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Nearly half of young adults in the US are living at home with their parents

Stevicus

Veteran Member
Staff member
Premium Member
Young Adults Living at Home in the US Are Fueling a Luxury Boom (businessinsider.com)

  • Nearly half of young adults are living at home in the US — a historical high not seen since the Great Depression, per the US Census Bureau.
  • They are helping fuel a luxury boom, Morgan Stanley analysts say.
  • Living at home is freeing up their budget and leaving them with more disposable income for spending.

A record level of young adults in the US is currently living at home, and all that saved rent is sparking a luxury boom.

Recent data from the US Census Bureau shows that nearly half of young Americans between ages 18 and 29 are living with their parents today. That's a historical high not seen since the Great Depression era, Morgan Stanley analysts wrote in a Friday note.

The analysts estimate that around 48% of young adults are living with parents in 2022, similar to levels seen in the 1940s.

The levels of young adults living at home peaked at 49.5% around 2020, coinciding with the outbreak of the COVID-19 pandemic. The data was compiled from a Pew Research Center analysis, USA Today, the University of Minnesota, and Morgan Stanley research.

But that's great news for luxury retailers, because saving on daily necessities like rent and groceries is freeing up disposable income for discretionary spending, per a team of Morgan Stanley analysts led by Edouard Aubin.

"This is of course not the only reason luxury goods consumers are getting younger in the West (social media playing also an important part) but we see it as fundamentally positive for the industry," the analysts wrote in the note.

Factors like high rental costs, enrollment in higher-education programs, and delayed marriage are also keeping young adults at home, the analysts wrote.

"When asked about the incentives to move in with parents, 51% of the young adults said that it was to save money and 39% of them said that it was because they could not afford rent," according to a December 5 PropertyManagement.com survey. The survey of about 1,200 US participants was conducted online by survey platform Pollfish on December 1.

Similar trends are being observed in Britain as well.

Similar themes are emerging among British youth
Similar themes are emerging across the pond in the United Kingdom, where about 42% of young adults lived with their parents in 2021. That's the highest level on record, based on data compiled from 1996 onwards by the Office for National Statistics and Morgan Stanley research.

I've read about times in the past where it was far more common for kids to remain with their parents - or at least in close proximity, even after they get married and have kids of their own.

It's a lot different than what I remember when my generation was at that age. Most kids couldn't wait to turn 18 so they would finally be free of their parents. Or in other instances, the parents couldn't wait to boot the kid out of the house.
 

exchemist

Veteran Member
Young Adults Living at Home in the US Are Fueling a Luxury Boom (businessinsider.com)







Similar trends are being observed in Britain as well.



I've read about times in the past where it was far more common for kids to remain with their parents - or at least in close proximity, even after they get married and have kids of their own.

It's a lot different than what I remember when my generation was at that age. Most kids couldn't wait to turn 18 so they would finally be free of their parents. Or in other instances, the parents couldn't wait to boot the kid out of the house.
I suspect one reason may be because the current generation of parents is the first not to frown on sex before marriage. Thinking back to the 70s, one strong motivation to get out of the parental house was so I could take girls to bed.
 

Quintessence

Consults with Trees
Staff member
Premium Member
Given the source, I'm not surprised a bizarrely positive spin is being put on this problem, but still. They are basically sugar coating "the next generations are worse off and can't afford to move out" with "so that means what little money they have is now spent enriching us already rich corporate fat cats, huzzah!" The picture isn't much better for the age bracket ten years up either.




 

Vee

Well-Known Member
Premium Member
So, they are living with their parents, I guess because moving out is so expensive, but instead of investing in their education or saving to be able to leave the parents house, they spend money on stuff??? They haven't met my dad!
 

Twilight Hue

Twilight, not bright nor dark, good nor bad.
Young Adults Living at Home in the US Are Fueling a Luxury Boom (businessinsider.com)







Similar trends are being observed in Britain as well.



I've read about times in the past where it was far more common for kids to remain with their parents - or at least in close proximity, even after they get married and have kids of their own.

