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The majority of 18- to 29-year-olds in the US are now living with their parents

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Re: The majority of 18- to 29-year-olds in the US are now living with their parents

#681

Post by nsm »

WarOnPrivacy wrote: post #670

There are 5 18-29-year-olds in this house (plus myself). Here's what we learned. Very, very few companies will consider an applicant without a job history. Felons tend to have easier time finding employment than HS Graduates. Which companies hire w/o job history? Applicants don't know. It's not like companies advertise their hiring bias. Sometimes word of mouth may lead you to a reasonable employer - in which case th…

This is an excellent point. I know someone who is having a really hard time finding jobs because they just got out of school, but there are hardly any entry-level positions and the ones present are highly contested. They must have applied to >200 places at this point. This is in a non-software, but STEM field.

Re: The majority of 18- to 29-year-olds in the US are now living with their parents

#682

Post by hunter-gatherer »

eternalban wrote: post #508
throwaway2048 wrote: post #482

Earlier quoted context omitted.

Now imagine all the human stories that are forced into this situation that aren't heartwarming.

You mean all the entirely predictable situations, like guaranteed increase in sexual abuse and domestic violence? When this genius plan was announced in late winter, I couldn't help but think of all those poor souls who lost whatever safe space (school, library, job, whatever) they had that kept them away from an abusive person in their lives, who were now together 24/7 under psychological and economic stress. Of cou…

I'm not sure why you were down-voted so much. There are real negative consequences for a State-wide lockdown that aren't immediately as obvious and the consequences of not locking down. I'm curious how in depth that analysis/discussion was, or if everything has been just knee-jerk reactions to the latest news and data points.

Re: The majority of 18- to 29-year-olds in the US are now living with their parents

#683

Post by prewett »

klmadfejno wrote: post #542
tidepod12 wrote: post #284

Earlier quoted context omitted.

>One is because homes today are substantially larger and have more amenities than they did in previous generations. I have noticed that most of my fellow millennials seem to have completely forgotten the concept of "starter home" and assume that as soon as you turn 25 you should be entitled to a 4 bedroom house with a pool, huge yard, wonderful neighborhood, three-car garage, etc. Among my friends that have bought ho…

> I have noticed that most of my fellow millennials seem to have completely forgotten the concept of "starter home" and assume that as soon as you turn 25 you should be entitled to a 4 bedroom house with a pool, huge yard, wonderful neighborhood, three-car garage, etc. Then you've got a non representative sample. This claim is outrageous, and it's not true. Honestly it pisses me off how casually you just assert that…

> Honestly it pisses me off how casually you just assert that most millenials think this way.

He never asserted anything about "most millenials" and specifically talked about his friends. If someone talking about their personal experience with their owns friends pisses you off, then you're reacting to something else.

Re: The majority of 18- to 29-year-olds in the US are now living with their parents

#684

Post by analog31 »

names_are_hard wrote: post #323
ARandumGuy wrote: post #301

Earlier quoted context omitted.

Because paying off a loan early means that loan has had less time to generate interest, which means the bank gets less money. On an extreme example, imagine taking out a loan, then you pay it all back the next day. The loan has earned no interest, but the bank had to spend a bunch of time and money to get the loan set up. Of course, early payment penalties are still pretty scummy. However, it does make sense why a ba…

I don't know if they're scummy. When I buy a typical corporate bond I expect that the company will pay until maturity. If I buy a callable bond wouldn't I expect to be compensated for the one sided exposure to interest rate risk I'm exposing myself to (rates go up I lose, rates go down I lose)? With consumer debt we have different expectations of what's fair, but consider the bank's risk profile here - if interest ra…

In my view, the chance that a loan will be paid off early can be worked into the risk calculation that the bank uses for coming up with the interest rates and fees that they are willing to offer, and also for computing the cash value of the mortgage on the secondary market. At the end of the day, the bank just wants to know that they can sell the loan for more than it cost to originate it.

An issue with consumer debt is that a proliferation of fees and "fine print" make it confusing for folks to understand what they're signing up for, and to do comparison shopping on loans.

Traditionally, folks were advised to be wary of prepayment penalties because of a widespread strategy to prepay a loan if possible. When interest rates were high, this was like an investment with a guaranteed percentage return.

For instance, my family took out a loan with a particular payment, but we paid more than the minimum each month because we could afford it. On the other hand, being able to drop back to a lower payment was a kind of safety net in case something happened to one of our jobs, or something like that.

Re: The majority of 18- to 29-year-olds in the US are now living with their parents

#685

Post by 1DRACOSEA8 »

mandelbrotwurst wrote: post #557
tanilama wrote: post #526

Earlier quoted context omitted.

I agree. I don't like what the title tries to suggest that living with your parents is something wrong/abnormal? Why is that? I understand for many it is not a choice, but it doesn't necessarily meaning people are suffering as a result.

The American status quo is based on around individual independence and for better or for worse anything that moves away from that is considered a regression.

