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(My 9 NJ)   One in four young adults in New Jersey have moved back in with their parents. The other three have finally made enough money to completely get out of the state   (my9nj.com) divider line 48
    More: Interesting, New Jersey, Coldwell Banker  
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337 clicks; posted to Business » on 21 Aug 2013 at 9:21 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-08-21 09:46:56 AM  
I'm not surprised.  The property values/taxes in much of the state are insane.  That, in combination with the high student debt load young people are saddled with makes home ownership in NJ next to impossible.  Young people have to move in with their parents in order to save on rent if they want to have a chance at ever owning a house.

/from what I hear, ok houses that are in decent areas start at 300k
 
2013-08-21 09:57:51 AM  

SaladMonkey: I'm not surprised.  The property values/taxes in much of the state are insane.  That, in combination with the high student debt load young people are saddled with makes home ownership in NJ next to impossible.  Young people have to move in with their parents in order to save on rent if they want to have a chance at ever owning a house.

/from what I hear, ok houses that are in decent areas start at 300k


A simple condo starts around 150k there. Property taxes are out of control and that is the bigger problem. I rented the entire time I lived there and property taxes are the exact reason my wife and I decided we would never buy and settle down in NJ. On the extreme side of things you have people like my mother and father in-law paying 18k/yr in property taxes on a 600k house.
 
2013-08-21 10:04:49 AM  
Must be Libs and or Socialists.. a Real 'Merkin™ would get on them bootsraps
 
2013-08-21 10:10:52 AM  

SaladMonkey: I'm not surprised.  The property values/taxes in much of the state are insane.  That, in combination with the high student debt load young people are saddled with makes home ownership in NJ next to impossible.  Young people have to move in with their parents in order to save on rent if they want to have a chance at ever owning a house.

/from what I hear, ok houses that are in decent areas start at 300k


but why would you bother trying to own a house in NJ?

for example, I have a cousin that lives in a townhouse community in edison where houses are selling at $350k. After mortgage, HOA, insurance and taxes the monthly payment is near $2700. Taxes are $1100 a month!

to rent the same size townhouse in her development? $1800-$1900.
 
2013-08-21 10:12:20 AM  
Not just NJ, but a trend all over the country. Kids remaining at home longer. Even different generations of and extended families under the same roof. Increased debt, pooling of resources, inability to save for down payment, three decades of stagnant wages, and even failure to launch. It's seems like many people are struggling to make ends meet. Don't awaken from your slumber, you might begin to ask why the deck is stacked against you.
 
2013-08-21 10:13:25 AM  

sammyk: SaladMonkey: I'm not surprised.  The property values/taxes in much of the state are insane.  That, in combination with the high student debt load young people are saddled with makes home ownership in NJ next to impossible.  Young people have to move in with their parents in order to save on rent if they want to have a chance at ever owning a house.

/from what I hear, ok houses that are in decent areas start at 300k

A simple condo starts around 150k there. Property taxes are out of control and that is the bigger problem. I rented the entire time I lived there and property taxes are the exact reason my wife and I decided we would never buy and settle down in NJ. On the extreme side of things you have people like my mother and father in-law paying 18k/yr in property taxes on a 600k house.


I'm a bit confused by this.  When you rent, you are paying property taxes.
 
2013-08-21 10:20:40 AM  

Rapmaster2000: I'm a bit confused by this. When you rent, you are paying property taxes.


Yeah, but you leave yourself the option to hightail it out of there when you find something better.
 
2013-08-21 10:24:16 AM  
And this is why millionaires need more tax breaks.
 
2013-08-21 10:27:49 AM  

dumbobruni:
but why would you bother trying to own a house in NJ?

for example, I have a cousin that lives in a townhouse community in edison where houses are selling at $350k. After mortgage, HOA, insurance and taxes the monthly payment is near $2700. Taxes are $1100 a month!

to rent the same size townhouse in her development? $1800-$1900.


