Boomerang Babies: Record Numbers of Young Adults Live with Parents at Terrible Cost

[xchrom]

http://www.alternet.org/economy/boomerang-babies-record-numbers-young-adults-live-parents-terrible-cost



America’s young people have been hit so hard by the crappy economy that they can’t even get out the door. A fresh study from Pew Research reveals that 36 percent of Millennials —young adults ages 18 to 31 — are still living under their parents' roofs (this includes college students who come home for breaks). Not since the 1960s have so many young people resorted to couch surfing with mom and dad, a record 21.6 million young adults last year.

This is a gigantic sign that something is going horribly wrong in our economy—something that will cost everybody.

The Wages of Recession

The U.S. has seen a significant uptick of young people unable to afford to move out on their own since the start of the Great Recession in 2007, when just 32 percent lived with their parents. And if you look beyond college years to the 23-28 range, the number living with parents has risen by more than 25 percent bewteen 2007 and 2011, according to the Census Bureau. Clearly, the ongoing jobs crisis is a major cause: 63 percent of Millennials had jobs in 2012, down from 70 percent in 2007. Young people continue to face a jobs crisis even as the economy improves, as Catherine Ruetschlin and Tamara Draut of the public policy think tank Demos have found. They are facing a deficit of 4 million jobs, with African Americans and Hispanics worst hit.

Interestingly, according to the Pew poll, it’s the young men who are having the hardest time moving out. Forty percent of young men are currently living at home, compared to just 32 percent of young women. Men suffered the biggest job losses in the financial crisis, but they also gained the most post-recession jobs. There may be cultural factors operating in the fact that more young men stay home, including less expectations that they will contribute to chores or face close supervision.

[TheMastersNemesis]

1. Just Keep Voting Republican. Keeping Any Of Those GOP Maggots In Power Is A Disaster.

[ladjf]

13. Yes. Simple as that. nt

[B Calm]

2. This is the outcome when you destroy labor unions.

[Inkfreak]

3. Frightening numbers there.

I wonder what kind of effect this is having in those parents too. Retirement plan put off. Extra stress with having a twenty something adult living with them still cannot be good. And what do the next gen of soon to be college kids think? Fuck school, I don't wanna spend the $ just to move back home.

[marmar]

4. k/r

[Divernan]

5. Obama's vaunted job creation mostly low-wage, dead-end jobs. Want fries w/that?

Last edited Tue Aug 6, 2013, 11:35 AM - Edit history (1)

"Men suffered the biggest job losses in the financial crisis, but they also gained the most post-recession jobs." In other words, "post-recession jobs" translate into low-wage, no benefits (health insurance, sick time, etc.) often part-time and always dead end jobs. Hard to live on your own, let alone pay off any college loans while working at a fast food job or in an Amazon warehouse.
(On edit, to clarify: The following are MY comments: )

Well, in every world, we have winners and losers. Even today, all is not lost, all you naysayers. We have the shining example of one young American who boldly quit her hedge fund job to pick up an Ivy League master's degree (no student loans for HER) AND buy a $10.5 million pad in Manhattan. Hey! 6 bathrooms for 2 30-something adults - and a 250 foot hallway. As someone commented, it's a longer walk from her living room to her kitchen, then many Manhattanites have to get to their corner store. Sometimes people ask, re the transfer of wealth upward to the 1 percent, where does the money go? Well, here's where $10.5 million of hedge fund profiteering and board of directors' pay went.

(On edit, The Newsmax link was to get you to the basic story. Newsmax gave a straightforward news report and did not say anything negative about Chelsea Clinton.
http://www.newsmax.com/US/chelsea-clinton-luxury-apartment/2013/03/14/id/494723

Headline: Chelsea Clinton Buys $10.5 Million NYC Apartment

Chelsea Clinton and her husband have shelled out a cool $10.5 million for a luxurious Manhattan apartment that is ten times the size of most New York City residences. The former First Daughter and Marc Mezvinsky sealed the deal for the stunning four-bedroom, six-bathroom condo overlooking Madison Square Park in the city’s Flatiron District.

Their new digs — in the prestigious five story Whitman building — measure 5,000 square feet, take up an entire floor and are accessible by an elevator that operates with a private key.

By comparison, most standard Manhattan one-bedrooms are about 500 square feet or less.

The deal for the 5,000-square-foot apartment, located at 21 E. 26th St, closed last month, sources told The New York Post. “It’s great for them, because it is in a hot neighborhood and it is very private,” a source told the Post.

