A secret of many urban 20-somethings: Their parents help with the rent
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Re: A secret of many urban 20-somethings: Their parents help with the rent
#2Been there. As one of the 20-something whose parents didn't help with the rent.
Two consequences:
- really tough discussions with some friends and acquaintances once I realised their parents heavily subsidized their way of life while they were putting the social persona of young working adult being independent and nagging me about when I was going to buy my first car or why I was always the one who made it through the whole night with one glass of beer
- really hard to move up in the adequate social circles and no care-free attitude which led to a much harder job hunt, grimmer prospects in relationships (partly cost me the love of my life) and way too much stress to be healthy
I don't blame people for being helped though, that's not my point.
Re: A secret of many urban 20-somethings: Their parents help with the rent
#3Is this an American thing? It's pretty common in Germany, but I remember that foreigners often see us as the 'renters'-country (meaning the majority rents instead of owning a property), so there might be a difference. Just wondering why this seems an increasing thing in your cities.
It's also no big secret that parents often support their children far beyond the school time if they are not able to apply for student loans (Bafög).
Re: A secret of many urban 20-somethings: Their parents help with the rent
#4Been there. As one of the 20-something whose parents didn't help with the rent. Two consequences: - really tough discussions with some friends and acquaintances once I realised their parents heavily subsidized their way of life while they were putting the social persona of young working adult being independent and nagging me about when I was going to buy my first car or why I was always the one who made it through th…
Why didn't they help?
Re: A secret of many urban 20-somethings: Their parents help with the rent
#5As a landlord of multiple properties in Boston I can confirm the parents pay the rent.
Re: A secret of many urban 20-somethings: Their parents help with the rent
#6Subject to change while I parse the source data set, but I'm not sure their conclusions are sound. Specifically the reliance on averages and amortizing the existence of yearly lump sums to monthly assistance. And the wording of "has ever" so a single gift/loan now gets extended to reported as years of monthly assistance.
For example, parents providing their child with first month's rent/security deposit for the first place after college I wouldn't say is indicative of "financial dependence". Especially considering the data was for 2013 when getting credit for short term loans as a young person was even harder than it is today. Feels more like another dressed up "entitled millennials living off those hard working boomers again".
Re: A secret of many urban 20-somethings: Their parents help with the rent
#7Is this an American thing? It's pretty common in Germany, but I remember that foreigners often see us as the 'renters'-country (meaning the majority rents instead of owning a property), so there might be a difference. Just wondering why this seems an increasing thing in your cities. It's also no big secret that parents often support their children far beyond the school time if they are not able to apply for student l…
I think owning your own home is (or was?) part of the "American Dream." See e.g. http://www.nytimes.com/1988/09/11/realestate/in-the-nation-w...
Re: A secret of many urban 20-somethings: Their parents help with the rent
#8Been there. As one of the 20-something whose parents didn't help with the rent. Two consequences: - really tough discussions with some friends and acquaintances once I realised their parents heavily subsidized their way of life while they were putting the social persona of young working adult being independent and nagging me about when I was going to buy my first car or why I was always the one who made it through th…
Why didn't they help?
I'm not sure this is a polite question to ask; the odds of digging up pain seem pretty high.
Re: A secret of many urban 20-somethings: Their parents help with the rent
#9Not sure how the article concludes that young adults don't tell their friends about family financial help. It's not a question on the PSID survey and it doesn't seem to be in the michigan PSC report.
The secrecy of financial help is a really important claim because it affects how under-resourced college grads plan their 20s; irresponsible of the authors not to footnote this.
Re: A secret of many urban 20-somethings: Their parents help with the rent
#10As a landlord of multiple properties in Boston I can confirm the parents pay the rent.
One of my college roommates would get a small stack of signed blank checks from his mother every time he went home, in order to pay the rent and whatever else came up. He kept them underneath his mattress, which we discovered when we had to move from one apartment to another and his ass never showed up to help.