Report: Number of millennials living with parents is rising sharply

[davidn3600]

More Americans than ever live in multigenerational households, and the number of millennials who live with their parents is rising sharply, according to a study released Thursday.

A record 57 million Americans, or 18.1% of the population, lived in multigenerational arrangements in 2012, according to the Pew Research Center. That's more than double the 28 million people who lived in such households in 1980, the center said.

A multigenerational family is defined as one with two or more generations of adults living together.

The sluggish job market and other factors have propelled the rise in millennials living in their childhood bedrooms.

About 23.6% of people age 25 to 34 live with their parents, grandparents or both, according to Pew. That’s up from 18.7% in 2007, just prior to the global financial crisis, and from 11% in 1980.

http://www.latimes.com/business/la-fi-more-millennials-moving-home-20140717-story.html

[Warpy]

1. It gets really tough when the Millennials have kids

and have been used to running their own lives for a while. Not only is everybody stressed by being crammed into too little space, parental lines are blurred and even undermined.

While some people wax sentimental about the multigenerational extended family sharing living quarters, the proof of how smoothly it really goes is in how fast it's discarded as soon as somebody gets a job that pays enough to live on. Once they've saved the down payment or security deposit, they're out the door like they were shot out of cannons.

[phil89]

2. This is interesting to me

I often think people are way too eager to buy a big house, cars, etc. (electronics, etc.) and multi generational homes are looked down on because in America, you're a "loser" if you live with parents. I really wonder if the economy will force a new normal on people and steer beliefs about this in another direction. Any thoughts? I feel like pooling resources is a good idea and rent/utilities are a big expense.

[Warpy]

5. As soon as we got Social Security and protection for older workers from unions

those idealized multigenerational families couldn't wait to go their separate ways. Even if there was a compelling reason to stay together, say they were rural, the family with the kids stayed in the farmhouse and the grandparents decamped to a trailer on the property or moved close but in town.

While some people are too eager to buy whatever credit will allow them, others do live within their means. Neither is immune from having companies go belly up, go offshore, or replace them with cheaper labor or robotics domestically. All are at risk for moving home with the 'rents.

However, the proof that the extended family in one dwelling didn't work as well as TV producers and novelists portrayed it is the speed at which it was discarded.

[leftstreet]

3. They should be included in Homeless Statistics

For a more accurate picture of the state of the great USA! USA! USA!

DURec

[bigwillq]

4. The American dream is dead (nt)