Owning comes with certain benefits.  (1) there are income tax benefits from the mortgage, (2) there's predictability in the payment structure (rent has a tendency to go up while a mortgage is set), (3) potential for investment growth since we are now hopefully close to the bottom of the market, (4) most importantly, it's your place to do with as you please - landlords typically don't allow or reimburse you for modifications such as hardwood flooring, upgraded kitchen etc....

Based on what you described, it seems like you lucked out with your rent.

Rapmaster2000: I'm a bit confused by this.  When you rent, you are paying property taxes.


Landlord pays property taxes, tenant just pays the rent.  Obviously, the rent has a proportional relationship to the township taxes since a landlord wants to make money so places with higher taxes typically have higher rents.
 
2013-08-21 10:32:59 AM  

snowshovel: And this is why millionaires need more tax breaks.


The more expensive your home the more tax breaks you get.  Think of the tax shelter you're getting on a $600,000 mortgage with $18,000 in property taxes.  Even with 20% down at a 4% rate you should expect to deduct over $12,000 if you're the kind of person who makes enough to guy that home (I assumed 33% tax rate).  Not bad.

This tax break needs to be eliminated, but it won't be.  It keeps property values too high and subsidizes high property taxes with income tax deductions.  Unfortunately, people with huge mortgage based tax shelters tend to donate more money to politicians than people without tax shelters (re: renters).
 
2013-08-21 10:34:28 AM  
SaladMonkey:

Rapmaster2000: I'm a bit confused by this.  When you rent, you are paying property taxes.

Landlord pays property taxes, tenant just pays the rent.  Obviously, the rent has a proportional relationship to the township taxes since a landlord wants to make money so places with higher taxes typically have higher rents.


Which is the point.  The renter is covering the property tax with rent money.  The landlord isn't eating that cost.
 
2013-08-21 10:42:33 AM  

Rapmaster2000: sammyk: SaladMonkey: I'm not surprised.  The property values/taxes in much of the state are insane.  That, in combination with the high student debt load young people are saddled with makes home ownership in NJ next to impossible.  Young people have to move in with their parents in order to save on rent if they want to have a chance at ever owning a house.

/from what I hear, ok houses that are in decent areas start at 300k

A simple condo starts around 150k there. Property taxes are out of control and that is the bigger problem. I rented the entire time I lived there and property taxes are the exact reason my wife and I decided we would never buy and settle down in NJ. On the extreme side of things you have people like my mother and father in-law paying 18k/yr in property taxes on a 600k house.

I'm a bit confused by this.  When you rent, you are paying property taxes.


Know what's better?  You're also entitled to the homeowner's rebate on your state income taxes.

I rented for two years after college before I moved to FL.  That little bonus confused me.  I guess the reasoning is that since part of your rent goes to pay the property taxes your landlord owes, you're entitled to a portion of the rebate.

FL has no state income taxes.
 
2013-08-21 10:45:30 AM  
And they are moving towards South Park...

1.bp.blogspot.com
 
2013-08-21 10:45:53 AM  

Rapmaster2000: sammyk: SaladMonkey: I'm not surprised.  The property values/taxes in much of the state are insane.  That, in combination with the high student debt load young people are saddled with makes home ownership in NJ next to impossible.  Young people have to move in with their parents in order to save on rent if they want to have a chance at ever owning a house.

/from what I hear, ok houses that are in decent areas start at 300k

A simple condo starts around 150k there. Property taxes are out of control and that is the bigger problem. I rented the entire time I lived there and property taxes are the exact reason my wife and I decided we would never buy and settle down in NJ. On the extreme side of things you have people like my mother and father in-law paying 18k/yr in property taxes on a 600k house.

I'm a bit confused by this.  When you rent, you are paying property taxes.


Not directly but it certainly raised the price of my rent. When my wife and I considered staying in NJ and looked to buy a house the property taxes really made it a non-starter. I simply was not going to throw any equity I would make on the house into an oversized tax bill every year. We did not have that much keeping us there and I talked her into giving Charlotte a shot. It's the best move we ever made for a lot of reasons. Housing prices and property taxes are on the short list.

