9 million millenials move back in with their parents

I'm happy for them

Gen Z will reverse this trend. They really look down on Millennials and never want to become like them.

ZeroHedge? Really?

Perhaps you should have seen this thread first.

Sorry -- forgot link.

9 million millennial pink cellars.

My sympathies to their parents.

Rents have almost doubled where I live over the past 2 years so I’m not surprised. But older millennials should really have purchased a home by age 40.

This is not an unusual situation for much of the world. Living with ones family is a normal state of affairs for those cultures that are set up for it. The financial press likes to use living with ones family as a point to shame the first world populace into being " independent". Code for go into debt to the wealthy investor for the basics, if you want to be taken seriously as a human.The larger question is why do we all need to be in debt for basics to these Neo Feudal Banksters. It is all about getting the most out of people because we are viewed as something to be used. Not people, things.

Cool

R9 Correct. Old censuses (pre-1940, especially pre-1920) show many multigenerational households at the same address, or on adjacent plots of farmland carved out from parents' properties. The expectation post- WW2 that young people leave at 18 and have a home by 25 is the anomaly historically. Only young people laboring in mills/mining and living in boarding houses were out on their own so young, and they'd frequently move back in with family between jobs.

The ultimate humiliation.

Millenials are so pitiful.

R13 Your spelling is pitiful.

I moved back home for a year after a terrible job and situation nearly destroyed me. It’s nice to know you can always go home and be welcomed back. I love my parents for being good to me.

Raise wages and lower the cost of living. They’ll all get their own places.

I admire the strength of families who can live together. Is is a skill My generation, X, often lacks. My Mexican friend who I visit often at his family house in Mexico lives with his extended family. They all eat and play music together three generations strumming away on their guitars in the evenings.It is quite wonderful. I cannot get along with my family for two days we have no skills for getting along but just get mad and blow up. Something is missing in this culture.

Can we just call them Melanies?

R17 To be fair, I think that people's family relationships are different - some can get along, some can't. But certainly in other cultures people don't really have much choice so I expect that may make things different.

R17, it's the stress of living in a developed, capitalist country that makes people here more high strung.

India is the same as Mexico in the sense that everyone is just hanging out, having a good time. But nothing really gets done, either.

It would be nice if there were a middle ground.

Does this mean Gen-Z is more financially independent, or do they also live with their parents?

The boomers will burn every last penny they have to keep their corpse animated and only ever viewed their own children as needy parasites (they were the luckiest generation in human history and their parents sacrificed/invested heavily for them) . They can't be exterminated quickly enough.

I have a GenX friend who still lives with parents. Has the majority of his life.

R21 Gen Z are even worse off than millennials.

R8, I was watching a show recently where a financial advisor was saying it is tough for homeowners, too. He said many apartment dwellers decided to buy in the suburbs during the pandemic but may not have fully appreciated the cost of owning a home. The cost of repairs, taxes and home insurance is shooting up. He said his own home insurance in Connecticut shot up by 40%. Due to rising interest rates, less people will be able to buy a home so there will be less demand.

At least they will inherit their parents house.

R22 is showing paranoia and mental illness with his obsession with baby boomers. We don't want to live forever. A lot of boomers are saying they don't want to live to be old. I only want to live to be 75 which is two years away. We saw our 90 year old WW2 parents keep going and suffering. After 80 it is all suffering.

Total immigration moratorium and deport the ones already here until home prices go down to something the average American can afford.

I’m Gen X and I do feel bad for millenials. At least we had a window in the 90s to get into the RE market. While I think there is a level of toughness we had that is disappearing due to overparenting, the reality is they have a raw deal when it comes to real estate. Offset by an easier world to grow up gay.

Maybe, R29. But not everyone's parents are accepting even still so this talk of having to live in a home with multiple generations in it definitely isn't possible for all.

I know a few who are in their 20s,early 30s that are never going to leave home . The mothers love it,the fathers hate it. A few have good jobs too,but then theyd rather have "life experiences" like trips and luxury items than actually pay rent somewhere. I even know of one where the father went and rented an apt and moved his kids shit into it while he was gone on a trip. Dad wasnt fucking around. Part of it is indeed ridiculous rents,but part of it is a whole generation that refuses to grow up.

Why leave if there is no one telling you? I am Gen Jones and was told when you are 18, you are cut off. It forces you to be self-sufficient.

Fear not shamed youth. It's better to misjudge an enemy as a friend than a friend as an enemy. I was asked to fend for myself on the morning of my 18 the birthday. Don't let your parents off easy. Boomers are living way in the past. they are leaving us with a tremendous mess make them pay forward for your cleaning fee.

Some parents don't mind because they see their kids as their future caretakers.

Some parents don't mind having their children stay at home, because they don't have friends.

R28: ban immigration to keep the population down!

Also r28: ban abortion to keep the population up!

Not too bright, are you dear?

Most likely they will inherit the house but won’t be able to support it and will remain broke, scrolling through TikTok with earbuds in while the eviction police are banging at the door.

I changed the locks on my doors after the third (fourth?) time my kid tried to move back in after I had paid for the deposit or rent on several different apartments for him. I planned on actively parenting for 18-20 years, not 25+. By that age I already had a kid and was putting myself through college. Having an adult child living at home is like having the world's worst roommate that you didn't want as a roommate to begin with.

If you can't afford housing, then what other choice is there? It's one thing to forgo unimportant luxuries like a new car, new phone, new clothes, eating out, etc. But you have to have a place to live and you have to have a working car in most of America.

Serious question: what is the best way to inherit a house? As a Millennial I don't want it to fuck me in taxes.

R40 There is a certain inheritance or gift a parent can pass on tax free. Ask a tax accountant.

I think someone who owns a home free and clear can use a form called a quit-claim, by which he gives up the sole ownership of the home and then can add another person to the deed. (Sort of like creating a new ownership of the property, now divided between two). In this instance, I don't think there is a tax liability, but maybe there will be an additional estate tax owed when the parent dies, depending on the total size of the estate. However, this is something that should be discussed with a tax professional.