A symptom of the disaster America calls an economy was revealed in the Pew Research Center’s report which contained information about the number of adults living with their parents. The socially acceptable term is multi-generational households.
Based on comparisons between households from 1970-80 and the past decade provides the dire truth about the loss of the American way of life. In the 1970s approximately 10% of young adults lived with their parents, which means 90% of post-high school adults were able to support themselves outside of their parent’s home.
In the past decade, with fewer living wage jobs available for high school and college graduates supports the Pew Research Center’s findings that in the 18-25 age range more than 70% of young adults are living at home, which means less than 30% are able to make enough money to rent a room outside of their parent’s home.
After college the future still looks bleak with one in five adults in the 25-34 age still living with their parent’s. More than half of those who did manage to move-out report they have taken jobs just to make ends meet, not what they studied or trained to do. More than 50% of adults in this age group also report postponing serious relationships, marriage, parenthood.
While we’d all like to believe the reports that the economy is on the mend, there is no proof to support that claim. We’ll know things are better when young adults can live on their own, college students can pay off loans in a couple years and young couples return to buying homes and starting families.