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tomandlu

More Young People Are Living With Their Parents Than Ever Before

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I know a Boomer parent (not one of mine thankfully) who spent years banging on about how it's no harder now than it ever was and young people are just lazy and entitled etc and then suddenly had an almost religious conversion when her own children hit their 20s and started struggling with housing and employment. A key moment in this was when her perfectly employable daughter lost her admin job, couldn't find another and ended up leaving her shared house in London to move back in with the parents as she was struggling with the rent. The Boomer parent actually became quite nice to talk to once reality knocked some of the Daily Mail memes out of her, she'd basically fit in on HPC.

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....in some cases, more in the case of the mothers they would welcome back their children, children however old will always be children to their parents.....empty nest syndrome and all that......society says the ideal life for all is home, university, work, buy a house, marriage, children, retirement and death.....this of course is totally wrong a good life can be that, but also any number of a wide range of alternatives, there is no right way or wrong way of living as long as no others are hurt in the process..... ;)

edit: forgot the important one. :P

Edited by winkie

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I know a Boomer parent (not one of mine thankfully) who spent years banging on about how it's no harder now than it ever was and young people are just lazy and entitled etc and then suddenly had an almost religious conversion when her own children hit their 20s and started struggling with housing and employment. A key moment in this was when her perfectly employable daughter lost her admin job, couldn't find another and ended up leaving her shared house in London to move back in with the parents as she was struggling with the rent. The Boomer parent actually became quite nice to talk to once reality knocked some of the Daily Mail memes out of her, she'd basically fit in on HPC.

Absolutely. The only way for the vast majority of people to learn/realise a hidden truth is via personal experience. Most people have issues talking about things like salary etc to their parents. I think if more children were to turn to them and say 'I earn 30k per year, I'm 30 and the type of house you brought us up in is 200k+ - in what universe does that mimic your situation at my age?' then they would learn pretty quick. Most have no idea there has been very little wage inflation.

There are some who understand the issue anyway, but they are lesser in number.

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The young twenty-somethings able to live with their parents are the lucky ones.

It's not great for self-esteem though. I know a few 30 year olds who are still living with their parents, some of them definitely have confidence issues even though they have been in full time employment for almost a decade.

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I know a Boomer parent (not one of mine thankfully) who spent years banging on about how it's no harder now than it ever was and young people are just lazy and entitled etc and then suddenly had an almost religious conversion when her own children hit their 20s and started struggling with housing and employment. A key moment in this was when her perfectly employable daughter lost her admin job, couldn't find another and ended up leaving her shared house in London to move back in with the parents as she was struggling with the rent. The Boomer parent actually became quite nice to talk to once reality knocked some of the Daily Mail memes out of her, she'd basically fit in on HPC.

A humbled parent becomes a nicer person to know. I have similar experiences of cocky to nice.

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It's not great for self-esteem though. I know a few 30 year olds who are still living with their parents, some of them definitely have confidence issues even though they have been in full time employment for almost a decade.

Infantilization...............

http://voices.yahoo.com/grown-children-live-home-infantilization-12228749.html

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I've been there for a couple of years in my mid-late 20's. I always had a (low paid) job, but it must be even worse if you are out of work. Its a horribly belittling experience after a while. I feel for the people stuck in the same situation today - the only good that can come of the situation is if it develops greater public support for building and the downstream rent/price reductions that would logically follow against a backdrop of inevitable future IR rises.

I wonder how a heavily leveraged 55 year old with a couple of grown up kids at home feels about HPI, it must be a paradoxical experience for those with the wit to grasp the fundamentals of their situation and that of their offspring.

Edited by disenfranchised

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I know parents who gave nothing nor left anything to their progeny; it only served to make them more independent and autonomous people. They may have resented the lack of generosity by their parents, but they survived and developed into anything but dependent individuals. They grew into mature adults, able to exist, yes, actually survive in the world, through, by and using their own abilities. Bully, I say, for them, because lately, they are becoming an extremely endangered species.

Now I wonder why that is fast becoming no longer possible today for more and more young people in many countries of the world......answers on a postcard. ;)

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Absolutely. The only way for the vast majority of people to learn/realise a hidden truth is via personal experience. Most people have issues talking about things like salary etc to their parents. I think if more children were to turn to them and say 'I earn 30k per year, I'm 30 and the type of house you brought us up in is 200k+ - in what universe does that mimic your situation at my age?' then they would learn pretty quick. Most have no idea there has been very little wage inflation.

There are some who understand the issue anyway, but they are lesser in number.

Still has no effect on my boomer parents who are nice people but cannot process this information.

'a well-fed person cannot understand the hungry'

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It's not great for self-esteem though. I know a few 30 year olds who are still living with their parents, some of them definitely have confidence issues even though they have been in full time employment for almost a decade.

You rang?

Still have no idea where all these others are, I must know only people with good timing (Buying), couples, and single muvvers.

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ITYM more than at any time since 1996. Not half as many as in the era of a kind of loving ...

How much of that is down to rising numbers in full-time education, and the coming of higher education to more people's doorsteps? If it were down to economic necessities[1] you'd expect a big disruption in the graph around 2007-9, and a modest fall since then.

[1] Yes of course that plays a role. I mean, if that were the statistically dominant factor.

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If it were down to economic necessities[1] you'd expect a big disruption in the graph around 2007-9, and a modest fall since then.

Why would you expect a fall since 2009?