It's a lot different than what I remember when my generation was at that age. Most kids couldn't wait to turn 18 so they would finally be free of their parents. Or in other instances, the parents couldn't wait to boot the kid out of the house.
Let's hope they are paying rent.
 

Shadow Wolf

Certified People sTabber & Business Owner
It's a lot different than what I remember when my generation was at that age. Most kids couldn't wait to turn 18 so they would finally be free of their parents. Or in other instances, the parents couldn't wait to boot the kid out of the house.
It is weird. Becoming an adult used to be a good thing, coming with all sorts of privileges and perks, but at some point, somehow amd someway it became a verb, not the goal and people quit putting away childish things. I hate that it reminds me of Paul, but it does (1 Corinthians 13:11).
 

SomeRandom

Still learning to be wise
Staff member
Premium Member
It is weird. Becoming an adult used to be a good thing, coming with all sorts of privileges and perks, but at some point, somehow amd someway it became a verb, not the goal and people quit putting away childish things. I hate that it reminds me of Paul, but it does (1 Corinthians 13:11).
It’s interesting for me, being half Indian.
Moving out at 18 is largely seen by my family as a cruel Western practice. “Proof that parents have no love for their kids in the Western world” as my old Nanis would say (which are grandmas, basically.)

Indeed much of my family (here and abroad) still live in households with up to three or more generations, regardless of marriage status. Since moving one’s elderly parents to a home is also very frowned upon in our culture
Not all of them, mind you, we still grew up here after all. But living and dying in one’s parents’ house is still very much a traditional practice for “my kind” lol
 

Shadow Wolf

Certified People sTabber & Business Owner
It’s interesting for me, being half Indian.
Moving out at 18 is largely seen by my family as a cruel Western practice. “Proof that parents have no love for their kids in the Western world” as my old Nanis would say (which are grandmas, basically.)
That's interesting. And thought provoking because my friends and I graduated high school and a few months later were roommates. I can't say they all felt unloved by their parents, we just all wanted out. Freedom for ourselves, independence from others, basically the ideals that drive our isolation from each as we become more individualized and have less community as a result (it is much easier to push individuals around than it is a group of them).
 

SomeRandom

Still learning to be wise
Staff member
Premium Member
That's interesting. And thought provoking because my friends and I graduated high school and a few months later were roommates. I can't say they all felt unloved by their parents, we just all wanted out. Freedom for ourselves, independence from others, basically the ideals that drive our isolation from each as we become more individualized and have less community as a result (it is much easier to push individuals around than it is a group of them).

I suppose it does ultimately come down to cultural ideas of what is community vs individuality and how important each is to the person/community as a whole.

In Indian culture (generally speaking, this will obviously differ for many) personal responsibility is seen as a very important attribute. Getting a job, furthering one’s studies and generally doing things that will benefit one’s community. So in a sense, a great emphasis is placed on community and how one can benefit it as a whole. Even as one tries to make personal achievements in life.
Get a good paying job? Great, your parents could do with a bit of help with the bills!
Got a great academic achievement? Great! Your community could do with some public pride!
Became a self made millionaire? Great, your local charity halls could do with a cash boost!
That mindset is driven into us by well meaning aunties from the time we can walk lol

A little bit of leeway is given to kids just entering adulthood to “mess around” of course.
(Honestly probably moreso in “Western countries” ngl lol)
But one’s pursuits should also be done to benefit not only oneself but their family. Always. The family benefits come first
Helping your parents pay the mortgage, buying some groceries every once in a while, indeed helping them as they enter old age and any medical issues they may face etc

Perhaps some of that does come from having the “immigration” background as it were. Helping your parents in a strange foreign country and “not abandoning” them as soon as you hit 18 like one’s peers. But as I understand it, staying in a multigenerational household is a strong holdover from our cultural background as well. So idk

And I wouldn’t take the “unloved” comment too seriously. Nanis be Nanis lol
Indeed they probably were just flabbergasted at the (to be fair joking) way Australian parents here celebrate their kids’ turning 18 by planning their moving out arrangements beforehand. Often jokingly telling their kids that “as soon as you’re 18, you’re out the door, kid!!”
Which, as you can imagine, was often quite shocking for little old Indian ladies to hear lol
 
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Revoltingest

Pragmatic Libertarian
Premium Member
Young Adults Living at Home in the US Are Fueling a Luxury Boom (businessinsider.com)

Similar trends are being observed in Britain as well.

