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(BBC)   One in four 26-year-olds live with their parents, the other three plan to move back in before they turn 30   (bbc.co.uk) divider line 94
    More: Fail, Office for National Statistics, research officer, youths, parents  
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1161 clicks; posted to Geek » on 10 Feb 2014 at 9:23 AM (44 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-02-10 09:28:05 AM  
So, my fellow Farkers - infrom me of the One, Single, Solitary cause of this phenomenon! Being a complex social manifestation, I'm sure it can be easily boiled down to one!

I think it's all because of  (spins "Wheel of Aphorisms") - The Boomers!

Your results may vary.
 
2014-02-10 09:29:10 AM  
also with kids?
 
2014-02-10 09:30:47 AM  

jso2897: So, my fellow Farkers - infrom me of the One, Single, Solitary cause of this phenomenon! Being a complex social manifestation, I'm sure it can be easily boiled down to one!

I think it's all because of  (spins "Wheel of Aphorisms") - The Boomers!

Your results may vary.


OBAMA!!!!!!
 
2014-02-10 09:33:52 AM  

jso2897: So, my fellow Farkers - infrom me of the One, Single, Solitary cause of this phenomenon! Being a complex social manifestation, I'm sure it can be easily boiled down to one!

I think it's all because of  (spins "Wheel of Aphorisms") - The Boomers!

Your results may vary.


Yes, I'm a boomer and I selfishly admit my refusal to drop dead (in order to provide a job opportunity for one of them selfie-taking slackers in the coffee shop).
I think I might have instigated political instability in South America as well.
 
2014-02-10 09:35:48 AM  
The rent is too damn high!!
 
2014-02-10 09:37:23 AM  

Half Right: The rent is too damn high!!


Couldn't you like get a third job?
 
2014-02-10 09:39:23 AM  

Half Right: The rent is too damn high!!


Obviously, it is part of the problem, but why does it happen?  I mean, if we believe the republican derp, there's some sort of supply and demand reason, but I suspect because real estate is too cheap to just hold without using, meaning the wealth inequality problem manifests in extortionate prices.
 
2014-02-10 09:41:09 AM  
I am waiting for the boomers to start dying off to buy a house. When that happens, they will be dirt cheap
 
2014-02-10 09:46:29 AM  
That would be progress in Italy.
 
2014-02-10 09:52:22 AM  

machoprogrammer: I am waiting for the boomers to start dying off to buy a house. When that happens, they will be dirt cheap


I wonder what will happen if or when the baby boomers discover a way to live to 120 0r 140, then they'll never retire or leaves homes for market.

I imagine the generations underneath would eventually become restless and less prone to discussion.
 
2014-02-10 09:55:18 AM  
Who knew it was hard to buy a house while already in debt 6 figures?
 
2014-02-10 09:58:27 AM  
It's probably hard to point at any one factor as a cause to this. I am one of the few that had to move back in with my parents because I was laid off and couldn't afford rent along with my other bills while on unemployment. Thanks to student loan debt, I'll probably never have a mortgage, or at least not one without a ridiculous rate. I'll probably be lucky to get an apartment on my own once I get back on my feet. I imagine a majority of those people ran into one many variances of this same scenario, while only a small minority are due to "millennial entitlement" or whatever they want to try and call it.
 
2014-02-10 09:58:57 AM  
I pull in 45k a year on average.  The housing market in my city is to the point that new homes price in the 350k (in areas developed away from the center) while depending on the area you are paying 200k + for a 100 year old home with galvanized pipes, and knob and tube wiring.

Thanks to the bubble bursting in the US the requirements went back up to 10% for first home buyer at 25 years not the 30 it was.

/continues to rent.
 
2014-02-10 10:03:56 AM  

machoprogrammer: I am waiting for the boomers to start dying off to buy a house. When that happens, they will be dirt cheap


You'll also get a great deal on a low mileage harley with lots of custom work.
 
2014-02-10 10:05:32 AM  

ikanreed: Half Right: The rent is too damn high!!