Back to the point of the article. I can't imagine how hard it is for a young person just out of college making, oh say 30-40k/yr, to keep a roof over their head and keep a running car on the road and actually still have grocery money.

Which brings up another point I think these articles often miss. When Jr. comes home after college because he can't get the loans paid off, keep a car on the road and a roof over his head on his crappy 1st job out of college salary is he really freeloading? I think most of the time you have a young person making a decent salary that is actually helping their parents financially.

/wonders if the freakanomics guys would study this
 
2013-08-21 10:53:20 AM  
sammyk:

Not directly but it certainly raised the price of my rent. When my wife and I considered staying in NJ and looked to buy a house the property taxes really made it a non-starter. I simply was not going to throw any equity I would make on the house into an oversized tax bill every year.

Gotcha.  I can understand that.  I feel the same about HOAs for single-family homes.
 
2013-08-21 10:55:50 AM  
So, recent college graduates can't afford cars or rent and, as a result, have to move back in with the parents.  But go on, keep telling us that college is worth its price.

This shiat is getting depressing.
 
2013-08-21 10:58:26 AM  
I just signed a lease to live in Cherry Hill, NJ. Rent is $1350 a month (roommate so half). Building is old like it's tenants, but other then that it's quiet, the floors are solid, and the place is big. My roommate has a German Shepard so this was the only place that would take him.

I know we could be living somewhere nicer with more amenties and less price too...but that's another story. I am looking forward to being "From South Jersey".
 
2013-08-21 11:01:51 AM  

Dahnkster: Not just NJ, but a trend all over the country. Kids remaining at home longer. Even different generations of and extended families under the same roof. Increased debt, pooling of resources, inability to save for down payment, three decades of stagnant wages, and even failure to launch. It's seems like many people are struggling to make ends meet. Don't awaken from your slumber, you might begin to ask why the deck is stacked against you.


I think many people don't realize how the rare the concept of living on one's own prior to marriage is, historically speaking.  According to the BLS, in 1915 "young adult children seldom left the parental home to live alone prior to marriage, and indeed, more than 5 percent shared a household--usually with parents or relatives--at least temporarily after marriage."  The big reason for the boom in "adults living alone" is because of the delay in getting married, and it wasn't until the 1980s that the average woman got married after college (23 years old).  That number is up to 27 now.  Living on your own is expensive and, prior to the last 30 years or so, isn't something people really did.  And even over the last 30 years, the percentage of adults 25-34 living with their parents nationwide has hovered around 15% for men and just under 10% for women.  That number has increased because of the recession, but historically speaking, 20% of adults 25-34 living with their parents isn't an extreme aberration.
 
2013-08-21 11:09:28 AM  

sammyk: Back to the point of the article. I can't imagine how hard it is for a young person just out of college making, oh say 30-40k/yr, to keep a roof over their head and keep a running car on the road and actually still have grocery money.


I think a lot of it depends on where you live.  My first job out of college I made $36-40k and, were it not for student loan debt, I'd have been living like a king.  Even with my student loan debt, I usually had $500 or so left over at the end of the month to pay off my debt.  Of course, I was living in Kansas and not going out every weekend so my costs were pretty low.
 
2013-08-21 11:15:07 AM  

rugman11: sammyk: Back to the point of the article. I can't imagine how hard it is for a young person just out of college making, oh say 30-40k/yr, to keep a roof over their head and keep a running car on the road and actually still have grocery money.

I think a lot of it depends on where you live.  My first job out of college I made $36-40k and, were it not for student loan debt, I'd have been living like a king.  Even with my student loan debt, I usually had $500 or so left over at the end of the month to pay off my debt.  Of course, I was living in Kansas and not going out every weekend so my costs were pretty low.


There are tons of cost of living calculators that compare one place to another. My hypothetical kid would do just fine here in Charlotte on 30-40k/yr. He's gonna starve in NJ.
 
