Goodbye, empty nest: Millennials staying longer with parents

[don-o]

Goodbye, empty nest: Millennials staying longer with parents

 By CHRISTOPHER S. RUGABER
AP Economics Writer

http://hosted.ap.org/dynamic/stories/U/US_MILLENNIALS_AT_HOME?SITE=MYPSP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2016-05-24-10-00-52

For the first time on record, living with parents is now the most common arrangement for people ages 18 to 34, an analysis of census data by the Pew Research Center has found.

Nearly one-third of millennials live with their parents, slightly more than the proportion who live with a spouse or partner. It's the first time that living at home has outpaced living with a spouse for this age group since such record-keeping began in 1880.

The remaining young adults are living alone, with other relatives, in college dorms, as roommates or under other circumstances.

The sharp shift reflects a long-running decline in marriage, amplified by the economic upheavals of the Great Recession. The trend has been particularly evident among Americans who lack a college degree.

The pattern may be a contributing factor in the sluggish growth of the U.S. economy, which depends heavily on consumer spending. With more young people living with their parents rather than on their own, fewer people need to buy appliances, furniture or cable subscriptions. The recovery from the 2008-09 recession has also been hobbled by historically low levels of home construction and home ownership.

excerpted

[Free Vulcan]

I would like to see this broken down regionally. Betcha the interior states and rural areas have a much less higher rate.

And the generational thing. If you accept 20 year generations, and that the Boomers started being born in '46 after the troops came home, then the generational ages currently are:

10-30 y/o: Millenial
30-50 y/o: X
50-70 y/o: Boomer

I swear the media tries to make the X-gen about a five year spread because we didn't live up to their liberal expectations..

[mirraflake]

I would like to see this broken down regionally. Betcha the interior states and rural areas have a much less higher rate.

You are right. I live in rural flyover country don't know many kids 18+ still living with their parents. My  nieces first job out of college in DC a few years ago paid $60k per year but apartment rent is $3000+ per month or more if you don't want to live in the ghetto.

She lived with my sister and BIL for 6 months and then moved in with 3 other gals when they rented a 4 bedroom townhouse.

[jmyrlefuller]

That, and in some of the poorer areas, the kids end up having to financially support the parents.

[libertyandfreedom]

All three of our children are out on their own.  It never hurts for them to struggle and to figure out life.  They have to work hard, be frugal and they don't live the lifestyle we provided until they were 18. They are all doing just fine.

[ScottinVA]

Fascinating how things change between generations.  In my teen years, I couldn't wait to get my driver's license, my first job (though I'd been the yardman for much of my block since age 14), and moving out of the house.  While my parents would've welcomed me back if the situation became dire, they and I all agreed getting out on my own was key to maturity.  Nowadays, many teens don't care if they ever drive a vehicle, shrug at the prospect of employment and show no desire or ability to make their own way in the world.   My son moved out and back to Wisconsin mere days after he graduated high school in 1996, and our daughter found herself back home twice after moving out at 19, but those stints didn't last.