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Trend of the Recession: More Adult Children Moving Back Home
A New Report Shows Largest Ever Jump in Adults Moving in Back in with Parents
This does wonders for the housing market.
Also according to the AP, less than half of 16 to 24 year olds (46.1%) are currently employed which is the lowest number ever recorded since the statistic began to be analyzed in 1948. Also, a record 11.5 million Americans are currently attending college.
Too bad many of the jobs of the future don't require a college degree, and the ones that do often require very specific training.
Education and Debt
Note the occupations with the largest numerical increases in employment, projected 2006-2016 (as seen in Chart 8).
"The Financial Stability Implications of Digital Assets"
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An interesting paper from researchers at the NY Fed: The Financial
Stability Implications of Digital Assets Here is the overview:
• This article considers...
3 hours ago
9 comments:
Mark,
It is almost unreal how many deadbeat adults live with Mom and Dad until they are about 30 years old!
Of course then they go out and get an FHA loan for a Miami condo or something.
If you are a parent and your child is over 24 and still living at home you are making a huge mistake on many levels. Give em the boot!
GYSC,
"If you are a parent and your child is over 24 and still living at home you are making a huge mistake on many levels."
Here's one level in particular.
"Older Americans Going Deeper in Debt"
http://bulletin.aarp.org/yourmoney/personalfinance/articles/olderamericans.html
"Experts blame the financial problems of older Americans on an array of factors, among them: job loss, medical expenses, death of a spouse, divorce, financial support for children or grandchildren and less retirement income."
Ok,
It is 8:30am here on the East coast and I am on vacation! Maybe I will harasss Mark for the day.
Mark,
if you have a minute check out the study in contrasts pot I just out up as another site uses an almost identical title for a post that Iused last week, yet we are totally opposites of the issue!
"A New Report Shows Largest Ever Jump in Adults Moving in Back in with Parents"
These pampered adults must not have had a super strict 'old school' dad like mine, if they did they would live in a pup tent before moving back home.
I'm not saying that I don't love my parents because I do, but they were never my friends, and you didn't back talk them or not do what you were told.
I can assure you that my brothers and I did not rule the roost in dad's household like I see so many of today's children doing.
Watchtower,
My parents divorced pretty early, and my mom had to work night shifts (11pm-7am) for most of my Junuor high/High school life. I could have done whatever I wanted and found all kinds of trouble, but I appreciated what my mom was doing and I was well behaved as not to cause a concern for her out of respect. After all that effort I would consider it an outrage to try and mooch off of her later when I was physically able to work. Some folks have it way too easy.
GYSC,
"I could have done whatever I wanted and found all kinds of trouble, but..."
Many these days seem to think all kinds of trouble is a way of life.
I'm far less concerned about children living with parents as times turn tough than I am about children living in prison, especially if those children have children. Sigh.
Mark,
I remember one time in High School I was not feeling well and wanted to get dismissed for the day. The nurses station was in the basement of one of the two buildings of my high school (it was a huge high school). I went doen there and there was an entire child crae center in the base,ment that nobody knew about. All the kids were the children of the children in the high school. No social commentary here, but I was pretty shocked and had no idea there were that many young moms in my school.
GYSC,
I grew up in a small farming community. None of my classmates had children. I'm pretty sure we all graduated too.
High School Graduation Rates Plummet Below 50 Percent in Some U.S. Cities
http://www.foxnews.com/story/0,2933,344190,00.html
"In Detroit's public schools, 24.9 percent of the students graduated from high school..."
I sure hope this isn't another case of "what's good for GM is good for the country". Sigh.
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