Parents kicking their children out of the home

[briansd1]

I think that it could be a cost-of-housing-as-a-proportion-of-income kinda thing.

In areas or countries where housing consumes a large portion of income, kids will stay at home longer into adulthood out of necessity.

[bearishgurl]

[quote=UCGal]I agree w early retirement… there are a lot of kids who aren’t working or going to school and basically need, IMO, a kick in the pants to stop sponging. I have a coworker who can’t figure out how to motivate his daughter into getting a job or getting serious about college. His wife refuss to consider the tough love approach, so they’re enabling her less than productive lifestyle.

And BG – I grew up in coastal San Diego in the 70s… I wasn’t ready for college when I graduated high school… but I got a job and moved out 2 weeks after my 18th birthday… I think it’s more of a generational thing than a geographical thing that is keeping kids at home these days. I see kids lingering at home well into their 20’s back east too.[/quote]

Yes, UCGal, I do think the HS grad urge for independence was somewhat generational. After all, apts in SD were $140-$240 mo back then (some with ocean views). “Granny flats” (with an “alley/dumpster-view,” lol) were less than $100 mo. At that time, SDSU and UCSD fees were less than community college fees today.

HOWEVER, I worked waiting tables in two different nice waterfront (union) restaurants in the years after arriving here. We typically made $65-$100 tips on Friday night and $100+ tips on Saturday night (from which we had to tip the bartender and our “busboy”). The Federal tip tax law was not enacted until 1983 under Pres Reagan so this $$ was entirely “under the table.” MANY of my co-worker waitresses (all women back then) were 25-35 years old and STILL living with parents. Some were recent divorcees and some students but nonetheless, even with the (by current stds) very reasonable rents, they were living in their parents home. Perhaps they were doing housework or landscaping for a busy or disabled parent??

HS Grads in parts of the nation who wanted to escape inclement weather and/or economic hardship and lack of jobs were MUCH more proactive about becoming independent of parents back then. Our HS diploma couldn’t come fast enough as we already had our 1960’s used cars packed for a post-grad “road trip.” California or BUST :=]

Today, we, as baby boomers and even Gen X-ers have made it “too easy” for our kids, enabling them to forgo disrupting the “status quo.” Rampant inflation in rents, utils, everyday commodities and college fees (w/o corresponding min wage increases) haven’t helped this situation, either.

Edit: I personally don’t have any “boomerang kids.” They couldn’t escape to NoCal fast enough. One moved up there and signed a lease while still 17! They’re expected to lay out a futon and put mom up on occasion (along with my dog) :=]

[bearishgurl]

[quote=UCGal]I agree w early retirement… there are a lot of kids who aren’t working or going to school and basically need, IMO, a kick in the pants to stop sponging. I have a coworker who can’t figure out how to motivate his daughter into getting a job or getting serious about college. His wife refuss to consider the tough love approach, so they’re enabling her less than productive lifestyle.

And BG – I grew up in coastal San Diego in the 70s… I wasn’t ready for college when I graduated high school… but I got a job and moved out 2 weeks after my 18th birthday… I think it’s more of a generational thing than a geographical thing that is keeping kids at home these days. I see kids lingering at home well into their 20’s back east too.[/quote]

Yes, UCGal, I do think the HS grad urge for independence was somewhat generational. After all, apts in SD were $140-$240 mo back then (some with ocean views). “Granny flats” (with an “alley/dumpster-view,” lol) were less than $100 mo. At that time, SDSU and UCSD fees were less than community college fees today.

HOWEVER, I worked waiting tables in two different nice waterfront (union) restaurants in the years after arriving here. We typically made $65-$100 tips on Friday night and $100+ tips on Saturday night (from which we had to tip the bartender and our “busboy”). The Federal tip tax law was not enacted until 1983 under Pres Reagan so this $$ was entirely “under the table.” MANY of my co-worker waitresses (all women back then) were 25-35 years old and STILL living with parents. Some were recent divorcees and some students but nonetheless, even with the (by current stds) very reasonable rents, they were living in their parents home. Perhaps they were doing housework or landscaping for a busy or disabled parent??