2013-08-21 11:36:39 AM  

sammyk: SaladMonkey: I'm not surprised.  The property values/taxes in much of the state are insane.  That, in combination with the high student debt load young people are saddled with makes home ownership in NJ next to impossible.  Young people have to move in with their parents in order to save on rent if they want to have a chance at ever owning a house.

/from what I hear, ok houses that are in decent areas start at 300k

A simple condo starts around 150k there. Property taxes are out of control and that is the bigger problem. I rented the entire time I lived there and property taxes are the exact reason my wife and I decided we would never buy and settle down in NJ. On the extreme side of things you have people like my mother and father in-law paying 18k/yr in property taxes on a 600k house.


Don't move to Texas.

Taxes + insurance will run you about 3.2% of the appraised tax value. Tax appraisals are updated every year.
 
2013-08-21 11:38:47 AM  
raerae1980


So, recent college graduates can't afford cars or rent and, as a result, have to move back in with the parents. But go on, keep telling us that college is worth its price.

This shiat is getting depressing.


College is worth it, you just have to get a degree in something that matters and move to the market where it matters.
 
2013-08-21 11:41:23 AM  
30-year old born and raised in NJ.

Got out in November of 2011 when I wanted to buy a house and took a look at the property taxes.. amongst other things like traffic, insurance, affordability, etc.

Couldn't be happier down here.
 
2013-08-21 11:44:33 AM  
Property tax on my $345k (purchased price, anyway) house in SC: $1280/yr. Actually went DOWN last year.

Property tax of equivalent in NJ? $15,000/yr.

Anyone who is willing to add >$1000/yr onto their mortgage is insane. Especially after Corzine got rid of the property tax rebates years ago and you can bet your ass Christie and his successors will not be restoring it.
 
2013-08-21 11:45:10 AM  
Er.. $1000/month. Sorry. Dumb brain fart.
 
2013-08-21 11:52:13 AM  

Random Anonymous Blackmail: raerae1980


So, recent college graduates can't afford cars or rent and, as a result, have to move back in with the parents. But go on, keep telling us that college is worth its price.

This shiat is getting depressing.

College is worth it, you just have to get a degree in something that matters and move to the market where it matters.



What and where would that be?   How can a student just pick up and move?   Moving is expensive as fark!!  And considering how crappy the economy has been, what degree would be 'safe'?    And please don't say STEMs because I know plenty of recent grads with STEM degrees that can't find jobs in their fields.   Not to mention they can't move to where the jobs are because they have no money.   It's a vicious cycle!!!
 
2013-08-21 12:00:18 PM  

raerae1980: How can a student just pick up and move?


Considering our hypothetical person has just ceased to be a student, the answer is "pick up, then move". It's not hard.
 
2013-08-21 12:10:05 PM  
so nation wide, US has about 30 percent of all men between 18 and 34 still living with their parents.  Congratulations everyone who complains about the US we are more and more like Europe and asia every day
 
2013-08-21 12:16:38 PM  

raerae1980: What and where would that be?   How can a student just pick up and move?   Moving is expensive as fark!!  And considering how crappy the economy has been, what degree would be 'safe'?    And please don't say STEMs because I know plenty of recent grads with STEM degrees that can't find jobs in their fields.   Not to mention they can't move to where the jobs are because they have no money.   It's a vicious cycle!!!


You're totally right on the "where?" question, because very little is safe.  Even the 'take your STEM degree and go to Silicon Valley' people are out of their gourds.  A computer science degree from Northwestern Oklahoma State University doesn't command the respect of a callback from a Palo Alto Starbucks.

On the other side, though, moving shouldn't be so hard.  After college, I moved states away in a hatchback. The college "furniture" was left at the curb. A couple trivial boxes stayed at my parents, but otherwise, it fit in the car (okay... bike was on the car). And this was back in the CRT monitor and VHS tapes era.  Today?  Pack your laptop. Pack your external hard drive filled with scans of whatever paperwork over the years and your movies and your music. Buy e-books when you can.  If a new college grad circa 2013 can't fit everything s/he owns worth taking in a small car, I'm going to go out on a limb and say s/he's doing it wrong.
 
