Why Do Half of Young Adults Live with Their Parents?

The Money with Katie Show

Money with Katie

Self-improvement, Education, Business, Investing, How To

4.8 • 1.3K Ratings

🗓️ 1 March 2023

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

The number of young adults living at home crested at 52% in July 2020, the highest number ever recorded (the former high was around 48%, following the Great Depression—yes, the 1930s). Understandably, this figure rocked the internet—and spawned a deluge of articles in the years since hypothesizing about the why and how. And while things have since “normalized” back to a level of around 47%, that figure is still—historically—high, and deserves a closer look. Learn more about our sponsor, TaxAct: https://www.taxact.com/moneywithkatie Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice Learn more about our sponsor, Droplette: https://droplette.io/ and use promo code MONEYWITHKATIE for 50% off Transcripts can be found at podcast.moneywithkatie.com. — Mentioned in the Episode USA Today fact check: https://www.usatoday.com/story/news/factcheck/2021/12/23/fact-check-47-american-young-adults-live-their-parents/8672598002/ Pew Research Center data: https://www.pewresearch.org/fact-tank/2020/09/04/a-majority-of-young-adults-in-the-u-s-live-with-their-parents-for-the-first-time-since-the-great-depression/ft_2020-09-04_livingwithparents_02/ Yahoo! Finance article: https://finance.yahoo.com/news/nearly-half-young-adults-us-073044507.html Fortune article: https://fortune.com/2022/12/13/gen-z-young-millennials-way-afford-luxury-handbags-watches-living-mom-dad-morgan-stanley/ Millennial American Dream Pt 1: https://youtu.be/51S_SpHpPDk Millennial American Dream Pt. 2: https://youtu.be/VbIQHrSAmsQ Median home values: https://moneywithkatie.com/blog/are-houses-more-expensive-or-bigger SHEcession & childcare: https://podcast.moneywithkatie.com/bonus-the-shecession-childcare-and-modern-motherhood-in-the-us/ Healthcare costs: https://moneywithkatie.com/blog/category/healthcare — Read Money with Katie: https://moneywithkatie.com/ Follow Money with Katie! Instagram - https://www.instagram.com/moneywithkatie Twitter - https://twitter.com/moneywithkatie TikTok - https://www.tiktok.com/@moneywithkatie Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	A headline began circulating in 2021 that had adults in a tizzy. Half of young adults
0:10.3	live with their parents. Could this be true and if it is, why? Today, we are digging in.
0:30.0	Welcome back to the Money with Katie Show, Rich Girls, and Boys. I am your host, Katie
0:35.1	Gatti Tossin. In the post-pandemic site, Geist, a meme has been circulating on social media
0:42.0	that claims 52% of young adults live with their parents.
0:46.4	Though, to be fair, the meme does not define young adults. As outrageous claims swirling
1:02.0	in the internet cesspool often do, it generated outrage for polar opposite reasons. Depending
1:10.2	on your world view, you probably jumped to one of two conclusions about this claim.
1:15.5	Number one, that the cupcake trophy generation clearly can't hack it without mommy and daddy,
1:21.0	and if they'd just stop getting degrees in underwater basket weaving and yoloing it up in
1:25.7	Europe, they could hurry up and be miserable like the rest of us and make it on their own.
1:31.5	Or number two, that the system is so broken to the point that the most educated, most
1:38.3	in-depth generation of all time can't make ends meet and things are effed beyond repair
1:43.0	and we need to blow the whole thing up and start over.
1:48.4	Or maybe you had a third reaction. In credulity, could this really be true, these numbers
1:54.5	seem way too high. Some responses point out that the numbers could be skewed for several
2:00.6	reasons, including people whose parents live with them, as in the child is the caretaker.
2:07.6	Teachers noted that young adults could include college students who would be making a fiscally
2:12.3	wise choice by living at home rather than shelling out thousands of dollars per month
2:16.9	for on-campus housing. Still others went back a step and they asked, why have we decided
2:23.3	that this is a bad thing? Shipping out of the nest at age 18 or else you're a failure
2:29.0	is not a global expectation. Multi-generational living is normal and culturally prevalent
	...

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