Increased utility costs

Increased food costs

Increased council tax bills

Unable to extend previous credit (pay day lenders would have no market if overdrafts and credit cards were easy to get?)

Decreased access to employment under 25

Very limited (below inflation) salary increases for trades, normal public sector jobs, or the lower rungs of the private sector.

Edited by disenfranchised

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Still has no effect on my boomer parents who are nice people but cannot process this information.

'a well-fed person cannot understand the hungry'

My parents and I have always been extremely open about finances; I've tracked their net worth since I was about 9, and they know mine today. With this information, we've a considerable amount of data to see the eye opening difference between 20/30 years ago and today given relatively similar careers in terms of earning potential etc.

There's also the whole 'you have low rates' thing that some trot out. I agree with that - but the market price is the only concern to me and mine. As a frugal git, my 30 something peers who have had the same opportunities/earned a similar salary to me over the last decade and don't have any savings OR a house are not my concern - that was purely thier choice to p1ss it up the wall, but in my case my savings don't buy value compared to where (I think) things should be given the dataset I've available, so I opt out. My parents agree.

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It's not great for self-esteem though. I know a few 30 year olds who are still living with their parents, some of them definitely have confidence issues even though they have been in full time employment for almost a decade.

It was bad enough having to live at home for a few months after I graduated .. wouldn't at all have fancied having to do so into my 30s as seems to be increasingly common.

Whereas in many parts, houses are stupidly unaffordable for what would traditionally have been FTBs, if you have a full time job you should at least be able to afford to house-share a rental.

Buying isn't the be-all and end-all and ultimately the market will normalize, though who knows when. No reason to throw away the full benefits of your youth just because you can't buy a house of your own.

Edited by Sour Mash

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Society is generally infantilised these days. Just look at the typical dumbing-down in the news media or the preachy tone of any number of officials/bureaucrats.

There's been a general trend of taking away rights and responsibilities. Just let the authorities tell you what to do and trust officialdom to look after your interests ... <_<

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It was bad enough having to live at home for a few months after I graduated .. wouldn't at all have fancied having to do so into my 30s as seems to be increasingly common.

Whereas in many parts, houses are stupidly unaffordable for what would traditionally have been FTBs, if you have a full time job you should at least be able to afford to house-share a rental.

Buying isn't the be-all and end-all and ultimately the market will normalize, though who knows when. No reason to throw away the full benefits of your youth just because you can't buy a house of your own.

Agreed. If you choose to live at your parents (providing they are amenable to that) to save money, all well and good. If you moan about the situation and have the means to do something about it, move out. For me, the slightly sub-monkey I spend on rent (all in) a month is worth it. I can still save money, and work part time for the average UK salary. How others can't cope (with similar income) is beyond me.

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Agreed. If you choose to live at your parents (providing they are amenable to that) to save money, all well and good. If you moan about the situation and have the means to do something about it, move out. For me, the slightly sub-monkey I spend on rent (all in) a month is worth it. I can still save money, and work part time for the average UK salary. How others can't cope (with similar income) is beyond me.

I house shared through my 20s (actually, from my late teens) and have rented my own place since my early 30s. I will probably buy shortly though as locally prices are what I would consider somewhat sane and the alternative avenues for investing my wealth are all looking iffy.

Whilst I wouldn't willingly go back to house sharing at this stage in my life, it was great at the time. I met loads of new people through housemates and when you're younger you are much more open to putting up with the hassle. Much better than 'house sharing with parents' IMO even if you don't get the financial and comfort benefits.

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It's not great for self-esteem though. I know a few 30 year olds who are still living with their parents, some of them definitely have confidence issues even though they have been in full time employment for almost a decade.

You'd probably have some issues if you were one of the wilsons tenants too.

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I house shared through my 20s (actually, from my late teens) and have rented my own place since my early 30s. I will probably buy shortly though as locally prices are what I would consider somewhat sane and the alternative avenues for investing my wealth are all looking iffy.

Whilst I wouldn't willingly go back to house sharing at this stage in my life, it was great at the time. I met loads of new people through housemates and when you're younger you are much more open to putting up with the hassle. Much better than 'house sharing with parents' IMO even if you don't get the financial and comfort benefits.

Yup - there are swings and roundabouts - if the wrong person moves into a houseshare things can go south rather fast, but then you can always leave yourself (relatively) painlessly. I've done both in my 20's - lived with the folks and house shared. Both were fine - the living with parents thing is great too if you get on with them., But yep, the houseshare on balance for me is worth the cash. I've put myself in a position where I'm effectively a Bruce Banner with youth in terms of the cost of it anyway :-)

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if you have a full time job you should at least be able to afford to house-share a rental.

Even this is not easy though. 40 hours of NMW a week is about £13k, leaves you £983 a month after tax. £400-£500pm rent for a room in a shared house is standard pretty much anywhere in the south of England. Say £450pm for rent, £30pm council tax, £30pm utilities, you're up to £510pm for somewhere to rest your head. That leaves you with £473pm or £15.50 per day for groceries, clothing, transport, socialising (which you may want to do at some point in your 20s!), occasional moving costs as house shares are pretty unstable, covering gaps in employment and saving. It's possible, but it really would be pretty hand-to-mouth with no end in sight. I can understand why people faced with this or staying with their parents and being able to add a few hundred quid to the savings account or pay off some student loan each month would choose the latter.

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