Half of US young adults live with their parents, creating a luxury boom

[1srelluc]

Nearly half of young adults in the US are living at home with their parents, and all that saved rent is fueling a luxury boom

“A record number of young adults in the US are currently living at home, and all that saved rent is sparking a luxury boom.

Recent data from the US Census Bureau shows that nearly half of young Americans between ages 18 and 29 are living with their parents today. That's a historical high not seen since the Great Depression era, Morgan Stanley analysts wrote in a Friday note.

The analysts estimated that around 48% of young adults are living with parents in 2022, similar to levels seen in the 1940s.

But that's great news for luxury retailers, because saving on daily necessities like rent and groceries is freeing up disposable income for discretionary spending, a team of Morgan Stanley analysts that Edouard Aubin leads found.”

Back when I was a young man a young woman would not give you the time of day if you lived with your parents.
It sure doesn't have the loser stigma it used to have anymore.....Then again neither does being on welfare.

 

[Moonglow]

Nearly half of young adults in the US are living at home with their parents, and all that saved rent is fueling a luxury boom

“A record number of young adults in the US are currently living at home, and all that saved rent is sparking a luxury boom.

Recent data from the US Census Bureau shows that nearly half of young Americans between ages 18 and 29 are living with their parents today. That's a historical high not seen since the Great Depression era, Morgan Stanley analysts wrote in a Friday note.

The analysts estimated that around 48% of young adults are living with parents in 2022, similar to levels seen in the 1940s.

But that's great news for luxury retailers, because saving on daily necessities like rent and groceries is freeing up disposable income for discretionary spending, a team of Morgan Stanley analysts that Edouard Aubin leads found.”

Back when I was a young man a young woman would not give you the time of day if you lived with your parents.
It sure doesn't have the loser stigma it used to have anymore.....Then again neither does being on welfare.

When you were a kid housing wasn't as expensive.

 

[Votto]

When you were a kid housing wasn't as expensive.

But the economy is soooo great!!

You kids need to listen more to papa Biden and CNN.

 

[1srelluc]

But the economy is soooo great!!

You kids need to listen more to papa Biden and CNN.

Those $1200.00 I-Phones and Door-Dash don't pay for themselves you know.

 

[initforme]

Of what difference does it make if they are living with their parents? Is them saving money bad? It just really does not matter.

 

[Seymour Flops]

Obama created the Failure to Launch Generation, and COVID has been keeping those over-age kids safely in the nest. That twelve hundred dollar COVID relief wasn't much for my wife and I, both still working full time all through COVID. It was nice to get, but since we understand math, we knew we would pay the price in inflation as sure as we knew that the sun would come up.

But to a 28 year-old guy living at home, playing video games, eating Cheetos, and masturbating his life away, a dozen hondos meant a bigger screen, a new phone with more streaming capacity, or a vacation getaway from the routine paid for by those who are working.

Savings by not making student loan payments are also largely being used for luxury items.

 

[DGS49]

When I was a young adult - just out of the Army - I thought it was my duty to myself to get out on my own, and I did so at age 21 (of course, I was sort of "on my own" while in the Army). I disdained my contemporaries who lived at home with parents into their mid-20's (nobody did so longer than that).

And yet, that would have been the better course for me. When I got married a few years later, my financial net worth was below zero. Had I stayed at home, I could have had a down payment for a house, in the bank, by the time I got married.

Several years ago, while giving a talk to graduating seniors at Princeton, President Obama touted the fact that under ACA, "kids" could stay on their parents' health insurance until they reached the age of 26, and he got loud cheering and applause.

A generation earlier, he would have been boo'ed for implying that a 26-year-old Princeton grad couldn't get his own [fcuking] health insurance.

As with many things, reality has been flipped on its head. Financial emancipation went from something to be desired and congratulated, to something to be delayed and even feared.

People have been saying this for eons, but "This generation sucks."

 

[Seymour Flops]

When I was a young adult - just out of the Army - I thought it was my duty to myself to get out on my own, and I did so at age 21 (of course, I was sort of "on my own" while in the Army). I disdained my contemporaries who lived at home with parents into their mid-20's (nobody did so longer than that).

And yet, that would have been the better course for me. When I got married a few years later, my financial net worth was below zero. Had I stayed at home, I could have had a down payment for a house, in the bank, by the time I got married.

It might have been the better course for you financially, but I don't know if would have been the better choice for you as far as you personal development. Those young adult years, struggling financially, lead to maturity for later adult years when you become more successful financially.

Several years ago, while giving a talk to graduating seniors at Princeton, President Obama touted the fact that under ACA, "kids" could stay on their parents' health insurance until they reached the age of 26, and he got loud cheering and applause.

A generation earlier, he would have been boo'ed for implying that a 26-year-old Princeton grad couldn't get his own [fcuking] health insurance.

