A Secret of Many Urban 20-Somethings: Their Parents Help With the Rent


#1

mobile.nytimes.com/2017/02/09/upshot/a-secret-of-many-urban-20-somethings-their-parents-help-with-the-rent.html

Almost half of people in their early 20s have a secret, one they don’t usually share even with friends: Their parents help them pay the rent.

Moving into adulthood has never been easy, but America’s rapidly changing labor market is making it harder to find economic security at a young age. Skilled work is increasingly concentrated in high-rent metropolitan areas, so more young people are tapping into their parents’ bank accounts.

According to surveys that track young people through their first decade of adulthood, about 40 percent of 22-, 23- and 24-year-olds receive some financial assistance from their parents for living expenses. Among those who get help, the average amount is about $3,000 a year.


#2

I have no problem with helping my kids if they are in need.

With that said, what incentive do potential employers have to pay a fair wage if Mom and Dad are subsidizing their living? Why demand higher pay when Mom and Dad contribute?


#3

Care to comment?

My daughters simply can’t afford to live on their own.


#4

I think it’s shameful that salaries have not increased with the cost of living. We were barely treading water until my husband’s most recent promotion and his parents helped us out from time to time.


#5

I wonder why this article only explores those aged 22, 23, and 24. I bet the numbers are comparable up to 27-28 years old! I was only able to move out of my parent’s house when after I turned 30 :blush: prior to that I had so much student loan debt and such a small income that it was infeasible.

On the bright side, thanks to them, I’m on track to pay off my loan 5 years early!

Also, maybe this article should serve as a reminder to not go into the Art and Design field…


#6

It is all about the choices you make. The data on art students was unsurprising.

My rent is around 1k monthly. Due to a roommate, community college, not eating out often, and working a blue collar job, I do not need to rely on my parents.


#7

This should be a matter between the parents and their children.


#8

Bully for you. :rolleyes:


#9

If people would let the marketplace work, wages would go up. A big part of the high cost of living is due to regulation and property taxes, which I’m sorry to say that many Americans will take.

It doesn’t have anything to do with Mom or Dad really. That’s more of an argument for credit card companies and college students.


#10

:thumbsup:


#11

Sounds like you have it planned out and are disciplined! Congratulations! It is not easy going to school an working too.


#12

Good for you. Here, $1k will rent a studio owned by a slum lord and filled with bugs. Childcare is too expensive for me to work unless I get a grad degree, which I can’t do due to needing childcare to do it. My husband has a very decent salary that would be solid middle class anywhere else, but it doesn’t go far around here. Both of us have practical degrees and he’s almost done with a grad degree.


#13

Our land use regulations are often very extreme. It would be simple to provide plenty of affordable housing, but regulations often prevent it, even in places where people often vote republican. Neither side is interested in letting the market provide affordable housing.


#14

Come out to the Midwest, housing is far less expensive, some of the states are run by Republicans, and we can always use people like you and your husband.


#15

I remember in another post you mentioned possibly moving to Denver. I have no idea what your specifics are, and I didn’t say anything then, but I just want to say there are other places where your money might go further. We’re considering a move in the next few years for that reason. We aren’t poor, but we aren’t climbing either, and a minimum wage law was passed this last election to be 12$ by 2020, so you’d be paying at least that much for child care. (Yeesh, when I left my retail job five years ago, I certainly wasn’t making that much.) Housing here isn’t as cheap as it used to be. Just some friendly advice. Take it or leave it. It’s a pretty place to live.


#16

You live in one of the highest cost of living areas in the entire country (assuming NOVA stands for Northern Virginia). There are a lot of lower cost of living areas within commuting distance of Northern Virginia. Why don’t you move? There are places within commuting distance of Northern Virginia where you can by a house with a yard for about $1K a month.


#17

My husband works in DC, and any place that cheap is either in PGC or will involve an awful commute and having to pay ridiculous sums for parking, not to mention requiring us to buy at least one car.

My cousin moved out to West Loudoun county and her husband has to spend most of the week at her parent’s because the commute is that bad.


#18

What’s wrong with Prince George’s County? My family spent 3 generations there. My dad was a D.C. firefighter and commuted from Prince George’s or Anne Arundel counties for decades. I know a fair number of people who live in St Mary’s County and work at the Pentagon or Crystal City. They take a shuttle. My point is most of these people in the article affect victim status, but really they choose to live in a place they can’t afford. They’re not victims, they’re volunteers.


#19

Higher crime and terrible schools, plus my husband needs in state tuition for the degree he’s currently pursuing.


#20

With the demographics of Prince George’s County, if I had cited high crime and terrible schools as reasons for not wanting to live there, you’d probably call me a racist. Just sayin’. And Maryland has some wonderful universities.


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