Obviously, it is part of the problem, but why does it happen?  I mean, if we believe the republican derp, there's some sort of supply and demand reason, but I suspect because real estate is too cheap to just hold without using, meaning the wealth inequality problem manifests in extortionate prices.


You might be surprised, actually.  In the UK property taxes are capped at just over £2,500 and there is no surcharge on unoccupied properties (cf. France, which levies a 40% surcharge on the ordinary ad valoremtax for non-occupied properties), so in London there are thousands, maybe tens of thousands of apartments and houses that are virtually never occupied.  Wealthy foreigners buy them as investments because the Pound Sterling is stable and there's a fair amount of liquidity in the property market, so it's great for parking cash that you don't want to risk keeping in a domestic bank.  Presumably there are tax advantages, as well.  And also, there's a lot of money of questionably-legal provenance being funnelled through the housing market as well, no doubt because of that liquidity.

Central London is being hollowed out because of it - there are portions of Westminster and Kensington where the buildings are in pristine condition but there is otherwise no sign of human habitation - entire blocks without seeing so much as a parked car or a trash can set out on the curb.  Walking around Belgravia, for instance, is like being on the set of 28 Days Later.
 
2014-02-10 10:07:02 AM  

toomuchwhargarbl: machoprogrammer: I am waiting for the boomers to start dying off to buy a house. When that happens, they will be dirt cheap

You'll also get a great deal on a low mileage harley with lots of custom work.


and a nice buick(might have to remove the Romney or Mcain bumper sticker though).
 
2014-02-10 10:18:07 AM  
Boomer here; who lives next door to Boomers.  Their 2 sons spent most of their 20's still living at home after college, and all I could think was "what a waste of your youth, young dudes."  Never told them to get off my lawn, though.

/they bloody well knew better
 
2014-02-10 10:20:27 AM  
Whenever I hear these kinds of stats, I always wonder: do the current however-you-label-them twentysomethings just have much better relationships with their parents, compared to most Gen-Xers and older?

Because if you'd tried to force me, or most of my age-group cohort that I know, to live full time with the parents at that age?  It'd have been about a month before one of us had tried to stab the other in the head over pointless argument #46742.
 
2014-02-10 10:20:41 AM  

Robo Beat: You might be surprised, actually.


I understood everything you said but this.  Why would I be surprised at those consequences?
 
2014-02-10 10:36:57 AM  
Never quite understood our culture's weird insistence that someone who doesn't move out of their parents' house the millisecond they turn 18 is a loser.  I mean, I get that some people want to move out as soon as they can because of they don't get along with their parents, but viewing someone who gets along with their parents as having failed at life is just bizarre.
 
2014-02-10 10:44:00 AM  

jso2897: So, my fellow Farkers - infrom me of the One, Single, Solitary cause of this phenomenon! Being a complex social manifestation, I'm sure it can be easily boiled down to one!

I think it's all because of  (spins "Wheel of Aphorisms") - The Boomers!

Your results may vary.


FTA:The ratio of house prices paid by first time buyers to their annual incomes has risen from 2.7 to 4.47 in the period from 1996 to 2013, she added.

If I had to limit myself to one solitary reason, it would be this one.....
 
2014-02-10 10:47:07 AM  

walktoanarcade: <strong><a href="http://www.fark.com/comments/8136224/89189811#c89189811" target="_blank">machoprogrammer</a>:</strong> <em>I am waiting for the boomers to start dying off to buy a house. When that happens, they will be dirt cheap</em>

I wonder what will happen if or when the baby boomers discover a way to live to 120 0r 140, then they'll never retire or leaves homes for market.

I imagine the generations underneath would eventually become restless and less prone to discussion.


You need to factor in banks. Banks will let those suckers sit until they rot. Sure some areas where the population dwindles they might come down, but by then it will look third world and all the copper wiring will be stripped.
 
2014-02-10 10:49:28 AM  
I was out of the house at 23. With my own health insurance. Until I got fired. Then I had none. Until I was 28.
 