HS Grads in parts of the nation who wanted to escape inclement weather and/or economic hardship and lack of jobs were MUCH more proactive about becoming independent of parents back then. Our HS diploma couldn’t come fast enough as we already had our 1960’s used cars packed for a post-grad “road trip.” California or BUST :=]

Today, we, as baby boomers and even Gen X-ers have made it “too easy” for our kids, enabling them to forgo disrupting the “status quo.” Rampant inflation in rents, utils, everyday commodities and college fees (w/o corresponding min wage increases) haven’t helped this situation, either.

Edit: I personally don’t have any “boomerang kids.” They couldn’t escape to NoCal fast enough. One moved up there and signed a lease while still 17! They’re expected to lay out a futon and put mom up on occasion (along with my dog) :=]

[bearishgurl]

[quote=UCGal]I agree w early retirement… there are a lot of kids who aren’t working or going to school and basically need, IMO, a kick in the pants to stop sponging. I have a coworker who can’t figure out how to motivate his daughter into getting a job or getting serious about college. His wife refuss to consider the tough love approach, so they’re enabling her less than productive lifestyle.

And BG – I grew up in coastal San Diego in the 70s… I wasn’t ready for college when I graduated high school… but I got a job and moved out 2 weeks after my 18th birthday… I think it’s more of a generational thing than a geographical thing that is keeping kids at home these days. I see kids lingering at home well into their 20’s back east too.[/quote]

Yes, UCGal, I do think the HS grad urge for independence was somewhat generational. After all, apts in SD were $140-$240 mo back then (some with ocean views). “Granny flats” (with an “alley/dumpster-view,” lol) were less than $100 mo. At that time, SDSU and UCSD fees were less than community college fees today.

HOWEVER, I worked waiting tables in two different nice waterfront (union) restaurants in the years after arriving here. We typically made $65-$100 tips on Friday night and $100+ tips on Saturday night (from which we had to tip the bartender and our “busboy”). The Federal tip tax law was not enacted until 1983 under Pres Reagan so this $$ was entirely “under the table.” MANY of my co-worker waitresses (all women back then) were 25-35 years old and STILL living with parents. Some were recent divorcees and some students but nonetheless, even with the (by current stds) very reasonable rents, they were living in their parents home. Perhaps they were doing housework or landscaping for a busy or disabled parent??

HS Grads in parts of the nation who wanted to escape inclement weather and/or economic hardship and lack of jobs were MUCH more proactive about becoming independent of parents back then. Our HS diploma couldn’t come fast enough as we already had our 1960’s used cars packed for a post-grad “road trip.” California or BUST :=]

Today, we, as baby boomers and even Gen X-ers have made it “too easy” for our kids, enabling them to forgo disrupting the “status quo.” Rampant inflation in rents, utils, everyday commodities and college fees (w/o corresponding min wage increases) haven’t helped this situation, either.

Edit: I personally don’t have any “boomerang kids.” They couldn’t escape to NoCal fast enough. One moved up there and signed a lease while still 17! They’re expected to lay out a futon and put mom up on occasion (along with my dog) :=]

[bearishgurl]

[quote=UCGal]I agree w early retirement… there are a lot of kids who aren’t working or going to school and basically need, IMO, a kick in the pants to stop sponging. I have a coworker who can’t figure out how to motivate his daughter into getting a job or getting serious about college. His wife refuss to consider the tough love approach, so they’re enabling her less than productive lifestyle.

And BG – I grew up in coastal San Diego in the 70s… I wasn’t ready for college when I graduated high school… but I got a job and moved out 2 weeks after my 18th birthday… I think it’s more of a generational thing than a geographical thing that is keeping kids at home these days. I see kids lingering at home well into their 20’s back east too.[/quote]

Yes, UCGal, I do think the HS grad urge for independence was somewhat generational. After all, apts in SD were $140-$240 mo back then (some with ocean views). “Granny flats” (with an “alley/dumpster-view,” lol) were less than $100 mo. At that time, SDSU and UCSD fees were less than community college fees today.

