Posted on 07/30/2015 10:51:33 AM PDT by BenLurkin
Even though there's about 3 million more Americans in the 18-34-age bracket today than there was in pre-recession 2007, there are fewer millennials living independently in 2015. About 42.2 million young adults ran their own households in 2015, down from 42.7 million in 2007.
"This may have important consequences for the nation's housing market recovery, as the growing young adult population has not fueled demand for housing units and the furnishings, telecom and cable installations and other ancillary purchases that accompany newly formed households," the report notes.
(Excerpt) Read more at nola.com ...
This happens in all socialist countries.
You sound like a great parent. Do your kids live alone, or do they have roommates? Around where I am (LA) the rents are so outrageous, young people can’t afford to move out unless they get at least one roommate.
Why is this clown treating the height of the recession as history? The malaise of "The Recession" is reaching greater heights and depths every day!
I feel I must defend my millenial, who, btw, is at home wiht us at the moment.
My daughter worked her tail off in HS to get college credits by taking honors classes. In college, she took the max of credits that she could in order to graduate early. She also worked as an RA, which helped with the college costs. She graduated in December, a semester sooner than her classmates.
I thought that since she graduated early she would get a jump on others of her age at a job opportunity. Well, the economy went ker-fluey, and this young woman could not find a job. She sent out over 400 resumes, got no response. After some months of searching, she decided to get a certificate that would allow her to teach English abroad, and she has been in Japan for the past 4 years, teaching English there.
She was on her way to Singapore to teach English; but, she became ill (enough so for hospitilazation) and her visa expired. Japan would not allow her to go to Singapore on an expired visa, even when she showed them proof that she was in the hospital and that is what prevented her from getting her visa renewed. They finally told her she could go home to her country of origin.
She is now home with us and looking into her options. My daughter wants to work. She doesn't want to live with mommy and daddy, she wants to work. My eldest daughter, another millenial, has worked steadily since getting her masters degree.
Not all of that generation fit into your generality. And, it is a hard job market out there right now. Hopefully, when BHO leaves and an adult with some understanding of economics will help to get our economy growing again, and new jobs being produced.
Also, my youngest daughter (the one who worked in Japan) is more of a Libertarian -- definitely not a socialist.
Not sure how they’re compiling their information, we have a building boom going on by me. New townhomes, condo’s and single family homes going up almost as fast as they did in 2006.....(at least here.)
A degree in liberal arts that prepared them for nothing in the real world and left them tens of thousands in debt?
Playing video games 24/7 didn’t prepare them for a job.
Because a depression tends to make things worse and if you run the actual numbers you have more than 25% of the work force out of work and it has been that way for several years. Small businesses are closing at an alarming rate and lots of large franchises are closing too. No jobs, no money to pay rent or buy a place.
Like me, you must have a job from the “before-times”; there is little opportunity for young people (outside of a small number of fields), and once families are off the table there is little reason to move out. Eventually they become the parents’ caretakers anyway.
I’ve been married almost twenty years, and understand why young people today are hesitant to do so; I live in a dying region (northern NJ - the NYC metro area), and this “Greater Depression” hasn’t even bottomed out yet. There is no recovery here at all, just more job losses and foreclosures; the population is being reduced to teachers, cops, welfare recipients, and illegals (retirees can’t afford the taxes). Young people are streaming out of this state; they don’t lack ambition, just opportunity.
I was referring to the default process for local, state and federal governments.
Because they are slackers “enjoying” the current depression and “enjoying” their parent-supplied good life.
Because a dentist shot a lion and republicans are mean.
One reason is that a higher percentage of jobs are going to retirees. I don’t remember the break down, but I do remember that people who’re technically retired are now more likely to be working than they used to be. Some of them keep working at the same place but cut back their hours; others retire from one company and take a lower-stress job somewhere else.
Most employers would rather have someone with years of work experience than a kid just out of college. And keeping a former full-time employee on for a couple of days a week, while hiring a just-out-of-college kid for the other three means that neither one of them has enough hours that the company’s on the hook for insurance. If insurance costs have gone up since Obamacare, that’s another bonus to keeping someone on part time.
Good for the company, good for former full timers. Not so good for the kids just out of college.
Similar story from the rural area I work in. There is no opportunity. The furniture plants went overseas, and nothing came to replace them. The largest employers are the county government and the school system. Young people with any ambition leave.
Precisely so.
Here in NJ the costs of those government employees prevent any sane young people from buying homes here (or opening businesses). Many financial jobs left, the manufacturing jobs left decades ago, so everyone wants to get on the government workfare rolls or flee...
Here in NJ people often can’t retire when they reach the age because their property taxes are so high; they want to sell the homes, but nobody wants them (due to the high taxes). Employers love retirement-age employees because they usually speak English, show up for work on time, and don’t spend the day texting and watching YouTube clips...
Liberalism is always about punishing the prudent and responsible.
Great job and we need more like them. Where do you live?
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