Percentage of Young Americans Living with Parents Rises to 75-Year High • Hacker News Board

Re: Percentage of Young Americans Living with Parents Rises to 75-Year High

#281

Post by slededit » Fri, Dec 23, 2016, 2:21 AM UTC

ebbv wrote: post #229

ChicagoBoy11 wrote: post #221

As a foreigner living in the U.S., I have to admit this obsession with leaving your parents house kinda baffles me. I'm from Brazil, and despite nearing my thirties, back home the majority of my friends live with their parents and it is hardly seen as a big deal. I think a big driver of this shift is the fact that in the U.S. it is extremely common for one to leave for college, whereas in Brazil literally 100% of my…

Speaking for myself, growing up in the US I couldn't wait to move out of my parents' house and live on my own. My friends were the same way. The reasons having my own place was appealing to me really boil down to independence. Being able to choose where I live, being able to decide my own priorities, not dealing with them being around and pestering me, having peace and quiet when I want it and being able to blast my…

Why is liking the same TV shows a precondition to living with them? I think the real underlying problem is American's don't seem big on the "live and let live" philosophy on the micro level. Which is strange because there is so much more diversity among larger groups.

Re: Percentage of Young Americans Living with Parents Rises to 75-Year High

#282

Post by white-flame » Fri, Dec 23, 2016, 2:24 AM UTC

taurath wrote: post #61

vinhboy wrote: post #36

Earlier quoted context omitted.

Completely agree. Now you make me wonder if the stigma around this kind of life style is being purposefully pushed by moneyed interest like home sellers etc...

It's not a stigma, it's societal expectations that ones offspring do better than their parents. Those expectations are being dashed, and heartedly. The millenials know we're being screwed, but the wall of people with massive equity/net worth tied up in their homes isn't budging. This will be a huge crisis going forward as we approach Australia levels of housing costs. Mark my words, in the next 20 years I believe wil…

The next 20 years will see large mortality in baby boomers, who bought their houses inexpensively and didn't move around much. That's going to return a lot of supply to the market and might drive prices down. At least outside the insane areas like San Francisco and Manhattan.

Re: Percentage of Young Americans Living with Parents Rises to 75-Year High

#283

Post by la6470 » Fri, Dec 23, 2016, 3:19 AM UTC

If this generation has heartedly embraced open office spaces then they should not mind sharing space with their parents either. The corporates had you by your balls and took away many hard earned rifts. Trump is gonna squeeze you now for the last drop of juice. Then and only then you might grow up.

Re: Percentage of Young Americans Living with Parents Rises to 75-Year High

#284

Post by linkregister » Fri, Dec 23, 2016, 4:12 AM UTC

Clubber wrote: post #230

linkregister wrote: post #95

Earlier quoted context omitted.

The time period from 1890 to 1929 experienced steady growth in the U.S. [1] The Roaring 20s was not the cause of the Great Depression. The Great Depression was caused by a variety of factors, primarily unsustainable debt issuance and overproduction in the agricultural sector. Other important factors include crushing wartime debts owed by European nations to American creditors (vastly harming exports), a liquidity cru…

Let me clarify. The primary debt issuance was debt taken by people doing stock market speculation. The joke at the time was that if your shoe shine boy was asking you about stocks, something weird is about to happen. The agriultural overproduction was a result of the drop in market prices for goods, so the farmers ramped up production to make up for it, ignoring good farming practices, notably proper tilling and crop…

The stock market in the 1920s held far less importance then than it does today. At that time, very few people had access to the stock market. The shoe shine boy anecdote is mythology.

It is true that margin calls cascaded to obliterate billions of dollars of value, but the investors impacted were mostly trading firms, banks, and capitalists. Joe sixpack had no exposure to it since there was no such thing as a market-backed pension fund (who even had pensions back then?) and 401(k).

Corporate earnings did not drop significantly during and months after the crash. Production and consumption were not affected.

The primary reason for bank failures in the following year were from agricultural defaults. The small, regional banks were the first to fall, not the big city banks.

I don't contest any of your points except "The roaring 20s caused the Great Depression." The economic growth in the 1920s was steady and mostly not speculative. The stock market was speculative but Finance was a much smaller part of the economy at that time. An avalanche of other factors were the causes.

I have no firm opinion regarding post-WW2 growth as anomalous. I think that the idea has merit. The scope of my argument is limited to 1890-1933.

Re: Percentage of Young Americans Living with Parents Rises to 75-Year High

#285

Post by linkregister » Fri, Dec 23, 2016, 4:17 AM UTC

pjmorris wrote: post #141

linkregister wrote: post #95

Earlier quoted context omitted.

The time period from 1890 to 1929 experienced steady growth in the U.S. [1] The Roaring 20s was not the cause of the Great Depression. The Great Depression was caused by a variety of factors, primarily unsustainable debt issuance and overproduction in the agricultural sector. Other important factors include crushing wartime debts owed by European nations to American creditors (vastly harming exports), a liquidity cru…

I always thought that the 'Roaring 20s' were caused by 'unsustainable debt issuance'. You seem to not connect the two... can you elaborate?

It's a common misconception that the stock speculation bought on leverage was the cause of the depression. Indeed, margin calls caused automatic stock sales to cover the leverage, forcing stock prices down.

However, the cascade of bank failures occurred due to due to defaulting agricultural loans. The loans' refinancing requests were suddenly refused when European powers pulled currency out of U.S. banks in order to pay their war debts and reparations.