HOWEVER, I worked waiting tables in two different nice waterfront (union) restaurants in the years after arriving here. We typically made $65-$100 tips on Friday night and $100+ tips on Saturday night (from which we had to tip the bartender and our “busboy”). The Federal tip tax law was not enacted until 1983 under Pres Reagan so this $$ was entirely “under the table.” MANY of my co-worker waitresses (all women back then) were 25-35 years old and STILL living with parents. Some were recent divorcees and some students but nonetheless, even with the (by current stds) very reasonable rents, they were living in their parents home. Perhaps they were doing housework or landscaping for a busy or disabled parent??

HS Grads in parts of the nation who wanted to escape inclement weather and/or economic hardship and lack of jobs were MUCH more proactive about becoming independent of parents back then. Our HS diploma couldn’t come fast enough as we already had our 1960’s used cars packed for a post-grad “road trip.” California or BUST :=]

Today, we, as baby boomers and even Gen X-ers have made it “too easy” for our kids, enabling them to forgo disrupting the “status quo.” Rampant inflation in rents, utils, everyday commodities and college fees (w/o corresponding min wage increases) haven’t helped this situation, either.

Edit: I personally don’t have any “boomerang kids.” They couldn’t escape to NoCal fast enough. One moved up there and signed a lease while still 17! They’re expected to lay out a futon and put mom up on occasion (along with my dog) :=]

[bearishgurl]

[quote=UCGal]I agree w early retirement… there are a lot of kids who aren’t working or going to school and basically need, IMO, a kick in the pants to stop sponging. I have a coworker who can’t figure out how to motivate his daughter into getting a job or getting serious about college. His wife refuss to consider the tough love approach, so they’re enabling her less than productive lifestyle.

And BG – I grew up in coastal San Diego in the 70s… I wasn’t ready for college when I graduated high school… but I got a job and moved out 2 weeks after my 18th birthday… I think it’s more of a generational thing than a geographical thing that is keeping kids at home these days. I see kids lingering at home well into their 20’s back east too.[/quote]

Yes, UCGal, I do think the HS grad urge for independence was somewhat generational. After all, apts in SD were $140-$240 mo back then (some with ocean views). “Granny flats” (with an “alley/dumpster-view,” lol) were less than $100 mo. At that time, SDSU and UCSD fees were less than community college fees today.

HOWEVER, I worked waiting tables in two different nice waterfront (union) restaurants in the years after arriving here. We typically made $65-$100 tips on Friday night and $100+ tips on Saturday night (from which we had to tip the bartender and our “busboy”). The Federal tip tax law was not enacted until 1983 under Pres Reagan so this $$ was entirely “under the table.” MANY of my co-worker waitresses (all women back then) were 25-35 years old and STILL living with parents. Some were recent divorcees and some students but nonetheless, even with the (by current stds) very reasonable rents, they were living in their parents home. Perhaps they were doing housework or landscaping for a busy or disabled parent??

HS Grads in parts of the nation who wanted to escape inclement weather and/or economic hardship and lack of jobs were MUCH more proactive about becoming independent of parents back then. Our HS diploma couldn’t come fast enough as we already had our 1960’s used cars packed for a post-grad “road trip.” California or BUST :=]

Today, we, as baby boomers and even Gen X-ers have made it “too easy” for our kids, enabling them to forgo disrupting the “status quo.” Rampant inflation in rents, utils, everyday commodities and college fees (w/o corresponding min wage increases) haven’t helped this situation, either.

Edit: I personally don’t have any “boomerang kids.” They couldn’t escape to NoCal fast enough. One moved up there and signed a lease while still 17! They’re expected to lay out a futon and put mom up on occasion (along with my dog) :=]

[earlyretirement]

[quote=UCGal]I agree w early retirement… there are a lot of kids who aren’t working or going to school and basically need, IMO, a kick in the pants to stop sponging. I have a coworker who can’t figure out how to motivate his daughter into getting a job or getting serious about college. His wife refuss to consider the tough love approach, so they’re enabling her less than productive lifestyle.

