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Why Are So Many Young Adults Still Living with Mom and Dad?
Takeaways:
- Did you know that half of young adults are living with their parents today? That's wild!
- In the past, living with family was about survival; now it's all about budgeting and math.
- Today's housing market is a real head-scratcher, where independence feels like a luxury item.
- Rent is eating up 60% of our incomes, making it super tough to move out on your own.
- Three generations under one roof used to be the norm, but who knew it would be back?
- We thought affordable housing was here to stay, but it turns out we were just dreaming.
Links referenced in this episode:
Transcript
Speaker A:
This is the Daily Note.
Speaker A:I'm James A.
Speaker A:Brown.
Speaker A:Half of young adults live with their parents.
Speaker A:Now, that's Great Depression levels.
Speaker A:But here's what's different.
Speaker A: In: Speaker A:Today it's about math.
Speaker A:When rent costs 60% of our incomes and starter homes require giant down payments, moving out is nearly impossible.
Speaker A:We've created a system where independence has become a luxury good.
Speaker A:Three generations under one roof used to be normal.
Speaker A:Then we had this brief historical moment, maybe 50 years, where everyone could afford their own place.
Speaker A:We assumed it was permanent.
Speaker A:And like so many other of our assumptions, we're wrong about that, too.
Speaker A:So what do you think?
Speaker A: -: Speaker A:On that note, I'm James A.
Speaker A:Brown, and as always, be well.
