BY TYLER DURDEN MONDAY, OCT 02, 2023 - 06:20 AM
Authored by Michael Snyder via The Economic Collapse blog,
When are we going to wake up and admit that our system is failing? If close to half of our young adults find themselves needing to live with their parents, we have a major crisis on our hands. Yes, there are some young people that are simply lazy and don’t want to work hard enough. I definitely understand that. But most young adults in America today don’t actually want to live with their parents. Given the opportunity, they would love to have their own homes. Unfortunately, home prices have risen to absolutely absurd levels and housing in America is now more unaffordable than it has ever been before.
I feel so badly for the millions upon millions of young people that are struggling so much right now.
We encourage them to pile up giant mountains of student loan debt without ever considering the consequences, and then once they get out into the real world they quickly discover that the cost of living has become extremely suffocating.
As a result, vast numbers of young adults are finding that it is necessary to move back in with their parents…
Nearly half of all young adults are living with their parents — and they’re not ashamed to say it.
Moving out and living on your own is often seen as a marker of adulthood. But dealt an onerous set of cards — including pandemic lockdowns, decades-high inflation, soaring student debt levels and a shaky job market — young people today are increasingly staying put. What’s more, it’s no longer seen as a sign of individual failure.
Needless to say, this is not a good thing for our society.
The last time that such a high percentage of young adults were living with their parents was during the aftermath of the Great Depression…
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