And BG – I grew up in coastal San Diego in the 70s… I wasn’t ready for college when I graduated high school… but I got a job and moved out 2 weeks after my 18th birthday… I think it’s more of a generational thing than a geographical thing that is keeping kids at home these days. I see kids lingering at home well into their 20’s back east too.[/quote]

Yeah UCGal,

I see this ALL the time with some American clients and especially my British clients. Most of my super wealthy clients are from the UK. And I find many of them just spoil their kids rotten to the point that the kids won’t accomplish anything in life in the future. So the parents that do this and not administering a bit of “tough love” are contributing to their kids becoming losers.

One of my British clients bought several properties that were supposed to be “investments”. Well, his sons talked him into “taking a year off from college and living abroad” to learn Spanish. Well, it went from being a supposed rental investment property to a place that his college drop out son moved into as a party pad. This was a few years ago and he still lives in it. Oh, did I mention that his younger brother now lives in one of the other ones.

If you see your brother partying, not going to school and having dad pay for everything….you might tend to want to do the same thing.

I realize this girl in the story above isn’t in that situation but I think you have to have a healthy mix because I know plenty of parents that should have kicked the kids out and taught them the world isn’t an easy place and money doesn’t grow on trees.

I also know someone that sounds like this girl in the story above. She was an employee for one of the companies I owned. Totally strange strange situation because she was a super intelligent girl. College degree, fluent in 3 languages. Well, one day she told me she was quitting. I asked her why as I was surprised she was leaving after working for me several years.

You can imagine my surprise when she told me she was engaged. I was shocked as just a few months before she was single. I asked where she met this guy??? Her answer? Facebook!!

So then she tells me she talks to him on the phone every night and they send emails all day. I mistakenly assumed she met him face to face. To be honest, I didn’t really want to hear too much because I thought she was totally stupid to get engaged to someone she knew nothing about.

Well, here’s the kicker….she said she was moving to the USA to live with him. So she quit her job, and was going to move to another country. I told her it was a mistake.

Fast forward to now. Last I heard ..sure enough the day before he is supposed to arrive to get her and help her move. She gets some random email from a gmail account saying it’s her fiance’s friend and that he died.

The sad part is she believed all of it. Later the guy admitted he was just playing with her. But reading the story of the girl getting engaged to the guy from online made me think of this. You have people doing totally stupid things.

[earlyretirement]

[quote=UCGal]I agree w early retirement… there are a lot of kids who aren’t working or going to school and basically need, IMO, a kick in the pants to stop sponging. I have a coworker who can’t figure out how to motivate his daughter into getting a job or getting serious about college. His wife refuss to consider the tough love approach, so they’re enabling her less than productive lifestyle.

And BG – I grew up in coastal San Diego in the 70s… I wasn’t ready for college when I graduated high school… but I got a job and moved out 2 weeks after my 18th birthday… I think it’s more of a generational thing than a geographical thing that is keeping kids at home these days. I see kids lingering at home well into their 20’s back east too.[/quote]

Yeah UCGal,

I see this ALL the time with some American clients and especially my British clients. Most of my super wealthy clients are from the UK. And I find many of them just spoil their kids rotten to the point that the kids won’t accomplish anything in life in the future. So the parents that do this and not administering a bit of “tough love” are contributing to their kids becoming losers.

One of my British clients bought several properties that were supposed to be “investments”. Well, his sons talked him into “taking a year off from college and living abroad” to learn Spanish. Well, it went from being a supposed rental investment property to a place that his college drop out son moved into as a party pad. This was a few years ago and he still lives in it. Oh, did I mention that his younger brother now lives in one of the other ones.

If you see your brother partying, not going to school and having dad pay for everything….you might tend to want to do the same thing.

I realize this girl in the story above isn’t in that situation but I think you have to have a healthy mix because I know plenty of parents that should have kicked the kids out and taught them the world isn’t an easy place and money doesn’t grow on trees.

