Re:Why can't today's young adults leave the nest? Blame high...
by spacemadness on Friday January 12, 2024 @05:49PM
(#38975241)
It makes me sad that “not making sacrifices” can be said with a straight face to the latest generations growing up in our never ending housing and affordability crisis. I’m really starting to get fed up with people in my own generation (Gen-X) who increasingly seem to be losing the plot.
Considering that the costs of everything have not only skyrocketed but wages were stagnated for decades (https://www.pewresearch.org/short-reads/2018/08/07/for-most-...) before declining (https://www.axios.com/2023/09/12/real-incomes-fell-last-year...) - the largest decline in real wages in 40 years, and that the standard of living for Americans has also been declining for years, long before the recent massive hike in inflation, I doubt it has much if anything to do with an unwillingness to make sacrifices. In fact, it seems like young adults today are being forced to make sacrifices left and right. In the 1980s young adults had homes, full time employment, cars, health insurance, babies, pension plans, $60,000 less debit from their student loans, and hope for the future.
It's pretty smart for young adults to live somewhat near family because they can get a lot of help and support that way, but the fact that they can't even afford to leave their parent's home is a very bad sign for our economy. When kids move out they pay for a ton of new things like furniture, cars, silverware, irons, vacuum cleaners, towels, streaming services etc. When they're at home there's no need at all to buy a lot of things because their parents already have them.