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Young (American) adults more likely to live with parents than spouses
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BlueMark Offline
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Young (American) adults more likely to live with parents than spouses
Not a surprise to anyone here. Unfortunately the article doesn't break down the numbers by sex.

https://www.apartmentlist.com/rentonomic...household/

Quote:According to a new analysis of U.S. Census data, household composition – the way in which Americans organize themselves into households – is steadily changing.

Young adults are becoming much less likely to share their home with a spouse or children; instead, they are moving back in with parents, or living with roommates and/or unmarried partners.

26-year-olds provide a stark example: 50 years ago, over three-quarters were married and living with their spouse; today, this living arrangement has shrunk to just 24 percent. In 2018, there were 300,000 more 26-year-olds living with parents than spouses.

These trends mean that across the country, the nuclear family household is slowly disappearing. In 2018, the number of nuclear family households was the same as in 1984, when the United States population was 27 percent smaller. Nuclear families are becoming more expensive to maintain, and we see them declining in 20 of the nation’s 25 largest metropolitan areas.

Conversely, it is becoming much more common for multiple family units to live together under one roof. In some metros, these “unrelated” households have more than doubled since the start of the Great Recession.
Social and economic forces are encouraging many Americans – particularly at the lower end of the income distribution – to band together and form larger households in order to afford their preferred housing.

What a man can be, he must be. --Abraham Maslow
10-03-2019 10:33 PM
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Kid Twist Offline
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RE: Young (American) adults more likely to live with parents than spouses
This involves one of the predictions that will likely be apparent in the next decade, that of a big boomer house market without any buyers and with boomers without the funds to make ends meet very easily. Housing costs will be onerous for those that don't have sufficient cash flow, and only wealthier people will be able to buy the markedly reduced in price houses that the boomers will need to sell in order to make ends meet. If pension crises continue and property taxes keep increasing it will only exacerbate the problem. Ironically this might require a desire from parents to bring the kids back home to take care of them. People will continue to move in with each other.

Yet another reason to look below.

Get your passport ready!
(This post was last modified: 10-03-2019 10:41 PM by Kid Twist.)
10-03-2019 10:39 PM
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TigOlBitties Offline
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RE: Young (American) adults more likely to live with parents than spouses
Not only are houses more affordable in rural places or smaller cities, the quality of life can be significantly better. I've recently been in less populated areas of Washington and Colorado, and it's like a different planet compared to Seattle and Denver. Most large cities are overrated. I'd rather enjoy the peace, quiet and clean outdoors. I'd also rather enjoy freedom than live with 99% of American women.
10-03-2019 10:57 PM
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Eazy_E Offline
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RE: Young (American) adults more likely to live with parents than spouses
Men are economically unattractive. Women are physically unattractive. Student loans are a bubble. Housing is in a bubble. There you go.

The housing market will be interesting. In 5-10 years, the boomers will really start to die. That should lead to an oversupply, but millenials don't want to live in the suburbs like their parents did. They want a downtown loft within walking distance of the cowork space and the organic kombucha place they like. The Chinese might still be going full bore, or might not, there's evidence they're slowing down on buying.

That said, the real elephant in the room is nursing home costs. Nursing homes will soak you and murder any inheritance. My grandfather had a little bit of money he piled up plus it helped he was liquid in the Carter years when a savings account paid like 20%. Couple years in a home and that went poof like a fart in the wind. Nursing homes are a wealth transfer scheme. But that's what kids do now. Move away too Millenialville and put their parents in a home and visit once every other year and when their parents die, wonder where all the money went.

So I mean, like literally every other culture on earth, if you wanna keep the family money in the family, you gotta keep the family together. It'll become a bigger thing soon I think.
10-03-2019 11:02 PM
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sanbruno Offline
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RE: Young (American) adults more likely to live with parents than spouses
(10-03-2019 11:02 PM)Eazy_E Wrote:  Men are economically unattractive. Women are physically unattractive. Student loans are a bubble. Housing is in a bubble. There you go.

The housing market will be interesting. In 5-10 years, the boomers will really start to die. That should lead to an oversupply, but millenials don't want to live in the suburbs like their parents did. They want a downtown loft within walking distance of the cowork space and the organic kombucha place they like. The Chinese might still be going full bore, or might not, there's evidence they're slowing down on buying.

