would be reducing available housing.

Re: Nearly half of Americans age 18 to 29 are living with their parents

#130

Post by toomuchtodo »

ejb999 wrote: post #105
standardUser wrote: post #87

Earlier quoted context omitted.

> Two recent studies in the United States show, that in some circumstances, families whose income has increased will have more children. There's a massive gulch between "too poor to have ubiquitous access to birth control and healthcare" and "rich enough to provide the upbringing I desire for my child". Most Americans exist in that gulch. > But something happened to the American family over the last three decades: th…

>>Give people enough resources and they'll have more kids. Not sure I buy that - I know plenty of couples, each of them with good 6 figure salaries, who have no interest in having kids, ever - if they had 7 figure salaries, I don't think it would change their mind one bit.

This should not be downvoted.

> More and more American couples are choosing not to have children or choosing to have them later in life, according to Census data. As of 2022, 43% of U.S. households were childless, a 7% increase from 2012. The idea has become so common that the term “DINK” — double income, no kids — has emerged, often in regards to marketing and sales.

https://www.marketwatch.com/guides/insurance-services/dink-s...

https://www.census.gov/data/datasets/2022/demo/cps/cps-asec-...

> And it turns out that going childfree is paying off: Couples with no children have the highest net worth out of all other types of family structures. The median net worth of a couple with no children is around $399,000 — over $100,000 more than it was in 2019, according to the Federal Reserve's Survey of Consumer Finances.

> Meanwhile, couples with children — who have the second highest net worth out of all types of family structures — have a net worth of $250,600, per the Survey of Consumer Finances.

https://www.businessinsider.com/net-worth-dink-child-free-co...

https://www.federalreserve.gov/econres/scf/dataviz/scf/chart...

> Some 44% of non-parents ages 18 to 49 say it is not too or not at all likely that they will have children someday, an increase of 7 percentage points from the 37% who said the same in a 2018 survey. Meanwhile, 74% of adults younger than 50 who are already parents say they are unlikely to have more kids, virtually unchanged since 2018.

> Among parents and non-parents alike, men and women are equally likely to say they will probably not have kids (or more kids) in the future. Perhaps not surprisingly, adults in their 40s are far more likely than younger ones to say they are unlikely to have children or to have more children in the future. Some 85% of non-parents 40 to 49 say this, compared with 37% of those younger than 40. And while 91% of older parents say they probably won’t have more kids, 60% of younger parents say the same.

> A majority (56%) of non-parents younger than 50 who say it’s unlikely they will have children someday say they just don’t want to have kids. Childless adults younger than 40 are more likely to say this than those ages 40 to 49 (60% vs. 46%, respectively). There are no differences by gender.

(Emphasis mine)

https://www.pewresearch.org/short-reads/2021/11/19/growing-s...

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