2014-02-10 10:51:49 AM  
I'm 25, I've been out of the house since I left for college at 18, but a good number of my friends do or until recently did move back in with their parents. Seems to generally be a combination of student loan debt combined with poor job acquisition (even for the smarter engineers who expected to breeze into a job; I suspect part of this is interviewing poorly), desire to save money and lack of shame about saving money moving in with the folks, and staying in their hometown anyway so it's sort of like High School Round 2 in terms of social life.

I like my autonomy though, but I did get lucky in some ways.
 
2014-02-10 10:58:32 AM  
Why aren't these kids borrowing money from their parents in order to start their own businesses?
 
2014-02-10 11:07:53 AM  

jso2897: So, my fellow Farkers - infrom me of the One, Single, Solitary cause of this phenomenon! Being a complex social manifestation, I'm sure it can be easily boiled down to one!

I think it's all because of  (spins "Wheel of Aphorisms") - The Boomers!

Your results may vary.


Thanks to the economic crash, some of us had a hell of a time getting a career started. Particularly one that would allow us to pay off our student loans and afford rent.

CSB:
I have an advanced degree in chemistry and have been laid off (not fired) from 5 full-time, salaried positions. In the past 7 years since leaving school I have had one position that lasted longer than 6 months before a layoff or shutdown.
 
2014-02-10 11:25:59 AM  
Maybe it has something to do with wage stagnation? In 1968 it may have been possible to move out at 18-22 and buy a home with a minimum wage job. Now you couldn't rent a studio on your own for less $10/hr or a full and part time job. Do the math or study it out. It's not the boomers or the Xers, it's wage stagnation.

/thanks 1%ers, you dicks
 
2014-02-10 11:50:51 AM  

mutterfark: Maybe it has something to do with wage stagnation? In 1968 it may have been possible to move out at 18-22 and buy a home with a minimum wage job. Now you couldn't rent a studio on your own for less $10/hr or a full and part time job. Do the math or study it out. It's not the boomers or the Xers, it's wage stagnation.

/thanks 1%ers, you dicks


Probably a lot of this.

It used to be that the man worked and the wife stayed home, not just because of 1950's/60's culture/sexism, but because you could AFFORD to do so. Nowadays, you pretty much need two incomes to afford a decent place, whether renting or owning. I lived with my fiancee, then a friend, then a newer, shinier fiancee because I've never been able to afford an apartment on my own. The only family I knew with a stay-at-home mom had a father making six figures (plus escaped-from-eastern Europe spending habits).

/the degree in medieval poetry probably isn't helping some people either
 
2014-02-10 12:01:11 PM  
Of the people I know still living at home:

One is just straight up lazy. Went to college, accrued some debt, never graduated. Skates by playing videogames all day.

One is paying off students loans as fast as possible. She's getting a PhD, so her interest is deferred and she puts all of her rent/living money towards paying them off.

One moved back in with her mother to help the mom out after the mom lost her job. (The mom wouldn't accept a straight monthly allowance from the daughter, but somehow it's OK if the daughter lives at home, pays the mortgage, and buys groceries.)

All three of those people are 27/28 years old.
 
2014-02-10 12:05:25 PM  

TheAlgebraist: jso2897: So, my fellow Farkers - infrom me of the One, Single, Solitary cause of this phenomenon! Being a complex social manifestation, I'm sure it can be easily boiled down to one!

I think it's all because of  (spins "Wheel of Aphorisms") - The Boomers!

Your results may vary.

FTA:The ratio of house prices paid by first time buyers to their annual incomes has risen from 2.7 to 4.47 in the period from 1996 to 2013, she added.

If I had to limit myself to one solitary reason, it would be this one.....


We bought our first home for .98 of our annual income, and it's not because we're rich. It's because we got a cheap-ass hovel that we'll clearly need to leave in ~2-5 years (depending on kids) but in the meantime it will end up much cheaper and much nicer than we could have done in an apartment otherwise. This does require us to be able to sell it for what we bought it for though, so there is an element of risk.
 
2014-02-10 12:30:42 PM  
Kids moving out of their parents home the day they got their first job is a relatively new phenomenon and is akin to vandalizing their financial future.  If you don't have bucket loads of cash to give your kids to help them buy a house then having them live at home is a massive benefit that allows them to save for a deposit and clear off any debts they have in a fraction of the time it would take if they were enriching a landlord.