I've read about times in the past where it was far more common for kids to remain with their parents - or at least in close proximity, even after they get married and have kids of their own.

It's a lot different than what I remember when my generation was at that age. Most kids couldn't wait to turn 18 so they would finally be free of their parents. Or in other instances, the parents couldn't wait to boot the kid out of the house.
This is a good development in several ways.
 

Sgt. Pepper

All you need is love.
Three of my five young adult children (ages 26, 22, and 20) still live at home with me. My oldest daughter (age 26, who will be 27 years old tomorrow) moved back home over a year ago when she wanted to save money to earn her teaching degree. She has moved back in before when her finances were slacking because her hours were cut, and then she moved out when she was financially stable.

And when the COVID-19 pandemic first started, my young adult children moved back home for a while because they felt safer at home, so I had all seven of my children living under the same roof again. We just readjusted when they moved back in with a lot of their personal stuff and their pets. My husband and I have always told our children that they can come back home anytime, for as long as they need or want to. The door is always open. My children know that they can always come home and stay if they need to.
 
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PoetPhilosopher

Veteran Member
This is a good development in several ways.

@Revoltingest really needs to stop saying things I agree with.

I don't know what he's doing exactly, but I'm just saying:


images.jpg
 

Ella S.

Well-Known Member
It's a lot different than what I remember when my generation was at that age. Most kids couldn't wait to turn 18 so they would finally be free of their parents. Or in other instances, the parents couldn't wait to boot the kid out of the house.

I'm in the age range of the generation targeted by these statistics and, I can promise you, most of the people my age living at home never wanted to. We grew up with the idea that, to be truly mature and independent, we are expected to move out at 18.

However, this is simply not financially feasible for a great portion of us. This leads to serious shame about still living with your parents in the better scenarios, but actively being trapped with abusive and/or bigoted parents in the worst scenarios.

The latter of which is especially horrifying for those who thought that they could one day live out on their own and be free of their family.

I know many people directly affected by this issue and it is severely impacting their lives for the worse.
 

Ella S.

Well-Known Member
- Fewer housing units need to be constructed because existing ones are shared.
- Less energy usage.
- It shows that kids & parents are getting along well.
- Less traveling to visit family.

Yeah, because who cares about liberty when reducing individual power benefits the rich?
 

Shadow Wolf

Certified People sTabber & Business Owner
Yeah, because who cares about liberty when reducing individual power benefits the rich?
3 of those 4 are a good thing for the environment though. Less housing, less energy consumption, less travel, the Earth can breathe a little easier, resources will last that much longer, and it actually means less money for some, and they aren't reaping nearly as much money ad they would be if there were more houses and energy bills and gas consumption.
The other one, we do desperately need people to be more connected. Our society clearly isn't healthy overall, and our living apart as we do just isn't how we've ever done it.
 

Wandering Monk

Well-Known Member
I'm in the age range of the generation targeted by these statistics and, I can promise you, most of the people my age living at home never wanted to. We grew up with the idea that, to be truly mature and independent, we are expected to move out at 18.

However, this is simply not financially feasible for a great portion of us. This leads to serious shame about still living with your parents in the better scenarios, but actively being trapped with abusive and/or bigoted parents in the worst scenarios.

The latter of which is especially horrifying for those who thought that they could one day live out on their own and be free of their family.

I know many people directly affected by this issue and it is severely impacting their lives for the worse.

Don't let anyone shame you. Multigenerational households have a long tradition in the US.

Blame the city planners, banks, and real estate developers who keep the supply of apartment and homes low so they can boost the prices to keep the riff raff out and increase their net worths.
 
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