The stock market crash was not the cause of the depression; just one of many larger factors that precipitated it.

Re: Percentage of Young Americans Living with Parents Rises to 75-Year High

#286

Post by sadface4004 » Fri, Dec 23, 2016, 9:32 AM UTC

madaxe_again wrote: post #278

sadface4004 wrote: post #267

Earlier quoted context omitted.

Perhaps. But why did they then chose to have a second child?

Both of us were accidents - hence the seven year gap - kids had never really been part of the plan. To say we were unloved would be wrong - but we were inconvenient, and never allowed to forget it. I'm glad to say that my dad seems to be getting it right the second time around, with wife 2.0, which underscores my upbringing being culturally rather than idiopathically driven - in the culture in which they lived, kids…

> Both of us were accidents

I wish people didn't feel obligated to have children if they know they don't want children or know they aren't up to doing it properly. It's not like accidents can't be "fixed".

This isn't directly aimed at you, I'm sure you are a wonderful person and are happy about this accident. I just feel children should not be had as status symbols or out of obligation.

> To say we were unloved would be wrong - but we were inconvenient, and never allowed to forget it.

Loved, but inconvenient. I'm having a hard time wrapping my mind around that one :) I guess that's cognitive dissonance.

Regardless, all the best. Thanks for sharing.

Re: Percentage of Young Americans Living with Parents Rises to 75-Year High

#287

Post by internaut » Fri, Dec 23, 2016, 9:41 AM UTC

madaxe_again wrote: post #158

lonesword wrote: post #107

23 year old Indian developer here. The concept of 'moving out' of your parents home is baffling for most of us. I now live in a different city and I share a decent apartment with friends. I can afford to live alone in the apartment I now live in - the rent is 30% of my monthly income and the apartment is 15 minutes away from where I work - but living alone would be just awful. So I'm now paying 11% of my income for r…

It's unreal how greatly the human experience can vary - I was born in the uk to itinerant parents (finance father), raised by a series of aupairs, and was sent to boarding school at six. Despite my parents being wealthy and having the space, I did not have a room at home from that point - when I went home for holidays, I would stay in the guest room, and when my brother was born, his room. When I "left home" at 16 up…

This is not uncommon among the upper classes I've known.

FWIW: Here is a gruff internet hug/shoulder squeeze.

Re: Percentage of Young Americans Living with Parents Rises to 75-Year High

#288

Post by rebootthesystem » Fri, Dec 23, 2016, 4:13 PM UTC

rhapsodic wrote: post #274

rebootthesystem wrote: post #132

The most natural state is to remain with your family until you form your own family. I have never understood the stigma attached to adult children living at home. Admittedly, this might very well be because I have lived in multiple cultures, most of which don't have this antagonistic "kick them out of the house" relationship between parents and adult kids. The other side of that story is that, yes, if an adult kid ha…

> personally believe that the family connection is crucially important and it must remain as intact as possible until the adult children are ready to form their own families. There is no better incubator for future good people than a good family life. I think there's something to be said for living on your own, cooking your own meals, doing your own laundry and housework, paying your own living expenses, and managing…

The things you mention are incompatible with adult children staying at home longer.

The secret is to have some of those things be part of normal life from when they are little. Bring the laundry to the washing machine. Help fold it. Help cook Help clean, etc. Not that difficult.

The financial side can be introduced initially through games and later on in different ways.

It just takes forethought and consistency. And it doesn't have to be punishment but rather part of normal life.

Re: Percentage of Young Americans Living with Parents Rises to 75-Year High

#289

Post by afarrell » Fri, Dec 23, 2016, 5:45 PM UTC

resolaibohp wrote: post #236

afarrell wrote: post #157

Earlier quoted context omitted.

They will probably be sold to rental management companies (of which there will be a whole bunch) or like liquid-property-investment startups like https://bricklane.com/

This will be a bigger problem in the near future. I keep seeing advertisements for property investments along the lines of the company you linked. Everyone thinks that housing is an investment and a way to make money. This has and will continue to drive up prices.

Why would it drive up rents? If people invest in properties to then let/rent them out, then there will be more homes on the rental market. The thing that will prevent this is if there are laws preventing new construction?

The thing that prevents new construction in many areas is laws designed to "preserve the character of the neighborhood". Homeowners/investors have an incentive to push for these laws to keep housing prices high. However, if they actually own a diversified asset that can grow with new construction by adding new properties, then that incentive is reduced.

Re: Percentage of Young Americans Living with Parents Rises to 75-Year High

#290

Post by pjmorris » Fri, Dec 23, 2016, 11:04 PM UTC

linkregister wrote: post #285

pjmorris wrote: post #141

Earlier quoted context omitted.

I always thought that the 'Roaring 20s' were caused by 'unsustainable debt issuance'. You seem to not connect the two... can you elaborate?

It's a common misconception that the stock speculation bought on leverage was the cause of the depression. Indeed, margin calls caused automatic stock sales to cover the leverage, forcing stock prices down. However, the cascade of bank failures occurred due to due to defaulting agricultural loans. The loans' refinancing requests were suddenly refused when European powers pulled currency out of U.S. banks in order to…

I didn't distinguish between borrowing for stocks and borrowing for agriculture. I see both as elements of the unsustainable debt buildup. I view the stock market crash as a symptom of the unsustainable debt, not as a cause.