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42% of adults rely on their parents for financial support

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Re: 42% of adults rely on their parents for financial support

#241

Post by fragmede »

inigyou wrote: post #198
mothballed wrote: post #188

Earlier quoted context omitted.

Yes edit: as a comment, there are a lot of people in places like big island hawaii for instance, that do something like this under burner LLCs with shipping containers, then just move them when caught and do the same thing over again.

I suppose as long as it's 100% temporary, it might be legal (I am not your lawyer). So maybe a caravan trailer, a tent, or a covered up cargo bicycle will be allowed. But I'm not paying $100k to sleep in a converted bicycle bin, I can do that just as well under a bridge!

Location, location, location. Where's this bicycle bin and where's this bridge?

Re: 42% of adults rely on their parents for financial support

#242

Post by fragmede »

LastTrain wrote: post #240
rainsford wrote: post #234

Earlier quoted context omitted.

Those aren't really two different arguments. Wanting housing to be a good investment is one of the reasons we have a supply problem because it incentivizes people to vote against allowing more housing to be built. But at the end of the day the high cost of housing really is a simple supply problem, it's the reason for that lack of supply that's more complex.

Maybe you can point me to a recent example in the US where more housing was built resulting in a noticeable decrease in housing costs. And a good investment is one where the value increases faster than inflation, the math doesn’t work.

Austin. They built a ton of apartment buildings so rent is down.

Re: 42% of adults rely on their parents for financial support

#243

Post by cal_dent »

inigyou wrote: post #193
rurp wrote: post #179

Earlier quoted context omitted.

It's all talking points on both sides. "Build more housing" being the one true solution has become a religious tenant in a lot of wonkish circles. I see it repeated uncritically every single time this topic comes up on HN and similar spaces. The reality is that demand is always going to far outstrip supply in certain areas. You can only cram so many houses into a place like San Franciso, even if you raze the city to…

Isn't SF infamously a SFH zone that makes no sense? If you razed the whole city and rebuilt it like Manhattan, you wouldn't have 25% more inhabitants, you'd have 25000% more. And if you improve public transit (I heard BART is some that's pretty good by American standards but not by European standards?) you can drastically widen the area that feels like the core city (just take a look at Berlin which I'm familiar with…

every single city you mentioned there also has significant housing issues. So as per the original comment, the actual solution is more complicated than the debate typically tends to acknowledged.

Densifying homes will help, don't get me wrong, but its far from the silver bullet HNs lads like to claim. Now, not densifying jobs and employment centres as much as modern society as done on the other hand....well, now we may be on to something with legs

Re: 42% of adults rely on their parents for financial support

#244

Post by fragmede »

conductr wrote: post #58
cliglot wrote: post #42

How you define “rely”. I’ve certainly seen trust fund kids who’s success is anchored on “daddy gave me a sweet job at his company” and others who’d be dead or in prison if it wasn’t for the constant money poured into the legal system by their parents.

There’s a huge spectrum. I’m mid 40s and my wife grew up much wealthier than I did. We have done quite well, but I I’m a bit frugal, like to save, despise waste and excess, and therefore don’t like traveling like they do. I like traveling but all the fancy upgraded experiences at every turn is what I refuse to spend money on. But we don’t go without, we “rely” on my in laws to upgrade our travel (or that’s how my wif…

Is it taking advantage if they have a lot of money and want to spoil their daughter and son-in-law?

Re: 42% of adults rely on their parents for financial support

#245

Post by fragmede »

toast0 wrote: post #116
dyauspitr wrote: post #71

Earlier quoted context omitted.

I have never asked my parents for money. They have had to resort to trickery (asking for bank details for some passport stuff) to send me money. I hope to be able to do the same for my kid.

Always check the pockets of jackets before donating! My mom snuck $100 in a jacket my wife almost donated without realizing.

Then again, the person receiving the donated jacket could use the $100 more than the person donating it. It's fun to imagine what I might do if a billionaire gave me a million dollars, or 0.1% of their wealth. Thing is, me giving $5,000 to a homeless person would change their life more than me getting that million dollars.

Re: 42% of adults rely on their parents for financial support

#246

Post by maxerickson »

rurp wrote: post #179
ProfessorLayton wrote: post #159

Earlier quoted context omitted.