___________________________________________________________________________________
A recent DU thread: "Under Obama, we're off to our best Private-Sector Job Growth since 1999 - Inform the republicans and some on this site." http://www.democraticunderground.com/10023406668

Well, backatcha, cheerleaders. Low-wage, no benefits, dead-end jobs do not give you bragging rights.

[BlueJazz]

7. Even the term "Job" has lot it's meaning. "Job" used to mean: Able to get out of regular debt,...

....Able to supply shelter for, at least, one's self.
Able to clothe yourself.
Able to have transportation
Able to eat a balanced diet
Able to even "think" about finding a partner for life
Able to actually Go to a movie !!
Able to save a little for the future or for sickness.


NOW...."Job" probably means: Not having to sleep in the gutter with rats.

[Quantess]

52. Sometimes for college grads, "job" means an unpaid opportunity to gain experience.

See how well you can live off that, unless you are already well off.

[n2doc]

8. ...

[sufrommich]

14. Newsmax allowed as a source on DU.

I served on the jury for this,can't believe people allowed this to stand. One of many "new lows" for DU.This place is getting crazy.

[mopinko]

15. ++++++++

[Divernan]

17. 100s of sources reporting same story - are there any facts you contest?

I'm not familiar with Newsmax - just googled it and learned it's conservative. If you click on the link to the Newsmax report, there is nothing objectionable in it. But, OK. How about the Seattle Times or Wonkette? Radar on line? and on and on for 10 pages of google hits. I think this story is newsworthy for many reasons, the first of which is what it says about the re-distribution of wealth and the fact that we are becoming a nation of renters, except for those who inherit wealth and/or are given high paying jobs (Chelsea was in hedge funds; her husband with Goldman-Sachs) because of their parents' social connections or political status).

http://seattletimes.com/html/homesrealestate/2020595934_hrechelseaclintonxml.html
"Chelsea Clinton buys N.Y.C. condo listed for $10.5 million."

http://www.nydailynews.com/life-style/real-estate/chelsea-clinton-buys-10-5-million-article-1.1288710
"Chelsea Clinton to buy $10.5 million apartment on Madison Square Park (PHOTOS)

http://radaronline.com/exclusives/2013/03/cha-ching-chelsea-clinton-buys-luxurious-10-5m-apartment-in-nyc-take-a-peek-inside/
"Cha-Ching Chelsea! Clinton Buys Luxurious $10.5M Apartment in NYC: Take a Peek Inside"

http://wonkette.com/506738/class-war-has-a-fresh-new-face-chelsea-clinton-and-her-10-5-million-nyc-pad
"Class War Has a Fresh New Face: Chelsea Clinton and her $10.5 Million NYC Pad"

http://www.examiner.com/article/chelsea-clinton-s-apartment-she-can-afford-10-5-million
Chelsea Clinton's apartment: She can afford $10.5 million

Chelsea Clinton has an apartment she purchased for $10.5 million, reports Radar Online, March 14. The 33-year-old daughter of Bill and Hillary Clinton, and her husband Marc Mezvinsky's new-Georgian style apartment, built in 1924, is 5,000 sq. ft., with "four bedrooms, six and a half bathrooms, a home office and den." It was purchased across the street from where Mezvinsky's $4 million flat is located.


A graduate of Oxford University, and Columbia University, Chelsea was hired as a special correspondent for NBC. "She has done a bunch of warm and fuzzy stories that haven’t gotten any kind of critical appreciation but she does have that Clinton name," said senior television editor April Bernard. "Critics say she doesn’t dig deeply enough as a reporter. She is amateurish and green. She also isn’t charismatic on camera which is surprising because her dad is so appealing. It is just hard to watch her and know she is there because of who she is." Although her reviews were not stellar, Chelsea's contract was renewed in 2012.

Did you know Chelsea Clinton's apartment was so expensive and that she could afford it?

[JRLeft]

20. Don't forget Amazon.

[Eleanors38]

30. Owner of Amazon just bought WaPo for .25 bill. (BBC).

[Enthusiast]

38. Newsmax always has an ulterior motive.

Straightforward news report from Newsmax? I don't think so.

[TheMastersNemesis]

51. Bullshit Bullshit Bullshsit - American Business And The GOP Are Responsible For Low Wage

jobs. Offshoring and outsourcing was a GOP fostered agenda since Reagan. Clinton was just dumb enough to help pass NAFTA.

[pnwmom]

57. Don't blame Obama for the fact that the Rethugs have blocked every important

jobs or stimulus bill since the first one, which they greatly scaled back.

