Why can’t today’s young adults leave the nest? Blame high housing costs - eviltoast
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.

      • tsonfeir@lemm.ee
        5·
        10 months ago

        I’m looking, but there’s no way I’m paying those prices. I’d rather rent and have the ability to leave my job for another job when I can get more money.

        • Flying Squid@lemmy.world
          51·
          10 months ago

          Which is exactly what the investor class wants. Keep generating wealth for the landlords and no generational wealth because houses are too expensive.

            • Flying Squid@lemmy.world
              11·
              10 months ago

              It would have to be a really low cap considering how low wages are now, but I’d be okay with that. I just doubt the U.S. government would allow it to happen.

              • tsonfeir@lemm.ee
                2·
                10 months ago

                Nothing is going to get better at this point. I think the rich know they can just do whatever they want, as usual. The power of the middle class is almost gone. The only solution is the mass extinction of billionaires as a message, and I doubt a single one will be removed in my lifetime.

                • Flying Squid@lemmy.world
                  11·
                  10 months ago

                  The problem is- and I said this in another thread this morning, so apologies for people who read it there- the billionaires have nuclear war-proof bunkers they can hide in while surrounded by heavily-armed security. There’s no way we’ll be able to get to them. So I agree with you.

                  • tsonfeir@lemm.ee
                    11·
                    10 months ago

                    Well, they aren’t sleeping in them. They leave sometime. Let’s use all these guns we have to defend us from the rich. 🤪