It's been discussed to death, but in case you hadn't heard it elsewhere, young adults are still living with their parents well into young adulthood. This tragic phenomenon has been called the "Great Delay" by some.
As the New Republic points out, it isn't because young people are shiftless, lazy, and refuse to leave the nest, it's because they're simply not financially able to strike out on their own:
Based on this data, the phenomenon of young adults bunking with Mom and Dad does not solely spring from increased educational enrollment. It’s more likely that they simply don’t have enough money. In a follow-up post, Derek Thompson actually acknowledges this, pointing out that young people have grown poorer in the last decade, with lower median incomes, higher unemployment, and more student debt. This leads to lower household formation, with millennial heads of household at lower levels in 2013 even than in the lowest point of the Great Recession in 2009, and homeownership for Americans under 35 at the smallest percentage on record.
The saving grace for this generation is that experts believe the job market will eventually recover, allowing to young folks to finally be employed or adequately employed in relation to their education, move out of their parents' basements, and start acquiring assets.
[via New Republic]
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