That said, the real elephant in the room is nursing home costs. Nursing homes will soak you and murder any inheritance. My grandfather had a little bit of money he piled up plus it helped he was liquid in the Carter years when a savings account paid like 20%. Couple years in a home and that went poof like a fart in the wind. Nursing homes are a wealth transfer scheme. But that's what kids do now. Move away too Millenialville and put their parents in a home and visit once every other year and when their parents die, wonder where all the money went.

So I mean, like literally every other culture on earth, if you wanna keep the family money in the family, you gotta keep the family together. It'll become a bigger thing soon I think.

Modern medicine doesn't allow people to die with dignity. In some cases, you have no choice, unless you are willing to drop your life and care for someone 24hrs a day. I agree nursing homes are bullshit, but I wouldn't ever expect or want my children to pause their lives to come wipe my ass and feed me for possibly several years until I die a pathetic death. I want my loved ones to remember better times.
10-04-2019 01:51 PM
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SomeOneSomeWhere Offline
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RE: Young (American) adults more likely to live with parents than spouses
(10-03-2019 10:39 PM)Kid Twist Wrote:  This involves one of the predictions that will likely be apparent in the next decade, that of a big boomer house market without any buyers and with boomers without the funds to make ends meet very easily. Housing costs will be onerous for those that don't have sufficient cash flow, and only wealthier people will be able to buy the markedly reduced in price houses that the boomers will need to sell in order to make ends meet.

I think the powers that be will swallow up all the housing supply and once everything is owned by various globohomo megacorps they will start with some form of communism where whites will be at the bottom and forced to race mix.
10-04-2019 02:19 PM
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RexImperator Offline
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RE: Young (American) adults more likely to live with parents than spouses
Quote:millenials don't want to live in the suburbs like their parents did. They want a downtown loft within walking distance of the cowork space and the organic kombucha place they like.

Even millennials are moving to the burbs as they age and have kids. American cities are no place to raise a family, unless you are one of the few making enough to afford exclusive private schools.

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10-04-2019 03:16 PM
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kamoz Offline
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RE: Young (American) adults more likely to live with parents than spouses
(10-04-2019 02:19 PM)SomeOneSomeWhere Wrote:  I think the powers that be will swallow up all the housing supply and once everything is owned by various globohomo megacorps they will start with some form of communism where whites will be at the bottom and forced to race mix.

WTF did I just read
10-04-2019 05:01 PM
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d'Aversa Offline
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RE: Young (American) adults more likely to live with parents than spouses
(10-04-2019 01:51 PM)sanbruno Wrote:  Modern medicine doesn't allow people to die with dignity. In some cases, you have no choice, unless you are willing to drop your life and care for someone 24hrs a day. I agree nursing homes are bullshit, but I wouldn't ever expect or want my children to pause their lives to come wipe my ass and feed me for possibly several years until I die a pathetic death. I want my loved ones to remember better times.
I struggle to understand the modern concept of sanctity of human life, where it has to be maintained as long as possible, far past the point of self-sustainability. Ending up like that is my nightmare scenario.
10-04-2019 05:41 PM
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Zenta Offline
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RE: Young (American) adults more likely to live with parents than spouses
(10-03-2019 11:02 PM)Eazy_E Wrote:  That said, the real elephant in the room is nursing home costs. Nursing homes will soak you and murder any inheritance. My grandfather had a little bit of money he piled up plus it helped he was liquid in the Carter years when a savings account paid like 20%. Couple years in a home and that went poof like a fart in the wind. Nursing homes are a wealth transfer scheme. But that's what kids do now. Move away too Millenialville and put their parents in a home and visit once every other year and when their parents die, wonder where all the money went.

So I mean, like literally every other culture on earth, if you wanna keep the family money in the family, you gotta keep the family together. It'll become a bigger thing soon I think.

I deal with this now. My grandma has been in an assisted living apartment for 7 or 8 years now starting on the low end of 3k close to 4k a month now. Luckily insurance reimburses some of this but it is still extremely expensive. I am about to get my mother a 8 hour a day care giver which will be anywhere from 3.5-4k a month as well. Luckily we generate the income to cover this but if you couldn't you would be screwed.