[SummerSnow]

6. My daughter is 20 years old. she is in college and working...

She lives in our house and she talked about moving out . I asked her did she know how much the rents are here in NYC she really had no idea. I told her to look it up online. She saw how expensive a 1 bedroom market rent was .It is about $1300 a month or a little less. I told her were giving you a whole floor for $500 a month no utilities. 1 bedroom ,livingroom, bathroom kitchen and dining area use of backyard parents downstairs .She said I'm staying home.lol

[Skittles]

34. I tell boomers, do not try to compare your experience with what young folk are experiencing now

it's a whole different world and it is stacked against these kids in SO many ways

[The2ndWheel]

9. Another recent phenomenon

How long has it been that once you hit 18, you're out of the house? It's a situation that hasn't stood the test of time yet. It's really only with cheap energy that it's been possible on any sort of large scale.

[magical thyme]

11. it's true that it's a recent phenomenon. Back to the Waltons would be fine except that

the jobs numbers are what hurts. We no longer have a nation of self-employed, small businesses and we don't have any clear road back to that scenario. In the meantime, 63% of young people employed means 37% unemployed. That is not good.

[magical thyme]

10. Hey, let's raise the retirement age again, and cut those Social Security benefits

That oughta do it!

[jwirr]

12. While not being able to leave the parental nest probably is a bad thing there is a plus. I am living

with my grandson, his wife and 3 children to help them with the finances. This brings us back to multi-family households such as we had when I was younger. I act as their baby sitter and help to clean the house and do laundry. It is not a bad situation for them. For me that is another story.

[mopinko]

16. who decided multigenerational living was always bad?

i mean, wtf is it with this country. people all over the world live this way. most of the damage done on this comes from expectations that were never very sound to begin with. like the expectation that the 50's would last forever.

it's always bad to feel like you don't have options. but it is stupid to hate the options you have.

[lunamagica]

23. My uncles were raised in Honduras and lived at home until

they were married (and they didn't marry that young either). They could afford to move out, it just wasn't done.

Neither one ever had a problem raising and providing for their own families. What I mean is that staying home until marriage didn't affect in any way their ability to make a life for themselves.

As for my grandparents, I'm sure they would have loved to live in a "Dallas" (the TV show) type of huge ranch, where all their children, spouses and grandchildren lived under one big roof

[RedCappedBandit]

27. I've had this conversation with my friends before.

It seems to me that, should things continue going the way they have been recently, people should just drop the notion that moving out at 18, buying a house, starting a family, etc, is realistic or ideal.

I live with the rents for now. Most of my friends are in the same situation. We all have jobs, but it makes no sense to squander all of our money on rent when we could be saving some of it.

Live at home, have a decent quality of life. Move out, have absolutely nothing left after your bills are paid. Simple choice, IMO.

[mopinko]

33. greener, too.

just the new reality. cultural change. big deal.

[Gravitycollapse]

39. A lot of us move out or want to move out because we cannot stand our families.

Which I suspect is more of an Americanism than anything else. Our relationship structures are different. Our shifting political interests put us at odds with family members who are hostile to our education and intelligence. Although many of us simply have fucked up families with truly disfiguring disfunction.

I love my family. After I move out this weekend, I will never again live with them.

[mopinko]

47. it's not for everyone, for sure.

great way to raise little ones, tho.

[Safetykitten]

18. Are there no Amazons, are there no Costcos?

[Divernan]

19. I'm from a generation still well-educated enough to catch the allusion to Dickens

Given the slashes to public education, and the crushing burden of student loans, I don't think many in the next generation would have the least clue as to what you refer. I'd love to read what Dickens would have to say about our profiteering, privatized prisons. Anyway,here's a little Christmas in August from Charles Dickens' A Christmas Carol:

First Collector: At this festive time of year, Mr. Scrooge, it is more than usually desirable that we should make some slight provision for the poor and destitute.

Ebenezer: Are there no prisons?

First Collector: Plenty of prisons.

Ebenezer: And the union workhouses - are they still in operation?

First Collector: They are. I wish I could say they were not.

Ebenezer: Oh, from what you said at first I was afraid that something had happened to stop them in their useful course. I'm very glad to hear it.

First Collector: I don't think you quite understand us, sir. A few of us are endeavoring to buy the poor some meat and drink, and means of warmth.

Ebenezer: Why?

First Collector: Because it is at Christmastime that want is most keenly felt, and abundance rejoices. Now what can I put you down for?

Ebenezer: Huh! Nothing!

