1 in 3 millenials live with mom and dad
It appears that culture has as much to do with this as the economy; it is a preference.
Even though the number of people in the 18-34 age bracket has gone up by around 3million since recession started to bite in 2007, half a million fewer of them are now living independently.
In 2010, the U.S. economy’s lowest ebb, 69 per cent of young adults lived apart from their families, but five years on the proportion has fallen to 67 per cent – leaving a full third still in the family nest.
The findings, published by the Pew Research Center, come as youth unemployment fell from 12.4 per cent in 2010 to 7.7 per cent now, while average weekly earnings have increased to $574, from a low of $547 in 2012.
The figures do not include students who are enrolled full-time.
Although it remains true that better-educated young adults are more likely to branch out on their own, both those with and without degrees have become less likely to be independent householders.
Obama has transformed America – back to the olden days. Now, instead of branching out, getting jobs, starting families, people live in vertical arrangements; they remain in the family home, and if they have kids they just raise them in the basement. Now we can have (great) grandma and grandpa, grandma and grandpa, mom and dad, Sally, and the three kids. It is a new America, perhaps with shades of the Lower East Side in the nineteenth century.
But, of course, it isn’t all cultural. We are experiencing the Worst Expansion Since WWII
The economic expansion—already the worst on record since World War II—is weaker than previously thought, according to newly revised data.
From 2012 through 2014, the economy grew at an all-too-familiar rate of 2% annually, according to three years of revised figures the Commerce Department released Thursday. That’s a 0.3 percentage point downgrade from prior estimates.
The revisions were released concurrently with the government’s first estimate of second-quarter output.
Since the recession ended in June 2009, the economy has advanced at a 2.2% annual pace through the end of last year. That’s more than a half-percentage point worse than the next-weakest expansion of the past 70 years, the one from 2001 through 2007. While there have been highs and lows in individual quarters, overall the economy has failed to break out of its roughly 2% pattern for six years.
While exercising this morning, I learned that the second quarter increase was 2.3%, lower than the expected 2.5% And one of the reasons given was that businesses refuse to invest. Elizabeth Warren will have something to say about that one, let me assure you!!! But until the government takes over the means of production, I think we need to acknowledge that businesses are afraid to invest because they never know what sorts of weird regulations or taxes will be imposed. ObamaCare was a disaster, and continues to be a disaster. And of course, there is the attitude of hatred toward any individual or any business that doesn’t toe the progressive line.
I had the thought – please tell me, Gentle Reader, if this is crazy – that the Donald Trump phenomenon is largely that he is the anti-Obama. He struts around, loudly proclaiming how rich he is. He is relatively clear about labeling our problems (whether he is accurate is a different matter; he is clear), he is dismissive on the metrosexual thing. He is pro-conservative. He is easy to understand. He doesn’t have perfect creases in his trousers.
Now, the case has been made that in many ways he is similar to Obama, Mr. I-Will-Make-The-Oceans-Recede. That they are both pompous assholes. Personally, I’d rather have Walker, Rubio, Kasich, Perry, Carson, etc., in other words, a grown-up, but Trump is resonating. I think it is that people are so sick of double-speak, lawyerly crap.