Because they don’t want it to. My 29 year old nephew in law has NEVER had a job and does not want one. He has specifically says he doesn’t see a reason to become a responsible adult, he and his friends just mooch off their parents and each other, and what they can’t mooch they scam, and what they can’t scam they steal.
The unemployment rate doesn’t matter to people who have no intention of ever having a job.
The under-employment rate doesn’t matter to people who have no intention of ever having a job.
The housing prices don’t matter to people who have no intention of ever paying their own bills.
Job longevity doesn’t matter to people who have no intention of ever having a job.
I’m not being dismissive, I have the misfortune of being related to this crowd. They are 100% abject losers who will NEVER participate in the adult world.
At some point these people did an analysis and come to a conclusion that both you and I disagree with. We may wish to dismiss the factors I have mentioned, but ultimately those factors could have influenced the decision resulting in the mindset in question.
This mindset is foreign to the both of us. There have always been some people out there like this. The question is, why are so many choosing this path today?
In our day it would have been personally unacceptable to remain home into the mid or late twenties, most certainly into the 30s.