Second Collector: You wish to be anonymous?

Ebenezer: [firmly, but calmly] I wish to be left alone. Since you ask me what I wish sir, that is my answer. I help to support the establishments I have named; those who are badly off must go there.

First Collector: Many can't go there.

Second Collector: And some would rather die.

[JRLeft]

21. Amazon has thousand of low wage jobs.

[white_wolf]

22. I've considered moving out during college, but...

me and my parents discussed and once we did the math I simply couldn't afford it. Even with a full time job I couldn't afford rent, utilities, food,gas, and insurance. I don't even live in that expensive of an area, but it seems like the cost of everything has skyrocketed in the past decade. Not to mention working a full-time job and going to school full-time would be extremely difficult, not impossible I'm sure, but very hard. Right now, it seems like the smarter choice was to stay at home. It wasn't what I wanted, but I felt it was better to focus as much as I could on school so once I did move out I'd be able to support myself and possibly help my parents with their own finances if they need it.

[Sotf]

24. What a waste...

Childhood extended further and further out...

[RedCappedBandit]

25. Lower than I would have guessed, tbh.

I know VERY few people in my age group who can afford to live on their own without, frankly, impoverishing themselves.

[Skittles]

35. alas. the same is becoming true for many seasoned adults

[HappyMe]

56. That's very true.

Parents that are already struggling having a kid move back home I'm sure stretches the budget to the breaking point.

[Rex]

26. AS long as D.C. bows to Big Biz and does whatever they want.

We shall see this society fall back into survival mode.

[Recursion]

28. My friends from Afghanistan could never wrap their head around the idea that I lived alone

"You don't live with your family? But you're not married yet? Does your family hate you or something?" etc.

They also didn't get "homelessness" in the American sense when I tried to explain it to them, despite the fact that they were refugees: "what do you mean they're in a functioning city with family members in it and don't have a place to sleep and eat?" It made no sense to them.

[Skittles]

36. yes, it's such a utopia there

WTF

[Enthusiast]

40. Yes, we should embrace extended family living!

It will boost our family values like they have in Afghanistan!

[Skittles]

42. I bet a lot of Afghani women wished they lived alone

yup

[Recursion]

44. What a stupid thing to say

Try visiting some time and see if you still think it's a utopia

[Sheldon Cooper]

45. Wow, that went right over your head.

[Recursion]

46. No

But my post seems to have completely gone over Skittle's if she thinks the gist was "Afghanistan is nice"

[Sheldon Cooper]

48. You obviously don't know Skittles, who is a woman by the way.

Her post was pure sarcasm, and you missed it.

[Recursion]

49. Edited, thanks

I do remember Skittles is a woman but for some reason thought that was Bonobo. Anyways, my only point other than the anecdote itself was that living away from your family isn't considered a failure in a large part of the world.

[Skittles]

58. with that one it always does

[madrchsod]

54. i grew up with my grandmother living in our home

my grandfather died in the 30`s so my mom and grandmother moved to where we live now. my other grandmother lived next door and moved in when she could`t live on her own. i wouldn't think of turning away a family member who needed shelter. i guess i was just raised that way.

there are many cultures across the world that it is the norm for people to live with their family past the age that others would deem too old.

[SoCalDem]

29. DEBT is the soul-crusher here

College debt
Car debt
"Shopping" debt

Life just costs a LOT more now for too many people.

I moved out on my own, with a Vickers gas credit card(limit $200)
$14 in my wallet
a half-assed 1962 Dodge Seneca
my cat
my clothes
a black & white portable tv

moved several hundred miles away.. I was 19, and "thought" I had a job lined up.. I was wrong..

but I was lucky and flexible & found a place to stay.. I shared a 3 room walk-up for a whopping $40 a month (my share)..

We had a 2-burner stove.. she got the bedroom & I slept in the living room..

Found a crappy job (Hallmark card Co), and managed just fine. but I had NO DEBT..

Modern-day "kids" cannot be so bold. Many are smothered in debt before they even get to adulthood.

There were very few "New Rules" for our boys as they grew up, but right at the top were:

DO NOT FINANCE A CAR
DO NOT GET A GIRL PREGNANT
SAVE......DON'T SPEND
ALWAYS HAVE A JOB (even a shitty job)

[tabbycat31]

31. problem with having a shitty job

Is that if you apply for a 'professional' job the question that is always asked is 'why don't you stick to retail' and the HR people look at you like you are a fish out of water and don't consider you over the other applicant, who's college experience was Tappa Kegga and did not work. (That has happened to me several times).