2013-08-21 12:18:59 PM  

thurstonxhowell: raerae1980: How can a student just pick up and move?

Considering our hypothetical person has just ceased to be a student, the answer is "pick up, then move". It's not hard.


Based on this article, it would appear that many 'young adults' are finding it hard to 'pick up and move'.

I'm assuming many of those young adults were students at college.  *shrugs*
 
2013-08-21 12:27:32 PM  

MrJesus: Property tax on my $345k (purchased price, anyway) house in SC: $1280/yr. Actually went DOWN last year.

Property tax of equivalent in NJ? $15,000/yr.

Anyone who is willing to add >$1000/yr onto their mortgage is insane. Especially after Corzine got rid of the property tax rebates years ago and you can bet your ass Christie and his successors will not be restoring it.


Funny.  $372k in assessment, just hit $8k in property taxes this year.  What idiot town were you using as an "average" or "guess" at the tax rate?  The one I live in is in the top 1/3rd of property tax rates for the state, so either you were insisting on living someplace very expensive (yes, there are towns above 3% property tax) or you are being a bit disingenuous.

/Been living in NJ for a long time
//Yes, property taxes suck but we don't need to exaggerate how much they suck
 
2013-08-21 12:30:09 PM  
... joining the other 2 in 4 that never left and the remaining 1 in 4 that fled the state the moment they could.
 
2013-08-21 12:32:23 PM  

Lawnchair: On the other side, though, moving shouldn't be so hard.


I'm thinking of the costs, not the actual 'moving' part.   I moved from PA to CA.  Moving was fun for me and yes, mostly everything fit in a car.  But between gas, food and lodging, moving from one coast to another was an expensive trip.  Not to mention having the necessary funds to set up house in the new area.  That was actually more expensive than the drive and it used up all of my savings.
 
2013-08-21 12:35:21 PM  

raerae1980: thurstonxhowell: raerae1980: How can a student just pick up and move?

Considering our hypothetical person has just ceased to be a student, the answer is "pick up, then move". It's not hard.

Based on this article, it would appear that many 'young adults' are finding it hard to 'pick up and move'.

I'm assuming many of those young adults were students at college.  *shrugs*


My old man was telling me about this kid in my hometown.  He graduated last year from Purdue with a CS degree, but he can't find a job.  One of his requirements is that said job be close to home in rural Indiana.  I'm guessing it's going to be a while before Silicon Valley packs up and moves to Silicon Cornfield.
 
2013-08-21 12:37:41 PM  
But, yeah, the Jersey taxes thing.  Take my grandparents' (still in the family) house in Kearny, NJ.  It's a whatevs kinda house in a not-truly-awful neighborhood in a really pretty convenient area (anywhere you can see the Manhattan skyline is pretty darned close) and okay transit.  Not midwest cheap but not Australia or Vancouver-crazy list prices... probably $230-240k for said meh 3/1.5 house.

But the taxes.  $9500 a year.  $775 a month.  Again, for a $240k house, a 30-year mortgage payment isn't much over $1000.  The uncle I have living there, in a 'paid off' house, pays about the same in taxes alone as I pay in mortgage/tax/insurance for a similar-sized midwestern house.  Bonkers.

I know it's my middle-aged Republican coming through, but if Christie could really wave a magic wand over some of the huge legacy costs (pensions, mafioso state contracts, etc) and bring the taxes into line, places like Kearny and Lyndhurst and Clifton could easily become hipsters-with-baby-strollers kinds of places.  Maybe even Elizabeth or the Oranges.
 
2013-08-21 12:40:08 PM  

raerae1980: thurstonxhowell: raerae1980: How can a student just pick up and move?

Considering our hypothetical person has just ceased to be a student, the answer is "pick up, then move". It's not hard.

