US Living with Parents

There are 3.4 million US adults living with parents. This is expected to get worse until these non-self-supporting adults can afford to support themselves.

A few are families temporarily displaced by hurricanes and floods. Some are divorced and just move back home to regroup. Some have been evicted and need to finally learn math.  Most cannot afford rent and utilities and are saving money and attempting to increase their earnings. Many are underemployed and looking for jobs that pay enough to allow them to be on their own.

Millennials who took the wrong college courses are struggling to repay their student loans. Too many took degrees for government jobs and those are shrinking due to deregulation.

There are single adults who live with friends or roommates, but this is also hard to do. Most single individuals want their own place and are working to be able to afford it.

It requires at least $40,000 per year to pay rent, utilities, transportation, insurance, food and taxes. Most need a car and are required to have auto insurance. Monthly apartment rental can cost $1000 and utilities can cost $500. At best you need a roommate unless you make $50,000 per year.

Having off-shored our economy in the 1990s, we are reliving the difficulties we faced in the 1800s, when most adult children lived in their parents’ “family home” until they were in their 30s. Many young men left home to “make their fortunes”. If they were successful, they had enough money to build a home, get married and have a family. Those who were able to form groups of sellers and buyers of “in demand goods” were successful. Many were not successful.

Today, interest rates are low and those who save their money to buy a home will be able to buy one. The key to maintaining revenue is to provide goods or services that are in demand and establish your own family business.

Norb Leahy, Dunwoody GA Tea Party Leader