Almost everything you said is a typical NIMBY talking point: > Dozens of “luxury” units built cheaply, selling for 4,000$ for a 1 bedroom A nebulous definition of "luxury", and totally ignores the fact that people with money can get what they want anyway, pushing those with less out. So yes, more "luxury" builds help. > They get subsidized by the local government for including maybe 5 units that are “low income” and…

It's all talking points on both sides. "Build more housing" being the one true solution has become a religious tenant in a lot of wonkish circles. I see it repeated uncritically every single time this topic comes up on HN and similar spaces. The reality is that demand is always going to far outstrip supply in certain areas. You can only cram so many houses into a place like San Franciso, even if you raze the city to…

Do you think yimby's hate transit and encouraging revitalisation?

They are going to support both for the same reason that they are yimby's...

Re: 42% of adults rely on their parents for financial support

#247

Post by fragmede »

inigyou wrote: post #205
pizzafeelsright wrote: post #160

Earlier quoted context omitted.

I know my neighbors very well due to my personality. There are 20-40 year old adults who live with their parents for various reasons. The foolish "children" are those who order door dash at 3am with no income or education. They are unable to 'launch' from their parent's orbit. i feel terrible for these people. As mentioned, I know them well and they do not have an excuse other than laziness and permission. The rule '…

> The rule 'those who do not work do not eat' is something all people can agree Um, no? Thanks for suggesting a possible left/right political litmus test though. We shouldn't have to waste too many resources on "useless people" but I think starving them to death is a bit excessive. We don't have a shortage of food. They're more likely to need mental health services or spiritual guidance to help them not be useless -…

Some people do think money grows on trees and don't want to work. Maybe there's a way to spiritually guide them otherwise, but I'm not exactly excited to pay my taxes to support them. There are both rich and poor people that think that way, mind you, the rich ones just chose richer parents to be born to. Some people will never change their mind about it. Is society expected to support them forever and never see any return?

Re: 42% of adults rely on their parents for financial support

#248

Post by xracy »

sudobash1 wrote: post #232
annjose wrote: post #9

Whenever I see a claim that "x% of adults do y", my brain goes: - "x% of what? what is the denominator?". Without that number, the claim is meaningless. - surely it cannot be the entire population, so it has to be a survey. - how many people participated in the survey? what was the distribution? Here is that info for this study. I found this in the PDF version of the study report [0] referred to at the end of the Nor…

> "x% of what? what is the denominator?" Another reason the denominator is important is that "parents" are (hopefully) completely a subset of "adults". And not all adults have living parents. So who is counted: - All adults - Adults with living parents - Adults within an age range - Adults without children or what? This really belongs in the title. Without it, as you say, the statistic is meaningless.

Came here looking for this response.

My follow-up question is "What percentage of the 'totally independent' group, are parents with adult children?"

i.e. there's almost an interesting statistic here about what percentage of adults have "no option" in relying on their parents for financial help, and what percentage of the remainder still do rely on their parents.

But once I had this question, I realized that I needed to be suspicious of the % itself.

Re: 42% of adults rely on their parents for financial support

#249

Post by fragmede »

piguin wrote: post #30
alistairSH wrote: post #13

Earlier quoted context omitted.

Source: https://news.northwesternmutual.com/planning-and-progress-st... OK, now I'm questioning the whole thing... it also claims 17% of Boomers reliant on their parents. So, we have some substantial number of 62-80 years olds relying on their 90-100 year old parents? Seems unlikely.

Maybe you're not familiar with the entire economy? There are a lot of households that depend on retirement checks of the oldest members and households that don't have traditional work but may have family homes, businesses and farms still in the name of the oldest relatives. Different groups would have different results as far as whether they will inherit independence or become destitute if parents die.

Life expectancy doesn't reach 100 anywhere. 85 is about the highest. There are some areas of people who have lived to be 100, but that's not average life expectancy. So while I can believe there exist people who are dependent on their 90-100 year old parents, 17% is ridiculously high. Usually, the direction is the other way, with adult children supporting aging parents.

Re: 42% of adults rely on their parents for financial support

#250

Post by 10000truths »

mothballed wrote: post #200
inigyou wrote: post #197

Earlier quoted context omitted.

What was the loophole?

Do everything yourself and it never touches commercial regulations on licensing, inspection, and and building plans. I recorded a sworn affidavit with the county I was building it myself on my own property for purely personal residential use and then they issued me a permit explicitly stating I did not need to submit building plans or inspections. Since the house was built without any compensation and not used for an…

May I ask where this was? This seems like the kind of thing that would be highly dependent on the wording of the laws of your municipality or state.
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