People with no other options will have to live together. That becomes awkward when your parents are separated and all your siblings live out of state with their own lives and not necessarily a good answer however.
10-04-2019 05:52 PM
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Solitaire Offline
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RE: Young (American) adults more likely to live with parents than spouses
(10-04-2019 01:51 PM)sanbruno Wrote:  Modern medicine doesn't allow people to die with dignity. In some cases, you have no choice, unless you are willing to drop your life and care for someone 24hrs a day. I agree nursing homes are bullshit, but I wouldn't ever expect or want my children to pause their lives to come wipe my ass and feed me for possibly several years until I die a pathetic death. I want my loved ones to remember better times.

My present end-of-life plan is to paddle out as far as I can, out into the pretty, vast ocean, and be done with it. If I'm not too addle-minded at that point, of course; there's the rub, yeah? Figuring out oneself when that line is about to be crossed, but not too soon!

Thank goodness my father anticipated all this. He was in the USAF (I might have mentioned this in another post), paid a very modest sum every paycheck for 20-something years into a retirement account which now pays most of the rent for my 81-year-old mother to live in the Bob Hope Village in Shalimar, FLA. It's a beautiful place. She has a one-bedroom apartment for about $280 a month, free lunch every day, lots of activities, buses that take the old folk out to the beach, to Wally-World, Pensacola to visit the mall, Barrancas Cemetery, etc etc. Certainly I have no clue what my brother and I would be doing now for her, if not for my father. He died ages ago, btw - 52 years old, heart disease.
10-04-2019 05:53 PM
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JiggyLordJr Offline
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RE: Young (American) adults more likely to live with parents than spouses
The fact that this is a news story is somewhat disconcerting. For most of human history, families would stick together under one roof, sometimes with multiple generations together. Nowadays it's seen as strange when Milly the Millennial comes back to his family after his useless degree doesn't pan out. Living with the fam well into adulthood is normal, but many parents these days can't wrap their head around it.

As mentioned on another thread, a lot of this is due to the "18 and out" phenomenon, mostly forced upon Millenials by their parents. Expecting someone to move out at 18 is absurd on many logical levels. But given the state of American families these days, it seems that they want to fragment, with family members peppered all over the country. And then they're surprised when they become depressed living alone in their respective studios. Without a strong family unit, you really have nothing. This reason alone is why East Asia will dominate the future - they understand the power of large, intact families.
(This post was last modified: 10-05-2019 01:49 AM by JiggyLordJr.)
10-05-2019 01:46 AM
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Eazy_E Offline
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RE: Young (American) adults more likely to live with parents than spouses
Sure as hell wasn't anything weird about multi generation housing in the depression. That's only a product of the post war years.

My old man is dead, so I'm living with my mother and sister, kinda being the man of the house. Mom got a little money from the life insurance that's she's trying to hang onto, she's got her own policy, and the house isn't huge or really valuable, but it's paid off. My line of thinking is that my inheritance, an investment if you will, and it's in my interest to keep an eye on it. Nothing would thrill me more if my mother dies like her father did, at 90, living independently at home, but I figure if she can just stay healthy and not have to go into a nursing home, that's good enough.
10-05-2019 02:01 AM
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mr_ks Offline
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RE: Young (American) adults more likely to live with parents than spouses
(10-04-2019 05:41 PM)dAversa Wrote:  
(10-04-2019 01:51 PM)sanbruno Wrote:  Modern medicine doesn't allow people to die with dignity. In some cases, you have no choice, unless you are willing to drop your life and care for someone 24hrs a day. I agree nursing homes are bullshit, but I wouldn't ever expect or want my children to pause their lives to come wipe my ass and feed me for possibly several years until I die a pathetic death. I want my loved ones to remember better times.
I struggle to understand the modern concept of sanctity of human life, where it has to be maintained as long as possible, far past the point of self-sustainability. Ending up like that is my nightmare scenario.

This is simply an Abrahamic idea which we see very clearly in Islam and Christianity. These religions do not allow one to take their own life as human life ultimately belongs to god and only he has the right to take it or give it away. Also, these religions use the fear of death very effectively to promote their religion, and actually make humans more afraid of death. When you look at the stats of people choosing to die who have a terminal illness, versus those who prolong a painful existence, there many more Christians and Muslims in the latter.