Fubini: We bought our first home for .98 of our annual income, and it's not because we're rich. It's because we got a cheap-ass hovel that we'll clearly need to leave in ~2-5 years (depending on kids) but in the meantime it will end up much cheaper and much nicer than we could have done in an apartment otherwise. This does require us to be able to sell it for what we bought it for though, so there is an element of risk.


Wait until you discover closing costs and realtor fees.
 
2014-02-10 12:57:53 PM  

kittyhas1000legs: the degree in medieval poetry probably isn't helping some people either


Can we stop trotting out this old tired dog whistle? Thanks.
 
2014-02-10 01:06:20 PM  
Fubini:
We bought our first home for .98 of our annual income, and it's not because we're rich. It's because we got a cheap-ass hovel that we'll clearly need to leave in ~2-5 years (depending on kids) but in the meantime it will end up much cheaper and much nicer than we could have done in an apartment otherwise. This does require us to be able to sell it for what we bought it for though, so there is an element of risk.

This anecdote worthless without (if it has any worth at all) knowing where and when you bought a house.  If you are in the US, it is considerably easier to buy a house for your annual income than if you are in the UK or Canada.  Telling people to buy a cheap house is significantly less helpful if there aren't even any bad houses available for cheap.  For instance, look at what just sold in Toronto (I live just outside Toronto), for $800,000 (basically par with the USD and about a half-million GBP):

http://www.greaterfool.ca/2014/02/03/803000/
 
2014-02-10 01:16:44 PM  
I'm always mystified by stories like this because they are so far outside my experience.

It's not that I hate my mother, but I would -- and I am not kidding, I am not exaggerating -- I would rather be homeless under a bridge than live with her again.

How can you possibly not feel like killing yourself if you're over a quarter-century and still sponging off your parents?  That's so... ewww.  Gross.  That's like, midget-porn gross.

Give me a van down by the river.  That would feel less like failure to me.
 
2014-02-10 01:25:44 PM  

DanInKansas: I'm always mystified by stories like this because they are so far outside my experience.

It's not that I hate my mother, but I would -- and I am not kidding, I am not exaggerating -- I would rather be homeless under a bridge than live with her again.

How can you possibly not feel like killing yourself if you're over a quarter-century and still sponging off your parents?  That's so... ewww.  Gross.  That's like, midget-porn gross.

Give me a van down by the river.  That would feel less like failure to me.


There's no way to criticize this attitude without sounding like someone who lives with their parents, but I can live with people believing that image.  I can't let a dumb point go uncontested.

You've bought into a myth, one created to help the rich stay rich.  One that says that every person in the world is an island, and no one should need or help anyone else.  It's a social poison that only benefits a select few.  I know people who live with their parents while they look for a better job, or don't make enough to move out, thanks to shiatty high rent and terrible low pay.  They aren't hurting they're parents.  They aren't being failures.  They're. Just. Screwed.
 
2014-02-10 01:35:06 PM  

ikanreed: There's no way to criticize this attitude without sounding like someone who lives with their parents, but I can live with people believing that image.  I can't let a dumb point go uncontested.

You've bought into a myth, one created to help the rich stay rich.  One that says that every person in the world is an island, and no one should need or help anyone else.  It's a social poison that only benefits a select few.


To add to this:

Rich people tend to have absolutely no hesitation about giving their kids major boosts - paying their way through college, matching income from part time jobs, pulling strings to get their kids great internships, gifting their kids their first car, helping them make a 20% deposit on their first home, contributing to their grand kid's college funds and so on.

Only poor and middle class people get told that they need to let their kids flail around on their own.
 
2014-02-10 01:38:32 PM  
I'm 26 and just moved out. Into a shiatty house with very high rent. With 2 roommates.
 