Based on this article, it would appear that many 'young adults' are finding it hard to 'pick up and move'.

I'm assuming many of those young adults were students at college.  *shrugs*


If there's not a job for you where you are, then you're finding it hard to stay where you are. You might as well look for a job elsewhere and find it hard to move. At which point you'll find that life is hard, but that doesn't excuse not trying.
 
2013-08-21 12:56:08 PM  

Rapmaster2000: raerae1980: thurstonxhowell: raerae1980: How can a student just pick up and move?

Considering our hypothetical person has just ceased to be a student, the answer is "pick up, then move". It's not hard.

Based on this article, it would appear that many 'young adults' are finding it hard to 'pick up and move'.

I'm assuming many of those young adults were students at college.  *shrugs*

My old man was telling me about this kid in my hometown.  He graduated last year from Purdue with a CS degree, but he can't find a job.  One of his requirements is that said job be close to home in rural Indiana.  I'm guessing it's going to be a while before Silicon Valley packs up and moves to Silicon Cornfield.


Depending on how he wants to define "close to home" (ie: "I can drive down for major holidays" vs. "I can crash on Dad's couch"),  Detroit Metro's offering $60K + bennies for good CS grads.  Go live in the affluent burbs of Oakland County, be a bit boring, and pocket $20K/year without roommates and before the 60-100% salary increase he can command within 5 years.

/To put this into perspective, SF was offering $70K, and Chicago was offering $40K.  Detroit is overpaying for talent right now.
//And then Madison, WI was offering $90K, but holy fark, was that a career-killer.
 
2013-08-21 12:57:42 PM  

MadHatter500: MrJesus: Property tax on my $345k (purchased price, anyway) house in SC: $1280/yr. Actually went DOWN last year.

Property tax of equivalent in NJ? $15,000/yr.

Anyone who is willing to add >$1000/yr onto their mortgage is insane. Especially after Corzine got rid of the property tax rebates years ago and you can bet your ass Christie and his successors will not be restoring it.

Funny.  $372k in assessment, just hit $8k in property taxes this year.  What idiot town were you using as an "average" or "guess" at the tax rate?  The one I live in is in the top 1/3rd of property tax rates for the state, so either you were insisting on living someplace very expensive (yes, there are towns above 3% property tax) or you are being a bit disingenuous.

/Been living in NJ for a long time
//Yes, property taxes suck but we don't need to exaggerate how much they suck


Not exaggerating or being disingenuous. This wasn't even somewhere fancypantsy like Bernards or Rumson. It was a small town out in middle of nowhere Sussex County (around Lafayette IIRC).

I can come up with similar examples elsewhere if you'd like.
 
2013-08-21 01:24:10 PM  
 
2013-08-21 01:43:38 PM  
I'd say it probably has something to do with jobs requiring an MBA that pay $27k/year for 60 hr work week while the price of everything else continues to rise.
 
2013-08-21 02:01:08 PM  

moefuggenbrew: I'd say it probably has something to do with jobs requiring an MBA that pay $27k/year for 60 hr work week while the price of everything else continues to rise.


Thank you. I have a good job right now but I hate it, so I've been looking at job postings every week. The requirements I see on some of these job listings are hilarious! They want a BA/MA, 5+ years experience, long hours, unpredictable schedules,  etc....starting pay? $10. Are you farking kidding me?
 
2013-08-21 03:20:25 PM  
my 1500+ sq ft townhouse in central NJ is worth ~$270k.  My taxes are around $5500 a year.  small price to pay to live in one of the most affluent...and smartest...states in the country, with easy access to two major metro areas, mountains, forests, beaches, farms, and a truly diverse ethnic demographic.  finding decent ethnic food in the midwest or the south is a disaster.
 
2013-08-21 03:59:21 PM  
The libs will flee to the South like they always do and try to fark it up too. Like they always do. They are a cancer.
 
2013-08-21 04:08:48 PM  
I understand they moved out when they heard that moving up means getting a house in Hackensack.
 
