Saturday, August 17, 2024

US Fam-fare 8-17-24

Fam-fare is my contraction for Family Welfare. Grandparents and Great Grandparents are seeing more of their family members, because they can’t afford their rent. It’s like watching re-runs of The Waltons. 

Multigenerational households are becoming more common across America. According to Pew Research Center, young adults are more likely to be living in a multigenerational household compared to 50 years ago. The center found in 2021 that 68% of adults between the ages of 25 and 34 lived at home with a parent. Feb 9, 2024

Gen Z and millennials are moving back in with their parents — here’s why

As more young adults move back in with their parents, the stigma against the idea is decreasing

Published: Feb 9, 2024, 8:28 a.m. MST

Many young adults — members of Generation Z, as well as young millennials — are choosing to live with their parents after they turn 18, a trend that is surprising quite a few Americans.

Is it inflation, lack of housing or personal preference that’s fueling the phenomenon?

Experts believe the reason why is more complex — and might surprise you.

How many young adults live at home?

According to Axios, new census data shows that 87% more adults between the ages of 25 and 34 are living at home with their parents compared to 20 years ago.

According to a Bloomberg analysis, nearly half of young adults live with their parents, a rate that hasn’t been seen since the 1940s; that’s about 23 million adults between the ages of 18 to 29.

In 2020, Pew Research Center found that 52% of young adults (between the ages of 18 and 29) lived at home with their parents, a rate that hadn’t been seen since the Great Depression.

Under one roof

Why do young adults live with their parents? Bloomberg found that there were three top reasons why young adults were choosing to live at home with their parents: To save money. To take care of older family members. Because they can’t afford to live outside of the home anymore.

According to Axios, rent is very expensive and not improving, so staying home helps young people save money for a future down payment or future rent.

Bloomberg interviewed several young adults for its analysis. One shared that employment opportunities were becoming scarce by the time she became a senior in college.

Multigenerational households are becoming more common across America. According to Pew Research Center, young adults are more likely to be living in a multigenerational household compared to 50 years ago. The center found in 2021 that 68% of adults between the ages of 25 and 34 lived at home with a parent.

https://www.deseret.com/u-s-world/2024/2/9/24062898/gen-z-and-millennials-move-back

Comments

Those of us who were born in the 1940s have experienced an increase in living standards, a relatively good economy and a remarkable amount of inter-generational wealth through home ownership. Our 6 kids, who were born from 1965 to 1973 went to work in summer and part-time service jobs at age 14 in the 1970s and 1980s completed their occupational degrees and they are doing well. Our grandkids who were born from 1986 to 2012 are doing ok, but the US economy and education are not doing ok.

We kept our home after our kids moved out, because we knew some of them might need to move back.

We need to fix the Education System to include more useful subjects and eliminate the toxic indoctrination. We also need to return manufacturing to the US to rebuild the Private Sector Economy.

Norb Leahy, Dunwoody GA Tea Party Leader

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