Wednesday, May 25, 2016

Millenials Living With Their Parents Longer and Longer and Longer......Yay Obama recovery.

While the CEO's make lots and lots and lots of money......The "Young adults" still live with their parents for a longer period of time than anytime in over 100 years.
That Obama recovery really is something special. He really looked after the little guy. "Yes we can"
For the first time on record, living with parents is now the most common arrangement for people ages 18 to 34, an analysis of census data by the Pew Research Center has found.
(A proud legacy for Obama)
Nearly one-third of millennials live with their parents, slightly more than the proportion who live with a spouse or partner. It's the first time that living at home has outpaced living with a spouse for this age group since such record-keeping began in 1880.
(WOW 1880...remember 1880....Yeah me neither)
The remaining young adults are living alone, with other relatives, in college dorms, as roommates or under other circumstances.
The sharp shift reflects a long-running decline in marriage, amplified by the economic upheavals (All the jobs are in China, and India, and Mexico) of the Great (self inflicted) Recession.
(If you are rich there was no recession of any kind. You were rich before the great recession and you are even richer today)
The pattern may be a contributing factor in the sluggish growth of the U.S. economy, which depends heavily on consumer spending.
(Unemployed people don't buy anything....The genius economists didn't think that far ahead)
With more young people living with their parents rather than on their own, fewer people need to buy appliances, furniture or cable subscriptions. The recovery from the 2008-09 recession has also been hobbled by historically low levels of home construction and home ownership.
As recently as 2000, nearly 43% of young adults ages 18 to 34 were married or living with a partner. By 2014, that proportion was just 31.6%.
(George W Bush and Barack Obama.....Setting the country on an awesome trajectory. Way to go.)
In 2000, only 23% of young adults were living with parents. In 2014, the figure reached 32.1%.
(Have you heard how much richer the rich got in that same time period?)
The proportion of young adults now living with their parents is similar to the proportions that prevailed from 1880 through 1940, when the figure peaked, Pew found. Yet in those decades, the most common arrangement for young adults was living with a spouse rather than with parents.
(Yup Warren Buffett was right....This is the luckiest generation ever.....Sounds pretty lucky to me.)

No comments:

Post a Comment