Posted on 04/02/2017 7:34:18 AM PDT by george76
Los Angeles rents are some of the worst in the nation, and don't even think about buying a home here. Resourceful millennials have found one solution, though: living at home with mom and dad.
A new analysis of U.S. Census Bureau data for America's largest cities found that 41.5 percent of Greater Los Angeles millennials either still live at home or have moved back in. In the Inland Empire, that figure was 44.5 percent, according to the "Not-So-Empty Nests" report by apartment listing site Abodo.
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Greater L.A., including Orange County, ranked fourth for U.S. metro areas with the largest percentage of people born between 1982 and 2003 who live at home, according to the analysis. L.A. was topped only by Miami (first), the Inland Empire (second) and New York (third). "
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the price of going it alone is so high in the market that millennials would have to spend about 97 percent of their median monthly income ($1,975) just to get into a median-priced, one-bedroom unit in L.A., the site found. Only Washington, D.C., had a higher demand on millennial income (110 percent) for one-bedroom renters
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Many millennials are not only earning less than their parents did as younger adults, but the majority of millennials who pursue college degrees are eventually saddled with an average student loan debt hovering around $30,000
(Excerpt) Read more at laweekly.com ...
Keep voting democrat!
Reality is a bitter pill to swallow.
I used to like in Omaha, NE. It was okay, but not hard to understand why a younger person would choose to live in CA instead. Or FL, or Seattle, etc.
When I was 22, I really wanted to live in So Cal. Unfortunately, the Air Force had other ideas.
When I was in my early 20s, I moved to LA. Got an apartment for $85 a month in a nice neighborhood. All my friends had apartments, cars, and entry-level jobs. We didn’t live like queens, but we could afford decent one-bedroom apartments in nice neighborhoods, reliable cars, and still have some spending money. It was easy. Now those same neighborhoods are barrios, but the rents are at least $1,600 a month for a one-bedroom. I know people in their 30s and even 40s who still live with their parents. The only way a kid can move out is to have several roommates. It’s ridiculous.
We sure threw away a great country.
I say kick em out of their families and let an illegal take their spot.
I am sick of these brats using their parents’ monies to subsidize their speech trashing traditional US family. What hypocrisy
Amazing with illegal immigration removed it might be inhabitable and affordable again.
My millennials are living at home with me and I am glad they are. They help me and I help them. They have their own spaces they don’t need to pay for, and I have their help. All over the world, young people live at home. We have three generations under this roof. I feel that is how it should be. All their friends do the same thing. Half their income would go to rent (and one is a full time student) and I would have an empty wing of this house. They will be gone soon enough.
LA a slum lord city stuffed with illegals, high taxes and government paid housing... hence the price rises
Minimum wage increase instead of deiving costs down makes it worse, heck, that is the goal to raise further taxes on “trillionaires” who keep inflation going
Yeh so many of these younger idealists vote for the leaders and system that keeps them struggling more than necessary. The rents are ridiculous and the landlords are making a killing mostly. Having roommates reduces rent but adds other often unwanted scenarios and drama.
To each their own I guess. I can’t think of anything worse than having my kids at home as adults. I was out at 17. Forced me to grow up REAL quick. I know way to many friends who were coddled by mommy and daddy well into their 30’s and they are friggin pathetic today. It’s embarrassing......
Of course, if mommy and daddy let them spend a few hundred thousand to study stuff like "gender studies", don't worry about it. It serves them right, hang around until they die.
If a person had their grown kids living with them...how would you keep them from seeing how ashamed you are of them?
My niece is 26 and still lives with my sister. She is brainy smart but for getting out on her own she lacks the experience and skills. I’m kinda concerned for her transition as my sister has overly sheltered her too.
This report is just a precursor to the reports that will claim Donald Trump has caused all of this misery.
About 7 years ago, I found myself single and living in a large home. Then my daughter, hubby and grand kids moved in. I helped put my SIL thru college by not charging rent. Now he is knocking down $75K/year and I’m charging him $1K/month.
The house is still big enough for everybody and surprise, surprise, we all get along, which is generally not the case.
The issue is that they still cannot find jobs. I am sure many of them would gleefully move to another state if they could could get a job that would pay the bills.
I am not a defending of most snowflakes, but I see how tough it is for my own kids—both of whom graduated from college, both of whom work at least two jobs. And both of whom have way less than $30k in college debt.
Their dumb friends are hurting. The few that are doing well are doing it in jobs that are not traditional.
It is an interesting scenario.
Before doing what?
Regards,
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