“The current housing market has many Americans making adjustments to their living situations, including relocating to less expensive cities and even moving back in with their families,” said Courtney Alev, Intuit Credit Karma’s consumer financial advocate.
“their own space” I think this is the one issue with the post for (or mindset) of young adults. Your first place on your own isn’t fancy and you have roommates. Even in some cases you’re not only apartments mates but physical roommates. My initial post college/post parents home was an old house far from my work (1:15 commute each way). There were 6 of us in there which made it manageable.
Young adults trying to come out and get a 1BR (not even studio) in a major metropolitan area are delusional
I’m not saying Jones/rents are priced correctly, but I see it a lot is the idea that the first home should be MY space in a beautiful downtown is delusional
LOL! But, yet, we’re told the economy is doing well. Sure. High housing costs and worsening purchasing power.
Who owns that failure?
I call bullshit! We have a generation that wants to spend their years salary “experiences”. There’s plenty of great paying jobs out there but as my 29 year old living at home on unemployment says, “I’m enjoying my vacation!” WTF is that. Might as well enjoy it now because at 30 with no career and no education your ass is going to be working until your 85 to retire. Now that’s not every 29 year old I have 3 boys who all are in the military and going to college while this one plays I have anxiety BS.
How about we blame the government for letting idiots get subsidized loans?
Boomers facing the repercussions they created.
This is literally it. I live in a formerly LCOL area in the US (still not a major city) and now if you want to own any sort of house you need to be prepared to spend half a million. There are so many homes here where 3 generations are living together, and it’s not just a cultural thing either as some families I know doing that are white.
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These days, [housing affordability](https://www.cnbc.com/real-estate/) is a struggle for nearly everyone.
But for young adults just starting out, soaring [home prices](https://www.cnbc.com/real-estate/) and [sky-high rents](https://www.cnbc.com/2022/08/23/apartment-rents-are-finally-easing-after-an-incredible-run-heres-how-to-play-it.html) have become one of the greatest obstacles to making it on their own.
Nearly one third, or 31%, of Generation Z adults live at home with parents because they can’t afford to buy or rent their own space, according to a recent report by [Intuit Credit Karma](https://www.creditkarma.com/about/commentary/nearly-a-third-of-gen-z-live-at-home-while-others-struggle-to-afford-rent) that polled 1,249 people ages 18 and up. *(*Gen Z is generally [defined](https://www.pewresearch.org/short-reads/2019/01/17/where-millennials-end-and-generation-z-begins/) as those born between 1996 and 2012, including a cohort of teens and tweens.)
“The current housing market has many Americans making adjustments to their living situations, including relocating to less expensive cities and even moving back in with their families,” said Courtney Alev, Intuit Credit Karma’s consumer financial advocate.
Overall, the number of households with two or more adult generations has been on the rise for years, according to a [Pew Research Center report](https://www.pewresearch.org/social-trends/2022/03/24/financial-issues-top-the-list-of-reasons-u-s-adults-live-in-multigenerational-homes/). Now, 25% of young adults live in a multigenerational household, up from just 9% five decades ago.
More: [https://www.cnbc.com/2024/01/11/high-housing-costs-have-kept-31percent-of-gen-z-adults-living-at-home.html](https://www.cnbc.com/2024/01/11/high-housing-costs-have-kept-31percent-of-gen-z-adults-living-at-home.html)
“their own space” I think this is the one issue with the post for (or mindset) of young adults. Your first place on your own isn’t fancy and you have roommates. Even in some cases you’re not only apartments mates but physical roommates. My initial post college/post parents home was an old house far from my work (1:15 commute each way). There were 6 of us in there which made it manageable.
Young adults trying to come out and get a 1BR (not even studio) in a major metropolitan area are delusional
I’m not saying Jones/rents are priced correctly, but I see it a lot is the idea that the first home should be MY space in a beautiful downtown is delusional
LOL! But, yet, we’re told the economy is doing well. Sure. High housing costs and worsening purchasing power.
Who owns that failure?
I call bullshit! We have a generation that wants to spend their years salary “experiences”. There’s plenty of great paying jobs out there but as my 29 year old living at home on unemployment says, “I’m enjoying my vacation!” WTF is that. Might as well enjoy it now because at 30 with no career and no education your ass is going to be working until your 85 to retire. Now that’s not every 29 year old I have 3 boys who all are in the military and going to college while this one plays I have anxiety BS.
How about we blame the government for letting idiots get subsidized loans?
Boomers facing the repercussions they created.
This is literally it. I live in a formerly LCOL area in the US (still not a major city) and now if you want to own any sort of house you need to be prepared to spend half a million. There are so many homes here where 3 generations are living together, and it’s not just a cultural thing either as some families I know doing that are white.