2014-02-10 01:53:50 PM  
Ive been on my own since I was 16. Chased a dollar far and wide. I dont get why having your kids hang around is actually a bad thing. People used to by a home with the intention of actually housing a family. The old timers the little kids even the stupid ones. People these days have an attitude of "your 18 your outta the house"

sure having grown ass adults hanging around can be annoying. At the same time eventually your going to get old, very old. Would most people not want the younger generation close by to help care for you as you slid towards being an old ass invalid.
 
2014-02-10 02:04:21 PM  

machoprogrammer: I am waiting for the boomers to start dying off to buy a house. When that happens, they will be dirt cheap


What happens if they rise as GOP/Libertarian zombies?.
 
2014-02-10 02:14:24 PM  
www.ingeniouspress.com
Yes, it really is that simple. Of course WHY it's too damn high is much more complex and difficult to solve...
 
2014-02-10 02:26:09 PM  

Trocadero: Yes, it really is that simple. Of course WHY it's too damn high is much more complex and difficult to solve...


Guillotines?

//Simple, obvious, and wrong, I know. I know.
 
2014-02-10 03:15:54 PM  

walktoanarcade: machoprogrammer: I am waiting for the boomers to start dying off to buy a house. When that happens, they will be dirt cheap

I wonder what will happen if or when the baby boomers discover a way to live to 120 0r 140, then they'll never retire or leaves homes for market.

I imagine the generations underneath would eventually become restless and less prone to discussion.


A surprisingly competent book about the cure for cancer and what that would do. Kind of a SPOILER: put the Boomers on giant ships for the rest of their lives.

ecx.images-amazon.com
 
2014-02-10 03:22:13 PM  

ikanreed: There's no way to criticize this attitude without sounding like someone who lives with their parents, but I can live with people believing that image.  I can't let a dumb point go uncontested.


You don't sound like someone who lives with his parents, you just sound like someone who doesn't like to work and doesn't like it when other people do.

/The rich!
//It's always their fault!
///Even in a fiat currency system where the supply of money is finite but unbounded.
 
2014-02-10 03:37:45 PM  

DanInKansas: ikanreed: There's no way to criticize this attitude without sounding like someone who lives with their parents, but I can live with people believing that image.  I can't let a dumb point go uncontested.

You don't sound like someone who lives with his parents, you just sound like someone who doesn't like to work and doesn't like it when other people do.

/The rich!
//It's always their fault!
///Even in a fiat currency system where the supply of money is finite but unbounded.


Ah, the ever popular You're Just Lazy and Jealous® defense.  Not at all surprising coming from someone who equates living with one's parents as failure.  Some notable "failures":

Jennifer Lawrence - Still living with her parents
Steve Jobs - lived with parents until he was 21
Alexander Graham Bell - Moved out at 25
Lou Gehrig - Lived with his mom until he was 30

But hey, you keep telling us about how living with one's parents as an adult makes one a loser.
 
2014-02-10 03:57:55 PM  

DanInKansas: You don't sound like someone who lives with his parents, you just sound like someone who doesn't like to work and doesn't like it when other people do.

/The rich!
//It's always their fault!
///Even in a fiat currency system where the supply of money is finite but unbounded.


Okay, let's try a different angle:  What advantage is there to striking out on your own as early as possible and trying to climb through school and housing with very little experience or capabilities vs staying within the family unit and striking out when your financial capabilities line up with your priorities?  What benefits come from toiling away at grunt-work jobs to pay for something that your parents could easily cover so you can focus on school and thus get into the good part of life much earlier, without a large debt that vampires money off to some bank or the other pitfalls of trying to do it yourself?

Is it smug self-satisfaction?  That's about the only plausible reason anyone would do such a stupid thing if they've got safer and smarter alternatives.  I can understand if you hate your parents and have daddy issues or what not, but the smart move is as a family stick to your strengths, help each other do things for one another that benefit the whole.
 
2014-02-10 04:06:09 PM  

DanInKansas: You don't sound like someone who lives with his parents, you just sound like someone who doesn't like to work and doesn't like it when other people do.


I'm also not the only one posting on Fark between 9 and 5, if you catch my drift.
 
2014-02-10 04:09:58 PM  
DanInKansas:
///Even in a fiat currency system where the supply of money is finite but unbounded.