Paganism didnt have this problem. Pagans did not generally have any problems with Euthanasia for old age/sickness and those humans seemingly preferred to die before becoming a major burden on their families.

My uncle (Muslim) spent a lot of time raising me when I was young. He recently died of lung cancer. Tried everything to keep himself alive. Never made peace with death. In Islam the imagery of death is dark and fearsome. People try everything they can to avoid it for as long as possible, going through immense pain for themselves and their families.

Didnt mean to attack Christianity here but I think this is an important point that needs to be made.
10-05-2019 05:34 AM
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SomeOneSomeWhere Offline
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RE: Young (American) adults more likely to live with parents than spouses
(10-03-2019 11:02 PM)Eazy_E Wrote:  Men are economically unattractive. Women are physically unattractive. Student loans are a bubble. Housing is in a bubble. There you go.

The housing market will be interesting. In 5-10 years, the boomers will really start to die. That should lead to an oversupply, but millenials don't want to live in the suburbs like their parents did. They want a downtown loft within walking distance of the cowork space and the organic kombucha place they like. The Chinese might still be going full bore, or might not, there's evidence they're slowing down on buying.

That said, the real elephant in the room is nursing home costs. Nursing homes will soak you and murder any inheritance. My grandfather had a little bit of money he piled up plus it helped he was liquid in the Carter years when a savings account paid like 20%. Couple years in a home and that went poof like a fart in the wind. Nursing homes are a wealth transfer scheme. But that's what kids do now. Move away too Millenialville and put their parents in a home and visit once every other year and when their parents die, wonder where all the money went.

So I mean, like literally every other culture on earth, if you wanna keep the family money in the family, you gotta keep the family together. It'll become a bigger thing soon I think.

(10-04-2019 05:01 PM)kamoz Wrote:  
(10-04-2019 02:19 PM)SomeOneSomeWhere Wrote:  I think the powers that be will swallow up all the housing supply and once everything is owned by various globohomo megacorps they will start with some form of communism where whites will be at the bottom and forced to race mix.

WTF did I just read

It's hardly a secret that large corps with globohomo finance backing are swallowing up the housing supply and turning it into rental units.

The housing sub prime bubble wasn't an accident either. Banks had bail outs and write offs and got foreclosures for pennies on the dollar.

When globohomo owns everything what do you think is going to happen? Communism to appease the masses with the same people at the top...
(This post was last modified: 10-05-2019 06:10 AM by SomeOneSomeWhere.)
10-05-2019 06:08 AM
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RE: Young (American) adults more likely to live with parents than spouses
(10-03-2019 11:02 PM)Eazy_E Wrote:  Men are economically unattractive. Women are physically unattractive. Student loans are a bubble. Housing is in a bubble. There you go.

The housing market will be interesting. In 5-10 years, the boomers will really start to die. That should lead to an oversupply, but millenials don't want to live in the suburbs like their parents did. They want a downtown loft within walking distance of the cowork space and the organic kombucha place they like. The Chinese might still be going full bore, or might not, there's evidence they're slowing down on buying.

That said, the real elephant in the room is nursing home costs. Nursing homes will soak you and murder any inheritance. My grandfather had a little bit of money he piled up plus it helped he was liquid in the Carter years when a savings account paid like 20%. Couple years in a home and that went poof like a fart in the wind. Nursing homes are a wealth transfer scheme. But that's what kids do now. Move away too Millenialville and put their parents in a home and visit once every other year and when their parents die, wonder where all the money went.

So I mean, like literally every other culture on earth, if you wanna keep the family money in the family, you gotta keep the family together. It'll become a bigger thing soon I think.

This rise isn't sustainable that for sure. Something going to happen soon.
10-05-2019 02:45 PM
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RE: Young (American) adults more likely to live with parents than spouses
https://www.greaterfool.ca/2019/09/29/old-dogs/

An interesting read that kind of relates to this topic about preserving your inheritance.

"""Patrick is 48 and single, renting. His brother Les is 41, two kids, house and mortgage. Mom lives in a little condo, no financing, no savings. Dad has dementia. He’s in the hospital and not coming home. This family’s in crisis.

