Why can’t today’s young adults leave the nest? Blame high housing costs
Why can’t today’s young adults leave the nest? Blame high housing costs
Nearly one-third, or 31%, of Gen Z are living with their parents because they can't afford to buy or rent their own space, according to a recent report.
These days, housing affordability is a struggle for nearly everyone.
But for young adults just starting out, soaring home prices and sky-high rents 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 that polled 1,249 people age 18 and older. Gen Z is generally defined 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. Now, 25% of young adults live in a multigenerational household, up from just 9% five decades ago.
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There was an article recently about Vienna, I think, and they made progress on the housing crisis by just having the state own the houses. Nationalize housing.
edit: Found the article: https://www.theguardian.com/lifeandstyle/2024/jan/10/the-social-housing-secret-how-vienna-became-the-worlds-most-livable-city
while that is a valid point, i do not trust any government to manage them properly.
and also something something individual freedom to buy property and rent it out to have a little passive income.
In the US, the republican party would 100% try to sabotage any government program because they're ideologically opposed to government. It would be difficult to run any program while they're around waiting to sabotage it.
Also passive income from renting property is not really idealistic or healthy.
Anyway, I found the article: https://www.theguardian.com/lifeandstyle/2024/jan/10/the-social-housing-secret-how-vienna-became-the-worlds-most-livable-city
The GOP is not ideologically opposed to government, they believe the government's sole purpose is punishment, keeping people "in their place", and engaging in grafting / racketeering. They have no issue stealing our tax dollars for the purpose of giving them to the police, military, and business subsidies.
They're ideologically opposed to anything but their government. Ftfy, they've shown that they love government. But only when they can use it as a weapon.
This is a good point. They want to use the government for stuff like banning queer books.