I also know someone that sounds like this girl in the story above. She was an employee for one of the companies I owned. Totally strange strange situation because she was a super intelligent girl. College degree, fluent in 3 languages. Well, one day she told me she was quitting. I asked her why as I was surprised she was leaving after working for me several years.

You can imagine my surprise when she told me she was engaged. I was shocked as just a few months before she was single. I asked where she met this guy??? Her answer? Facebook!!

So then she tells me she talks to him on the phone every night and they send emails all day. I mistakenly assumed she met him face to face. To be honest, I didn’t really want to hear too much because I thought she was totally stupid to get engaged to someone she knew nothing about.

Well, here’s the kicker….she said she was moving to the USA to live with him. So she quit her job, and was going to move to another country. I told her it was a mistake.

Fast forward to now. Last I heard ..sure enough the day before he is supposed to arrive to get her and help her move. She gets some random email from a gmail account saying it’s her fiance’s friend and that he died.

The sad part is she believed all of it. Later the guy admitted he was just playing with her. But reading the story of the girl getting engaged to the guy from online made me think of this. You have people doing totally stupid things.

[earlyretirement]

[quote=UCGal]I agree w early retirement… there are a lot of kids who aren’t working or going to school and basically need, IMO, a kick in the pants to stop sponging. I have a coworker who can’t figure out how to motivate his daughter into getting a job or getting serious about college. His wife refuss to consider the tough love approach, so they’re enabling her less than productive lifestyle.

And BG – I grew up in coastal San Diego in the 70s… I wasn’t ready for college when I graduated high school… but I got a job and moved out 2 weeks after my 18th birthday… I think it’s more of a generational thing than a geographical thing that is keeping kids at home these days. I see kids lingering at home well into their 20’s back east too.[/quote]

Yeah UCGal,

I see this ALL the time with some American clients and especially my British clients. Most of my super wealthy clients are from the UK. And I find many of them just spoil their kids rotten to the point that the kids won’t accomplish anything in life in the future. So the parents that do this and not administering a bit of “tough love” are contributing to their kids becoming losers.

One of my British clients bought several properties that were supposed to be “investments”. Well, his sons talked him into “taking a year off from college and living abroad” to learn Spanish. Well, it went from being a supposed rental investment property to a place that his college drop out son moved into as a party pad. This was a few years ago and he still lives in it. Oh, did I mention that his younger brother now lives in one of the other ones.

If you see your brother partying, not going to school and having dad pay for everything….you might tend to want to do the same thing.

I realize this girl in the story above isn’t in that situation but I think you have to have a healthy mix because I know plenty of parents that should have kicked the kids out and taught them the world isn’t an easy place and money doesn’t grow on trees.

I also know someone that sounds like this girl in the story above. She was an employee for one of the companies I owned. Totally strange strange situation because she was a super intelligent girl. College degree, fluent in 3 languages. Well, one day she told me she was quitting. I asked her why as I was surprised she was leaving after working for me several years.

You can imagine my surprise when she told me she was engaged. I was shocked as just a few months before she was single. I asked where she met this guy??? Her answer? Facebook!!

So then she tells me she talks to him on the phone every night and they send emails all day. I mistakenly assumed she met him face to face. To be honest, I didn’t really want to hear too much because I thought she was totally stupid to get engaged to someone she knew nothing about.

Well, here’s the kicker….she said she was moving to the USA to live with him. So she quit her job, and was going to move to another country. I told her it was a mistake.

Fast forward to now. Last I heard ..sure enough the day before he is supposed to arrive to get her and help her move. She gets some random email from a gmail account saying it’s her fiance’s friend and that he died.

The sad part is she believed all of it. Later the guy admitted he was just playing with her. But reading the story of the girl getting engaged to the guy from online made me think of this. You have people doing totally stupid things.

[earlyretirement]

[quote=UCGal]I agree w early retirement… there are a lot of kids who aren’t working or going to school and basically need, IMO, a kick in the pants to stop sponging. I have a coworker who can’t figure out how to motivate his daughter into getting a job or getting serious about college. His wife refuss to consider the tough love approach, so they’re enabling her less than productive lifestyle.

