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Why can't today's young adults leave the nest? Blame high housing costs

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Re: Why can't today's young adults leave the nest? Blame high housing costs

#21

Post by HPsquared »

atonse wrote: post #15

(Genuine questions, please don't misinterpret as negative judgement): How much of this is actually new as far as income vs costs, and how much of this is unwillingness to make sacrifices that older generations did? For example, in my 20s (20 years ago), it was very common for 20somethings to live in shared housing with 2-3 roommates. They would share kitchens, fridges, everything. And these houses weren't even that g…

On the last point, young people don't really start families any more. Or, it's on a significant decline.

Re: Why can't today's young adults leave the nest? Blame high housing costs

#22

Post by chung8123 »

atonse wrote: post #15

(Genuine questions, please don't misinterpret as negative judgement): How much of this is actually new as far as income vs costs, and how much of this is unwillingness to make sacrifices that older generations did? For example, in my 20s (20 years ago), it was very common for 20somethings to live in shared housing with 2-3 roommates. They would share kitchens, fridges, everything. And these houses weren't even that g…

I wonder about the moving further out part. I know my grandparents moved into a town that was way out there but as more and more people moved to the area it became less remote. Same thing happened with my parents. It was not uncommon for less desirable areas to be where starter homes where purchased. I guess the data that would disprove/prove this would be population size vs prices.

Re: Why can't today's young adults leave the nest? Blame high housing costs

#23

Post by mullingitover »

atonse wrote: post #15

(Genuine questions, please don't misinterpret as negative judgement): How much of this is actually new as far as income vs costs, and how much of this is unwillingness to make sacrifices that older generations did? For example, in my 20s (20 years ago), it was very common for 20somethings to live in shared housing with 2-3 roommates. They would share kitchens, fridges, everything. And these houses weren't even that g…

> Are the prospects actually there in smaller towns? They might be more with remote work now.

The prospects in small towns are atrocious, that's why they're small towns. If you want to see what a post-apocalyptic world is like, just drive through a random small town in the midwest. There's a downright spooky vibe to them, they're sprinkled with abandoned and rotting buildings.

The dream of remote work is largely dead, or at least back to pre-pandemic state. Only top tier talent can get remote work, there's a ton of competition for those jobs.

Re: Why can't today's young adults leave the nest? Blame high housing costs

#24

Post by epiccoleman »

aantix wrote: post #14

I'm surprised with remote work we haven't seen a resurgence of the small town. Towns within an hour of a bigger city, but small enough where the real estate is still reasonably priced. Maybe when this young adult generation starts to consider kids, this option might become attractive.

We were recently considering moving closer to "back home" from our metro area - the biggest problem is that there's just not much going on back there, and the schools are substantially worse. That said, a pretty nice and big house that we were looking at in our "home" area was actually something we could afford - the same house here in the city would probably cost close to double.

Re: Why can't today's young adults leave the nest? Blame high housing costs

#27

Post by sefrost »

HPsquared wrote: post #26

Every year for the last 5 I've thought "this must surely be the top of the market, I'll wait".. And every year they went up. Now interest rates have gone up too, to add insult to injury. Just going to leave for greener pastures, I think.

Where are you and where are you heading to?

Re: Why can't today's young adults leave the nest? Blame high housing costs

#29

Post by toomuchtodo »

paulpauper wrote: post #25
toomuchtodo wrote: post #2

I don’t think society has yet realized the cascading effects this will have on fertility rate and compression of the demographic pyramid.

then wouldn't this attenuate the unaffordability problem?

What is your time horizon? Sure, in 50 years, housing supply might improve. Most of us will be dead by then, but I suppose the problem solves itself.

Re: Why can't today's young adults leave the nest? Blame high housing costs

#30

Post by willcipriano »

epiccoleman wrote: post #24
aantix wrote: post #14

I'm surprised with remote work we haven't seen a resurgence of the small town. Towns within an hour of a bigger city, but small enough where the real estate is still reasonably priced. Maybe when this young adult generation starts to consider kids, this option might become attractive.

We were recently considering moving closer to "back home" from our metro area - the biggest problem is that there's just not much going on back there, and the schools are substantially worse. That said, a pretty nice and big house that we were looking at in our "home" area was actually something we could afford - the same house here in the city would probably cost close to double.

School quality is overhyped, what they are really measuring is student quality for the most part.
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