— Nick Timiraos (@NickTimiraos) December 21, 2016
Wall Street Journal – Almost 40% of young Americans were living with their parents, siblings or other relatives in 2015, the largest percentage since 1940, according to an analysis of census data by real estate tracker Trulia.
Despite a rebounding economy and recent job growth, the share of those between the ages of 18 and 34 doubling up with parents or other family members has been rising since 2005. …
The trend runs counter to that of previous economic cycles, when after a recession-related spike, the number of younger Americans living with relatives declined as the economy improved. …
Analysts point to rising rents in many cities and tough mortgage-lending standards as the culprit, making it difficult for younger Americans to strike out on their own. …
The share of young Americans living with parents hit a high of 40.9% in 1940, just a year after the official end of the Great Depression, and fell to a low of 24.1% in 1960. It hovered between about 31% and 33% from 1980 to the mid-2000s, when the rate started climbing steadily.
Trust me, I’m not about to deliver a self-righteous lecture to the Millennials about how they’re a lazy, worthless bunch of degenerates and I use to have to walk five miles to school with Wonder Bread bags over my shoes and a hot potato in my pocket to stay warm, then eat the potato for lunch. One, because that never happened. And B) because I’ve met plenty enough 18- to 34-year-olds who are much better people than I ever was.
I’ve been down to Parris Island and met brand new Marines. I’ve done dozens of comedy appearances raising money for charities and talked to the 20-somethings putting all their time into making the world a better place. And it’s always a reminder of what a self-absorbed, unproductive carbon blob I always was. What finally motivated Irene & Bud’s baby boy to move out of their house wasn’t pride or some need for independence. It was when I realized if I was going to have any chance of getting laid on a regular basis, it probably wasn’t going to happen in a room with my Larry Bird posters on the wall. I mean, it didn’t work. But I was glad to be living with roommates anyway.
So I’m in no position to bitch to anyone about living with their parents. I will, however, bitch at the parents. If anyone is responsible for this societal abomination, it’s them. If your kids move back in with you for any length of time after college, you have failed them. Utterly. If they’re approaching their 30s and making excuses about the job market or say they’re just living at home while “saving for a house,” you did not prepare them for life. And if you can’t shame them into moving out by busting in on them while they’re watching porn, embarrassing them with your dad jokes or just driving them out with loud, disgusting, middle aged sex? That’s a you problem, not a them problem.