2013-08-21 04:16:58 PM  

MadHatter500: MrJesus: Property tax on my $345k (purchased price, anyway) house in SC: $1280/yr. Actually went DOWN last year.

Property tax of equivalent in NJ? $15,000/yr.

Anyone who is willing to add >$1000/yr onto their mortgage is insane. Especially after Corzine got rid of the property tax rebates years ago and you can bet your ass Christie and his successors will not be restoring it.

Funny.  $372k in assessment, just hit $8k in property taxes this year.  What idiot town were you using as an "average" or "guess" at the tax rate?  The one I live in is in the top 1/3rd of property tax rates for the state, so either you were insisting on living someplace very expensive (yes, there are towns above 3% property tax) or you are being a bit disingenuous.

/Been living in NJ for a long time
//Yes, property taxes suck but we don't need to exaggerate how much they suck


This.  I live in a very nice section of Toms River.  Been here more than 20 years.  Property taxes on my 3 bedroom ranch on 1/3rd acre of property are $4100/year.  Bought it in the 1986 for $163.5.  Could sell it tomorrow for $250K.  Funny how everybody likes to hate on NJ, yet it's one of the most densely populated states in the nation.  Guess it doesn't hurt that where we are, we're 90 minutes from both Philly and NYC.
 
2013-08-21 05:24:52 PM  
Just like their distant Italian relatives back in Europe.
 
2013-08-21 05:57:13 PM  
rugman11: Thank you. That was a great read. I had heard that large extended families had shared houses especially in the first part of the 20th century. I know many European (especially Jewish and Italian immigrants) would all occupy a large home or crowd into a small tenement. As different uncles, cousins, children, grandparents arrived, the family's patriarch would help to arrange work, apprenticeships and jobs. There weren't nearly as many options for retired and elderly family members (i.e. nursing homes, assisted-living centers), so 'homelife' was literally cradle to grave care.  In my own personal experience My wife's family are all Cajun Catholic, and large extended families had always been the norm. In some cases, one the youngest daughters (especially if unmarried) would often assume the role of 'nurse', providing care for older parents and grandparents. I know several of my friends that have '20-somethings' still living at home even after graduation, quitting school, or never progressing past high school. Unpaid student loan debt, much tougher job marker, increased unemployment, the recession, and increasing housing/insurance/utility costs has made it MUCH harder for them to 'get their own place'. Interesting that even with all these conditions, there's only about 5% change in the historic numbers. That sure makes the 25% quoted in the article, seem a lot more in line with traditional results. Again, 'thank you'.
 
2013-08-22 12:45:05 PM  

thurstonxhowell: raerae1980: thurstonxhowell: raerae1980: How can a student just pick up and move?

Considering our hypothetical person has just ceased to be a student, the answer is "pick up, then move". It's not hard.

Based on this article, it would appear that many 'young adults' are finding it hard to 'pick up and move'.

I'm assuming many of those young adults were students at college.  *shrugs*

If there's not a job for you where you are, then you're finding it hard to stay where you are. You might as well look for a job elsewhere and find it hard to move. At which point you'll find that life is hard, but that doesn't excuse not trying.


Well isn't this article timely?

"Lack of mobility is hardly the cause of macroeconomic distress in the United States. But it's not helping. And it turns out that the population has grown more moving-averse over time. This aversion appears to be particularly concentrated among the native-born working class and especially men-not coincidentally the precise group that has suffered the most severe downward pressure on wages.

But the existence of good reasons not to move doesn't explain the decline in mobility. Back in 1985 over 20 percent of the population moved. That number fell steadily to 11.6 percent in 2011 before ticking back up to 12 percent last year. What's more, even if you just look at interstate moves, a lot of the shifting doesn't appear to be related to a search for employment. New York to Florida (presumably retirees) leads the Census Bureau's list of the 10 most common state-to-state moves. None of the 10 lowest-unemployment states are destinations of the top 10 interstate moves, and none of the five highest-unemployment states are departure points for the top 10 interstate moves."
 
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