For First Time in Modern Era, Living With Parents Edges Out Other Living Arrangements for 18- to 34-Year-Olds
I know these stats are for the U.S., but here in Vancouver the vast majority of young adults either live with their parents or rent (typically with roommate(s))… And can’t see an alternative now that the average detached house is going for $1.4 million (as of last month). Our housing market is out of control and continuing to increase daily… Wealthy Chinese investors playing a huge role. I don’t live with my parents, but as a successful professional with a decent salary around the age of 30, I rent an apartment for my wife, baby and I and aspire, someday if our household income gets well over the 6 figure mark, to perhaps buy a modest townhouse.
… But hey, it’s one of the most beautiful cities in the world and I wouldn’t live anywhere else.
Sounds like San Francisco with cheaper health care
And far fewer homeless and strident homosexuals. And more Canadians.
Yeah, we’re the Canadian West Coast after all. There are definitely similarities. Speaking of health care, my wife is an immigrant from the DR and she got on the Province’s public health insurance literally the week before she gave birth to our son…thank God too as she needed an emergency c-section. Very grateful we don’t have to deal with medical debt in addition to unattainable housing prices.
I have noticed in our times today younger people seem to take longer to grow up, example, back in my grandparents time, when a person reached about 14-17, they were pretty much an adult and often worked full time, and sometimes paying the bills, even back in the 70s, when my parents were around 18-19 yr old, they were basically grown up adults, working full time, apartment or house, etc. Compared to today, many people in their late teens up to about mid 20s still run around and act like they are kids.
I guess its just what happens though, I hate to think how it will be in another 20 yrs!
I wouldn’t say immaturity is the reason for this…
Living with one’s parents until they died was the norm for much of human history.
I know a lot of people who either stayed with their parents or they moved into an apartment with various other people due to the cost of living always increasing. Even those who live on their own have their parents chipping in financially.
No matter how many times I hear the justifications for it, at the end of the day - whether discussing land owners, those leading these construction projects, or the city itself - it’s finger pointing by these three that are nothing more than a lame attempt at a smoke screen and trying to downplay the underlying issue: a fool and his money are soon parted.
I am 18 and I still live with my mother. There is nothing wrong with that. I will move out when I graduate from college.
Live at home as long as you can! Heck, if you live at home long enough, your parents will move out!
(I’m serious! I used to tell my dad & stepmom, “I love you so much I’m never leaving!,” just to see their reactions!).
But when the move out, they may sell the home to pay for the buy-in cost of a retirement community.
And that’s okay, because you are going to school with the intention of leaving upon completion. I think many have a complaint with those who live at home, and are perfectly content to do so, living off their parents hard
I wouldnt say immaturity either, but it does seem as we progress, people are sort of forced to grow up later and later, look back thru the past 150 yrs for the proof of that.
At one time, it was common for most girls to have found husbands by the time they were 16-17, today, many 16-17 yr old females would not be ready for this type of life. It basically has to do with how easy life is I guess, back then things were tougher, so people had no choice but to grow up, however today, not so much.
Or maybe it’s a consequence of the fact that wages have been stagnant for 40 years while the cost of housing has continued to increase.
We also used to use corn cobs and pine cones to clean up after using the privy.
Situations and context changes, and there were reasons that made sense as to why we did things in the past.
Today’s reasons are not necessary good ones. Stagnant wages despite inflation, poor job market, generally lack of shame among millennials about pretty much anything - all factors.
I’d do everything in my power to move out once I had finished school and landed any job, whether or not Daniel Boone lived with his mother until he was 30.
I have two children, one in his mid-thirties, and one in her mid-late twenties. Both of them were able to overcome the stagnant wages, and the ridiculous and burdensome increase in taxation to be able to live on their own. My daughter is a teacher in a Lutheran school, and has been since graduating from a Lutheran college. She is living just fine on a teacher salary, paying off her student loans, with virtually no help from my teacher’s salary.
I think the larger problem is the consequence of federal interference in public schools without a constitutional mandate, the direct result being American young people are poorly prepared for careers. This is exacerbated by the growing effects of the failed welfare state which encourages a belief in entitlement, and minimizes the importance of hard work and individual responsibility.
My children have had to work very hard to get where they are, and they are not alone. Millions of young adults have. But others have been saddled with the yolk of either government dependency, or a government-induced thought process that it is okay to live off the hard work of others (I am excluding here the individuals who, by no fault of their own, either due to health or other uncontrollable limitations, must receive the assistance of others). We have seen this yolk of dependency grow substantially under the current regime in Washington, where the number of food stamp recipients has grown dramatically, and the number of people forced out of the workforce, in large part due to government regulatory and tax policy, is as high as its been in decades.
As for housing costs, some of the highest housing costs are in areas with the greatest government interference in free market housing prices and building. No surprise that.