P reads the blog, contacted me for help and let me know his folks have owned a rental house in DT Toronto for more than half a century. It brings in about forty grand a year – which supports the parents – and is worth $2 million, even in its deferred-maintenance state. Dad’s minimum care in a dodgy public facility will cost a little under $3,000 a month. Alzheimer’s is an expensive affliction, in addition to being a personal hell. More respectful and attentive care in a private facility in the GTA costs about eight grand a month.

The sons have no money, or are unwilling to spend it on a failing father. Nor does she. So, I said, stating the obvious, the rental real estate has to go. Sell it, invest the proceeds and you’ll have enough to care for the guy with dignity, and still support mom.

And then, the second crisis. Tax.

Although Mom agreed the real estate should be sold, Les (he has POA) is apoplectic at seeing a chunk of his inheritance disappear in tax, then the capital eroded by nursing home bills. Despite the absolute windfall gain on this house, and the fact it’s been generating GIC-level, fully-taxable gains, the guy is balking at a sale.

So what is the liability?

It’s the sale price ($2 million) less the adjusted cost base (ACB), divided by half and taxed at his parents’ marginal rate. The ACB is not only what it cost fifty years ago (maybe $200,000) but also the addition of improvements made along the way which were not claimed against rental income, plus the sale commission. So, let’s say the capital gain ends up being $1.7 million. Half of that is free, and half added to income – thus $850,000 is the taxable amount.

If that were added to mom’s income in 2019 she’d end up in the 54% tax bracket and have to hand over about four hundred thou of the sale price, keeping $1.6 million, or 80%. Not so bad. If she and her husband bought the property jointly in the 1970s with money they both contributed, the gain could be split between them. But, thanks to our ‘tax-the-rich’ system, the bill would not be reduced.

The after-tax proceeds of more than a million and a half, if invested conservatively, could kick out about six grand a month. That’s enough to handle the long-term care facility bills now, then move dad into better surroundings when the 24/7 care need kicks in, with a minor erosion in capital. Mom can stay where she is. Her husband gets the best possible attention. Almost all of the capital is preserved for her eventual needs and possibly her estate.

But guess what? Les says no. Too much tax.

“The question is simple,” I told Pat. “How are you going to finance your father’s care? Your brother’s attitude disgusts me if he’s more worried about taxes on a windfall gain he had nothing to do with rather than the care of your parents. You can tell him that.”

And I guess he did. The real estate sale was halted. The trail went cold.

There are about 750,000 people in Canada now with Alzheimer’s or dementia. That compares with 81,000 deaths a year from cancer. But cancer cases are diminishing. Dementia is an epidemic. In a decade the number afflicted will be close to a million, with an increase of 66% in new cases. This is a function of demographics (9.6 million Boomers) and longevity.

There’s no treatment and no cure. Nobody gets over Alzheimer’s. Nobody gets better. The decline can take a decade or more, and early-onset patients may be afflicted in their forties or fifties. Cognitive ability degrades and in the end nobody functions on their own. Often caregivers – usually elderly spouses – suffer immensely as they struggle to look after someone whose path leads to absolute dependence. The best care possible is not at home. It’s in a facility staffed with people who aren’t figuring things out for the first time. And that costs money. Big money. Every family should be aware of this, and prepare.

Ensure you have power of attorney for yourself, and that your parents have done the same. Make sure there’s a will. Don’t have a relative as the executor – unless she is a probate and estate lawyer. As you age, simplify your life. Shed assets. Raise cash. Become less encumbered and more liquid. Sell the cottage. Ditch the boat. Spell out the beneficiaries of your RRSPs and the successor holders of your TFSAs. If you have business interests or other assets consider having a secondary or even tertiary will. Get some insurance to cover probate costs or outstanding mortgage balances.

Tell your partner if this stuff happens to you, to skip the heroics. Alzheimer’s patients belong in a care facility, not wandering off from the front door into traffic. But financing the long goodbye is daunting. It takes advance thought, and action.

As Patrick found, it cannot wait for a crisis – when human nature never fails to disappoint.""""
10-05-2019 06:56 PM
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Kona Offline
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RE: Young (American) adults more likely to live with parents than spouses
I say do it. Live in multigenerational houses. Filipinos do it. Keep the family close. I like it.

