Michael Snyder
Economic Collapse
February 20, 2014
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| Image: Wikimedia Commons. |
Why are so many young adults in America living with their parents? According to a stunning
Gallup survey that
was recently released, nearly three out of every ten adults in the
United States under the age of 35 are still living at home with Mom and
Dad.
This closely lines up with a Pew Research Center analysis of Census
data that looked at a younger sample of Americans which found that
36 percent of
Americans 18 to 31 years old were still living with their parents.
That was the highest level that had ever been recorded. Overall,
approximately
25 million U.S.
adults are currently living at home with their parents according to
Time Magazine. So what is causing all of this? Well, there are
certainly a lot of factors. Overwhelming student loan debt, a
depressing lack of jobs and the high cost of living are all definitely
playing a role. But many would argue that what we are witnessing goes
far beyond temporary economic conditions. There are many that believe
that we have fundamentally failed our young people and have neglected to
equip them with the skills and values that they need to be successful
in the real world.
More Americans than ever before seem to be living in a state of “perpetual adolescence”. As
Gallup noted, one of the keys to adulthood is to be able to establish independence from your parents…
An important milestone in adulthood is establishing
independence from one’s parents, including finding a job, a place to
live and, for most, a spouse or partner, and starting one’s own family.
However, there are potential roadblocks on the path to independence that
may force young adults to live with their parents longer, including a
weak job market, the high cost of living, significant college debt, and
helping care for an elderly or disabled parent.
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