Posted on 08/19/2013 2:32:48 PM PDT by Nachum
Newark, New Jersey (My9NJ) -
Is 27 the new 18 when it comes to living at your parents' house?
According to the US census Bureau, at least 1 in 4 N.J. adults, ages 18-31 live at home and 42% are 24 or older. Experts call it an "epidemic" of millennials leaching off their parents, but does a bad economy and student loan debt crisis justify the situation?
A new survey from Coldwell Banker says parents in the Northeast region are more lenient on this than anywhere else in the US on children moving back home.
But, according to the survey, more than two in three Americans believe that too many adults living at home with their parents are avoiding responsibility, and 65 percent believe too many young adults who move back home after college are overstaying their welcome.
Dr. Susan Newman, a Jersey-based social psychologist and author of the book “Under One Roof”, she says it’s almost expected for kids in N.J. to move back into their suburban homes after college.
(Excerpt) Read more at my9nj.com ...
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Well, we have a 26 year old still at home and she does pay all her own bills and even a monthly rent fee of $100 to stay with us - she still has to pay off her college debts, her car payment is $220/month and she works full time but doesn’t earn enough to live out on her own at this time. We’re hoping that she’ll stepping stone to a better paying job within the next year, but it is rough out there. We also have a son in his senior year in college and hopefully, he’ll be able to move out in the next year or two upon getting a career job. Then, there’s our parents who may wind up in our home as we are slated to become caregivers...I would say the demographics are definitely rough for our society right now and Obamacare will only makes things MORE UNLIVEABLE!
I don’t think anyone should be critical of situations like yours, although I also think folks in their 20s should be getting a good dose of Dave Ramsey type financial advice, and putting it into practice. There will be no more free rides for the forseeable future and it could be a lot worse.
What galls me (and you too I’ll bet) is considering these young adults to be “children” who turn into deadbeats on every form of entitlement because “they can’t get a job in their field”...
Your kids sound responsible and hard-working, good luck to them.
Great job Christie. Also, you might tell your wife to stop soliciting funds on TV for the hurricane. We all know you never prepared because the politicians stole the money instead of using where it was needed.
“Experts call it an “epidemic” of millennials leaching off their parents”
Sounds like the boomers are doing a fantastic job of running an economy. Great Depression II.
As if a ‘bad economy’ is the end all...Yes, the college debt is bad, but self-inflicted.
How about the crushing weight of gov’t let alone high taxes that allows one to keep enough $$ that they themselves can possibly live from? Or the regs/laws/dept. that crush business that they would rather sit on their $$ instead of hiring (can you say O’Care? I knew you could).
Lay the blame where it belongs. Trenton and D.C.
I often wonder how much is the economy and how much is kids wanting to maintain their lifestyle of going out to bars every other night and driving a nice car.
I’d rather drink PBR and drive a jalopy that live at home ...and that’s what I did.
Until I realized my reclining sofa would never fit in her coffin vault.
Your mom has a coffin? What with the cost of real estate?!
.....
Yeah, We gave her a respectful sendoff in '06.
The vault was part of the funeral arrangement. That's not an above ground vault. Just a buried concrete coffin to hold the casket.
The cemetery sells the plots in perpetuity.
Of course, their health care will be "free"...
We have a lot of McMansions with finished walk out basements. I hope my son does come back after college. We are best friends.
Just getting a head start on making the economy look like Republicans are to blame ahead of 2014.
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