As with many things, reality has been flipped on its head. Financial emancipation went from something to be desired and congratulated, to something to be delayed and even feared.

It's because of anything goes parenting. In our day, who wanted to live under parent's house, parent's rules? If I had stayed with my parents until I was 26, my mom still wouldn't have let me keep beer in the fridge. I surely could not have had a girl spend the night.

People have been saying this for eons, but "This generation sucks."

Yes, it does, and our generation created the suck. People our age enabled all of this. But the endless wars allowed a small percentage of the population - those who served - to sharply distinguish themselves from their pink-haired gender-fluid contemporaries. Even that opporunity is now going away under Biden, with his military dedicated to wokeness instead of lethality.

 

[initforme]

If a kid is working full time, saving, and living at home, where is the harm? The vast majority of employers offer crappy insurance so being on a parents insurance which may be better is a wise move.

 

[Woodznutz]

Nearly half of young adults in the US are living at home with their parents, and all that saved rent is fueling a luxury boom

“A record number of young adults in the US are currently living at home, and all that saved rent is sparking a luxury boom.

Recent data from the US Census Bureau shows that nearly half of young Americans between ages 18 and 29 are living with their parents today. That's a historical high not seen since the Great Depression era, Morgan Stanley analysts wrote in a Friday note.

The analysts estimated that around 48% of young adults are living with parents in 2022, similar to levels seen in the 1940s.

But that's great news for luxury retailers, because saving on daily necessities like rent and groceries is freeing up disposable income for discretionary spending, a team of Morgan Stanley analysts that Edouard Aubin leads found.”

Back when I was a young man a young woman would not give you the time of day if you lived with your parents.
It sure doesn't have the loser stigma it used to have anymore.....Then again neither does being on welfare.

Leave home asap. Let the partying begin!

 

[Woodznutz]

If a kid is working full time, saving, and living at home, where is the harm? The vast majority of employers offer crappy insurance so being on a parents insurance which may be better is a wise move.

Smartest thing a young person can do for many reasons.

 

[Greenbeard]

Several years ago, while giving a talk to graduating seniors at Princeton, President Obama touted the fact that under ACA, "kids" could stay on their parents' health insurance until they reached the age of 26, and he got loud cheering and applause.

A generation earlier, he would have been boo'ed for implying that a 26-year-old Princeton grad couldn't get his own [fcuking] health insurance.

People share Netflix passwords and they stay on family cell phone plans, too, for the same reasons they're not eager to give up discounted health insurance. Pissing away money when you don't have to is not a point of pride in this century.

 

[Harpy Eagle]

When I was a young adult - just out of the Army - I thought it was my duty to myself to get out on my own, and I did so at age 21 (of course, I was sort of "on my own" while in the Army). I disdained my contemporaries who lived at home with parents into their mid-20's (nobody did so longer than that).

You were out of the army by age 21? Did you join when you were 16?

Several years ago, while giving a talk to graduating seniors at Princeton, President Obama touted the fact that under ACA, "kids" could stay on their parents' health insurance until they reached the age of 26, and he got loud cheering and applause.

A generation earlier, he would have been boo'ed for implying that a 26-year-old Princeton grad couldn't get his own [fcuking] health insurance.

It not the Princeton grads that law was designed for. And it is a life saving (literally) law for young adults with pre-existing conditions. Our son is about to turn 21 and if we had to boot him off our insurance already he would never find insurance he could afford being a Type-1 diabetic.

 

[Seymour Flops]

You were out of the army by age 21? Did you join when you were 16?

I joined the Army at 19 with a two year committment. That was 1982.

It not the Princeton grads that law was designed for. And it is a life saving (literally) law for young adults with pre-existing conditions. Our son is about to turn 21 and if we had to boot him off our insurance already he would never find insurance he could afford being a Type-1 diabetic.

I thought Obamacare provided affordable care? It was literally called "The Affordable Care Act," so if it didn't, somebody lied.

 

[Harpy Eagle]

I joined the Army at 19 with a two year committment. That was 1982.

I forgot the Army did 2 year stints. The Marines do not waste time with such things.

I thought Obamacare provided affordable care? It was literally called "The Affordable Care Act," so if it didn't, somebody lied.

Of course someone lied, the name of every bill is pretty much a lie. The ACA more than most. It is the number one factor in why I rank Obama in the bottom 4 presidents ever.

 

[DGS49]

I joined the Army a month before I turned 19, served 2 years and 7 months.

 

[Seymour Flops]

I joined the Army a month before I turned 19, served 2 years and 7 months.

Did you sign up for two and extend?

That's what I did. I was living the good life in Frankfurt, Germany, so I added six months to my term, then got out in the summer of 1984. Hated to leave, but college awaited.