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21st Century Households
Why Millennials Are Still Living with Their Parents
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  • Nevis07

    I’ll just throw #5 out there: The actual unemployment rate is actually higher than what the government reports and what the study uses as a data source. We all know that the government messes around with labor numbers and that if you account for the the number of people who have simply given up looking for work that the real unemployment rate is much higher. If the study didn’t take this into account then it’s like comparing apples and oranges (new living environments compared to old).

    • Kevin

      The unemployment rate doesn’t mean what it used to. The labor particpition rate is in the trash and all those people who dropped out of the workforce aren’t counted. Rising costs for low skill workers and competition from unskilled immigrants are particularly depressing employment prospects for young workers without skills or work history. Increases in minimum wage, and even more the cost of healthcare being passed to employers is restricting demand for these workers and preventing them from getting started on the bottom rungs of developing their work history.

      That said social changes seem to be driving some of it too.

      • Nevis07

        True, and I especially agree with your comments on apartment costs. Rents have been going up and continue to go up fast, which IMHO is strange given that interest rates have been at zero for so long. Being in real estate, I’d say that one would expect a developer should be able to put up a multifamily building with a less onerous mortgage and then still be able to charge less for rent. When real estate dropped through the floor, the Fed should have let prices fall more, even if they felt they needed to save the banks, they should have let prices stabilize much lower. I remember during the crisis thinking that owning a house might actually finally be within my reach someday, instead the Fed decided to pump up another asset bubble and now it’s back into artificially inflated territory and mine and many other’s price range. Too much government intervention, starting with Fannie and Freddy…

        In general, I also think that the real inflation rate is much higher than government reporting. And the cost of living is just more expensive too. Today, you really do need a phone with a data plan, a good internet connection, which means you pretty much have to get some sort of cable connection (of which there is a very noncompetitive market) and then add in the fact that utility rates have gone up over the last decade and a half and all of these devices need to be powered and suddenly your basic living costs are already a bigger chunk of your income.

  • Boritz

    Just as liberals found the jewell of abortion rights embedded in the constitution, conservatives will suspect laziness, immaturity and failure are lurking between the lines of these learned and complex considerations.

    • GS

      These are not “lurking” behind/between the lines, but are up front, in the plain sight for all to see – for all those with the eyes to see, I mean. The voluntarily blind are excluded.

  • LarryD

    What economic recovery? Job growth hasn’t been enough to keep up with the population, and most of the growth in jobs has been going to immigrants. And the group hit hardest by this are the 18 to 34 year olds. Reasoning from a false premise.

    • Andrew Allison

      The huge shift from full-time to part time employment is “an improved labor market”??

    • physicsnut

      not to mention that a house around here costs 400 grand – up from 35 grand or so – and not to mention the taxes are 6 grand.
      The price of housing needs to go DOWN.
      and immigration needs to go DOWN.

  • blackdog

    Progressive policy. Leading us all irrevocably back in time. Thank you, progressives, for the windmills, the trams, the fooking horse as work animal, you shits.

  • rambler

    What jobs? How can anyone afford to move out when there are no jobs or the jobs available won’t cover expenses? Those who have never had jobs won’t be counted or reported by this gov run by the economic morons. It’s all about what they can get things to appear to be and not what anything is in reality. Just wait until the consequences of all this start being dirt obvious. Low employment will not fund the treasury, social security or any other big gov socialist programs. This gov is bankrupting everything including itself.

  • Jack

    The increase in house size may also contribute to this change. Housing in 1960 was around 1200 square feet per house while in 2009 median was 1800. More room may mean more percieved freedom for the boomerang generation.

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