Also, re-reading this, holy shiat do you ever not understand finance.

I'm favoriting you with "not allowed to talk about money."   Jesus, you're like a 10 year old child, who read one libertarian rant and went "me too".
 
2014-02-10 04:36:21 PM  

ikanreed: DanInKansas: You don't sound like someone who lives with his parents, you just sound like someone who doesn't like to work and doesn't like it when other people do.

I'm also not the only one posting on Fark between 9 and 5, if you catch my drift.


What I want to know is why the thought of living with his mother makes him think of midget porn.
 
2014-02-10 05:48:30 PM  

BumpInTheNight: DanInKansas: You don't sound like someone who lives with his parents, you just sound like someone who doesn't like to work and doesn't like it when other people do.

/The rich!
//It's always their fault!
///Even in a fiat currency system where the supply of money is finite but unbounded.

Okay, let's try a different angle:  What advantage is there to striking out on your own as early as possible and trying to climb through school and housing with very little experience or capabilities vs staying within the family unit and striking out when your financial capabilities line up with your priorities?  What benefits come from toiling away at grunt-work jobs to pay for something that your parents could easily cover so you can focus on school and thus get into the good part of life much earlier, without a large debt that vampires money off to some bank or the other pitfalls of trying to do it yourself?

Is it smug self-satisfaction?  That's about the only plausible reason anyone would do such a stupid thing if they've got safer and smarter alternatives.  I can understand if you hate your parents and have daddy issues or what not, but the smart move is as a family stick to your strengths, help each other do things for one another that benefit the whole.


I can think of a lot of reasons good reasons, including, but not limited to:


1. You get to learn how to handle life's stresses and responsibilities. At home, parents often take care of a lot of little details that you may not fully understand or even know about. By staying at home, you don't learn to take care of a household.
2. You can prove to your SO or a future SO that you are capable of taking care of yourself and have the potential to take care of a family. By staying at home, you show people that you are incapable of supporting others.
3. You are finally able to truly fail. Parents instinctively try to protect their children from harm, and so, an adult living under the same roof as their parents will not be allowed to fail as often or as deeply. It is in failure that we learn and grow. By staying at home, you risk stagnation.

That said, I think it's pretty overly-simplistic to immediately brand anyone that stays at home as a loser. People's situations can vary pretty greatly, and staying at home for a while may, indeed, be the best option. However, to say that there are no positives to living on your own, even when it's riskier, is just plain wrong. You have to consider more than simple finances.

You may not like the way our society functions, but whining about it won't change the world you live in.
 
2014-02-10 05:58:18 PM  

BumpInTheNight: I can understand if you hate your parents and have daddy issues or what not, but the smart move is as a family stick to your strengths, help each other do things for one another that benefit the whole.


For you that's the smart move. For me it's the ooky-creepy move.

Let's take away the economics since we won't ever agree on that.  Have you ever seen a juvenile bird following mama bird around with an open mouth?  "Teenager" birds will hop after mama bird, demanding to be fed, even though they can fly and find their own worms. Eventually they leave the nest and go find their way.

Some people fervently believe a four-year old should be able to breast feed if she/he wants because weaning is traumatic. I will look at that and say "gross, kids with teeth and speech should be eating their own food."

Big believers in "cosleeping" think a three-year old should be allowed to sleep in the parental bed because attachment.  For me it sounds like three years without sex.

The years between, give or take, 13 and 19, are stormy for a good reason: it's the time of individuation. It's the time you start to test your limits, look at what you can do, and resent the shiat out of your stupid parents because they just don't understand.

There really is nothing like that time between 18 and 26. It's the time when you can do your best work, really establish who you are as your own person.  I, personally, don't see how you can do that when you are still under the shadow of your parents.  How can you be fully adult, fully yourself, fully realized, when you are still depending on your parents for your living?

Yes, I think it is absolutely better to work a scut job and live in a singlewide in the trailer park than live with your parents.  It's time to take the training wheels off your bicycle and get to know yourself and what you're about.

If that's too scary for you, or sounds like too much work, well, there's absolutely no law against living with mom and dad as long as they'll have you.
 
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