The big problem is that young people don't vote in large enough numbers for the politicians to pay attention to them. You always hear a politician (of both parties) talking about protecting seniors (who vote in much larger numbers), but very rarely do you hear them talk about helping young people.

[MisterP]

32. kepp your head down or you'll be blacklisted,

don't go Green or you'll be pulled aside at the airport
and your parents will hide all their finances from you, leaving you with no idea how to budget

[Enthusiast]

41. What is wrong with a 1962 Dodge Seneca?

Let me guess. 361 two barrel V-8, push button automatic.

[SoCalDem]

59. It was uggggggly..but it got me where I needed to go

[Enthusiast]

37. This is why we must enact the TPP.

Then all these young people can get jobs in manufacturing.

[marions ghost]

43. This is a very negative indicator

--families are really under pressure now. Even if the twenty-somethings DO live in their own space, very often the parents are sending emergency money to subsidize that. Literally doing without themselves. Meanwhile the parents are facing issues with their own parents, looking after them in various ways, as well as the kids.

Of course the parents have to help the younguns as best they can, but it does come at a price.

Meanwhile the corporates line their pockets. They can't even relate to these problems.

[WinkyDink]

50. I have THE WORST example three doors up from me. Son races VERY LOUD street-cars, and drives up and

down the block at all hours.

[madrchsod]

53. it`s been that way in my family for years

my family lived with my parents several times since the 80`s. then our kids lived with us on and off through out the years. today my 28 yr old daughter and granddaughter are living with us. she has a decent job but does`t make enough to live on her own.

[SheilaT]

55. What strikes me as one of the problems

of the kids living at home is that they never seem willing to move into a place with a roommate. Nope. Gotta live alone, all by myself.

When I was young it was unusual for a young person just away from home to live alone. We all had roommates. Four people sharing a two bedroom space was extremely common. Maybe if kids today would go back to those living arrangements they'd discover it really is possible to move out.

And having a job, even a crappy fast-food job, should be the bottom line always. If you graduated from college with a degree in art history, or anthropology, or 17th Century French poetry, somehow I'm not surprised you can't find a job in your field. Because there just aren't that many jobs in those fields. The community colleges have lots of certificate programs that lead directly to decent jobs. Look into it.

[LongTomH]

60. Another aspect of this is the effect on careers!

This is from one of my journal posts back in the ancient days of 2010:

First a quote from the New York Times article:

Where you start out in your career has a big impact on where you end up. When jobs are scarce, more college grads start out in lower-level jobs with lower starting salaries. Academic research suggests that for many of these graduates, that correlates to overall lower levels of career attainment and lower lifetime earnings.

Which means that:

"This is how an economy shrinks, or it's at least one way an economy shrinks, and permanently at that."

All this was from 2010; but, it seems downright prescient now; we haven't climbed out of the hole that George Bush dug for us. Sadly, our young people probably never will!

More quotes -- this time from an Atlantic article: How a New Jobless Era Will Transform America:

If it persists much longer, this era of high joblessness will likely change the life course and character of a generation of young adults—and quite possibly those of the children behind them as well. It will leave an indelible imprint on many blue-collar white men—and on white culture. It could change the nature of modern marriage, and also cripple marriage as an institution in many communities. It may already be plunging many inner cities into a kind of despair and dysfunction not seen for decades. Ultimately, it is likely to warp our politics, our culture, and the character of our society for years.

...........//snip

The effects are going to passed down from one generation to another, if nothing is done. There is much talk about our children "inheriting" the federal deficit. But if our children inherit the jobs deficit and its consequences, they will have much less of a chance at dealing with the other deficit or any number of other challenges. With the loss of employment and income comes a loss of a host of opportunities that previous generations have inherited from their middle class parents. The decline in the workforce makes it inevitable that state and local governments will make cuts in everything from education to social services that have long helped make up at least some of the difference for children of needy families -- providing, if nothing else, an education and often the full stomach needed to take advantage of the opportunity.

What our children will inherit is fewer opportunities to do as well as or better than their parents. In fact, their children will likely do worse than their parents, as they will not only have fewer opportunities, but far lower expectations for themselves, based on what they see their parents struggling with. (And their parents will probably find it difficult to exhort their kids to get an education, since it will have done the parents little good to do so. The jobless economy they are graduating into now, will be little changed if the jobs deficit persists, as there will be fewer consumers, thus a lower demand for goods and services, and ultimately no need for employers to expand. If anything, it means more joblessness.