Not enough butt sniffing nor use of the hacker newss innuendo and nuance glossary and vocabulary of success, but in four sentences you complete my: we are by de facto a third world shit hole. Dare I say you sound like a commoner, aka a non hacker news poster who, god forbid, made perfect sense without the innuendo or the nuance. But by all means, chastise my moniker for speaking sense to a bunch of pamperered boot camp JavaScript noobies.

Re: The majority of 18- to 29-year-olds in the US are now living with their parents

#686

Post by brational »

zpeti wrote: post #95
augustt wrote: post #60

Earlier quoted context omitted.

> Let things fail, so that the waste can get burned off I guess the waste here is people who simply can not pay for food or housing? What a naive take.

No, it's zombie companies kept alive by stimulus cheques, and management who get to stick around and failing companies that should have gone under 20 years ago.

a better solution is raising minimum worker benefits & protections, pigovian taxes as well where necessary, etc. If a company cannot earn enough money while meeting some basic minimum requirements to society then it should fail quickly.

In the scenario you're asking for - the zombie companies just layoff employees, cut wages/benefits, landlords evict, etc. The zombie lives on just fine until the market corrects while everyone else fails.

You're correct that failing companies need to fail but your "just let the free market handle it" approach is a fairy tale.

Re: The majority of 18- to 29-year-olds in the US are now living with their parents

#687

Post by Zippogriff »

tstewart161 wrote: post #652
ng12 wrote: post #419

Earlier quoted context omitted.

I grew up in a small rust belt city. 40 years ago there were reasons to live there: factories with union jobs and an entire local economy built upon them (financial services, a hospital, bustling main street, etc). All that's gone now. It's not that I wouldn't be content like my parents were, it's that it's fundamentally not the same city it was back then.

It’s not like the dichotomy is so stark. Like the parent comment said: Raleigh is cheap but still bustling with plenty to do, Richmond, Baltimore, Atlanta, and so on are bustling but not stupid expensive. It’s not just “ghosts town” vs “expensive modern city”

I don't know whether it accounts for the entire "housing's more expensive everywhere" perception, but it sure seems like the only houses that exist near good schools and are cheap on a per-square-foot basis are giant, so still not cheap, thanks to a combination of zoning and developer incentives. It's not like we could live in a significantly smaller house if we wanted to.

Another change is that smaller houses have giant rooms. If you want a 4-bedroom in a decent school district (so, around here it'll be 80s construction at the very earliest, probably late-90s or later, or else in one of a couple very rich and expensive areas that have older houses) you're in for a giant house. A 1960s middle-class 4-bedroom probably has about the square footage of a modern 2-bedroom. Sqft./room is way up across the board. Further, floorplans that look nice in a walk-through or in photos but are incredibly wasteful of all that "cheap" square footage are the norm.

Re: The majority of 18- to 29-year-olds in the US are now living with their parents

#688

Post by Izkata »

jayd16 wrote: post #199
_qulr wrote: post #158

Earlier quoted context omitted.

Can we please stop with the term "Millennials"? The article talks about 18-29 year olds. The most widely accepted definition of Millennials is people born 1981 to 1996, which would be 24-39 year olds. Not the same. Regardless, the financial differences between people the exact same age are always vastly larger than the financial difference between so-called "generations".

Hmm the article is not about Millennials but perhaps the comment was. I don't think GenZ has "experienced" two years long recessions like Millennials have.

Hell, depends on what you mean by "experienced" as well. I'm a mid-range Millennial, and was in college during the Great Recession - not even aware of it until after it was over. This year is the first recession I'm actually experiencing.

Re: The majority of 18- to 29-year-olds in the US are now living with their parents

#689

Post by dannykwells »

I live with my wife's parents. Well, really, they live with us. And I think it is glorious. Always someone around to chat with, play a game with. We get last minute childcare help and sit cooking, cleaning and upkeep. For them, well they get super cheap rent in the place they want to live and tons of grandkid time.

Multi generational housing is the the norm in so many societies. For the US to constantly bemoan it speaks mostly to our fucked up family culture and little else. I couldn't be happier living with extended family and hope to do so for a long time.

Re: The majority of 18- to 29-year-olds in the US are now living with their parents

#690

Post by chrisseaton »

kelnos wrote: post #553
munificent wrote: post #464

I really love the quote at the end: > I'm a dad who is happy to have his daughter and fiancé living with me. They pay the utilities and make me nice meals, and it makes it a lot less lonely here. ... I like the multi-generational thing. I know it won't last forever, but it makes life better for now. It's so easy to get into that cold statistical mindset about these large-scale trends, but it's good to remember that t…

It's also useful to note that the "nuclear family" is a very Western thing, and the US takes it to an extreme. In other parts of the world it's abnormal for adults in their 20s to be living anywhere but with their parents, often even with a fiance or new spouse in the mix. The idea that having a multi-generational household means that the younger members haven't "grown up" and need to "learn to live on their own" is…

How does it work in practice in other societies?

How do you have a grown up, likely physical, relationship with your partner... when your parents are sharing the same rooms? Do you just hide in your bedroom the whole time?

How do you develop your own relationships and life and way of doing things and way of raising your children, inside someone else's house? I can't understand that but I'm open to hearing about how.

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