Aloha!
10-06-2019 05:39 AM
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RE: Young (American) adults more likely to live with parents than spouses
(10-03-2019 10:33 PM)BlueMark Wrote:  
Quote:In 2018, there were 300,000 more 26-year-olds living with parents than spouses.

This isn't surprising since the average marriage age has been going up. If someone, especially a girl, isn't married at 26 she'll likely live at home. More so if she has a kid. She'll need the grandparents to raise her bastard while she goes out to party.


(10-03-2019 10:33 PM)BlueMark Wrote:  
Quote:Conversely, it is becoming much more common for multiple family units to live together under one roof. In some metros, these “unrelated” households have more than doubled since the start of the Great Recession.
Social and economic forces are encouraging many Americans – particularly at the lower end of the income distribution – to band together and form larger households in order to afford their preferred housing.

I feel like a good part of this number is due to illegals. My friend said there where 15 people living in a 3 bedroom apartment in the last inspection. And it takes up to a year to evict them.
10-06-2019 06:44 AM
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Post: #20
RE: Young (American) adults more likely to live with parents than spouses
In many countries, children live with their parents all the time. In Italy, it is normal for a man of 30-40 years old to live with his parents.
10-06-2019 06:51 AM
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BlueMark Offline
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Post: #21
RE: Young (American) adults more likely to live with parents than spouses
Related article: https://www.strongtowns.org/journal/2019...-caught-up

Quote:Single adults living alone account for 28% of U.S. households, but more than 80% of the nation’s houses and apartments are built with two or more bedrooms.

Households consisting of unrelated adults sharing a home are as numerous as nuclear families (20% each).

I suspect mandatory parking minimums has a lot to do with it. Because if developers had to build a parking spot for every apartment, they might as well amortize it over a bigger apartment with multiple bedrooms.

What a man can be, he must be. --Abraham Maslow
10-06-2019 11:51 PM
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Post: #22
RE: Young (American) adults more likely to live with parents than spouses
Zoning and fixed costs is what did it. I build a one bedroom house or a five bedroom, I still gotta run sewer to the main, still gotta run electric from the street, still gotta pay bribes, oops permits, to the city. At that point, might as well make the biggest margin I can.

I read an article from some cat lady in training saying that it's an issue that more food doesn't come one in a package for one person.
10-07-2019 12:50 AM
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Post: #23
RE: Young (American) adults more likely to live with parents than spouses
(10-06-2019 05:39 AM)Kona Wrote:  I say do it. Live in multigenerational houses. Filipinos do it. Keep the family close. I like it.

Aloha!

Really depends on the family. Some families are dens of abuse.
10-07-2019 05:59 AM
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bgbusiness Away
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Post: #24
RE: Young (American) adults more likely to live with parents than spouses
Interesting.

I actually do plan on moving back to my mom's house.
This does not mean that I will rely on her financially or vise-versa.
She makes her own money and would not need my financial support.

As my mother is getting older, I don't know how long I will have time spend with her. So I do want to spend some time with her...

I would be saving time, money, and resources by living with my mother.
We are planning to buy a house this year or early next year and live together.

She used to own a restaurant and was a cook herself temporarily, so I would eat super healthy. Mothers always like to feed their son. She would clean most of the house and can also do laundry.

I would in return take trash out, do physical work like vacuuming, cut grass, doing grocery shopping and bringing groceries inside the house, etc.
My mother also would like to have someone like me in the house so she feels "safer". Maybe it's because I am 200+ pounds and almost 6 ft.

Although our personalities can collide, we both are pretty busy people, so I don't think we will have a lot of interactions. Even now I live 20minutes away from her, but see her once a week for couple hours only...

The rapper Wale once said, "Long as your mama love you, don't ever love a woman" in this song
https://www.youtube.com/watch?v=O7ZbM7ak8uw

"Don't let yourself get attached to anything you are not willing to walk out on in 30 seconds flat if you feel the heat around the corner."
- Heat

"That's the difference between you and me. You wanna lose small, I wanna win big."
(This post was last modified: 10-09-2019 07:40 PM by bgbusiness.)
10-09-2019 07:37 PM
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