And BG – I grew up in coastal San Diego in the 70s… I wasn’t ready for college when I graduated high school… but I got a job and moved out 2 weeks after my 18th birthday… I think it’s more of a generational thing than a geographical thing that is keeping kids at home these days. I see kids lingering at home well into their 20’s back east too.[/quote]

Yeah UCGal,

I see this ALL the time with some American clients and especially my British clients. Most of my super wealthy clients are from the UK. And I find many of them just spoil their kids rotten to the point that the kids won’t accomplish anything in life in the future. So the parents that do this and not administering a bit of “tough love” are contributing to their kids becoming losers.

One of my British clients bought several properties that were supposed to be “investments”. Well, his sons talked him into “taking a year off from college and living abroad” to learn Spanish. Well, it went from being a supposed rental investment property to a place that his college drop out son moved into as a party pad. This was a few years ago and he still lives in it. Oh, did I mention that his younger brother now lives in one of the other ones.

If you see your brother partying, not going to school and having dad pay for everything….you might tend to want to do the same thing.

I realize this girl in the story above isn’t in that situation but I think you have to have a healthy mix because I know plenty of parents that should have kicked the kids out and taught them the world isn’t an easy place and money doesn’t grow on trees.

I also know someone that sounds like this girl in the story above. She was an employee for one of the companies I owned. Totally strange strange situation because she was a super intelligent girl. College degree, fluent in 3 languages. Well, one day she told me she was quitting. I asked her why as I was surprised she was leaving after working for me several years.

You can imagine my surprise when she told me she was engaged. I was shocked as just a few months before she was single. I asked where she met this guy??? Her answer? Facebook!!

So then she tells me she talks to him on the phone every night and they send emails all day. I mistakenly assumed she met him face to face. To be honest, I didn’t really want to hear too much because I thought she was totally stupid to get engaged to someone she knew nothing about.

Well, here’s the kicker….she said she was moving to the USA to live with him. So she quit her job, and was going to move to another country. I told her it was a mistake.

Fast forward to now. Last I heard ..sure enough the day before he is supposed to arrive to get her and help her move. She gets some random email from a gmail account saying it’s her fiance’s friend and that he died.

The sad part is she believed all of it. Later the guy admitted he was just playing with her. But reading the story of the girl getting engaged to the guy from online made me think of this. You have people doing totally stupid things.

[earlyretirement]

[quote=UCGal]I agree w early retirement… there are a lot of kids who aren’t working or going to school and basically need, IMO, a kick in the pants to stop sponging. I have a coworker who can’t figure out how to motivate his daughter into getting a job or getting serious about college. His wife refuss to consider the tough love approach, so they’re enabling her less than productive lifestyle.

And BG – I grew up in coastal San Diego in the 70s… I wasn’t ready for college when I graduated high school… but I got a job and moved out 2 weeks after my 18th birthday… I think it’s more of a generational thing than a geographical thing that is keeping kids at home these days. I see kids lingering at home well into their 20’s back east too.[/quote]

Yeah UCGal,

I see this ALL the time with some American clients and especially my British clients. Most of my super wealthy clients are from the UK. And I find many of them just spoil their kids rotten to the point that the kids won’t accomplish anything in life in the future. So the parents that do this and not administering a bit of “tough love” are contributing to their kids becoming losers.

One of my British clients bought several properties that were supposed to be “investments”. Well, his sons talked him into “taking a year off from college and living abroad” to learn Spanish. Well, it went from being a supposed rental investment property to a place that his college drop out son moved into as a party pad. This was a few years ago and he still lives in it. Oh, did I mention that his younger brother now lives in one of the other ones.

If you see your brother partying, not going to school and having dad pay for everything….you might tend to want to do the same thing.

I realize this girl in the story above isn’t in that situation but I think you have to have a healthy mix because I know plenty of parents that should have kicked the kids out and taught them the world isn’t an easy place and money doesn’t grow on trees.

I also know someone that sounds like this girl in the story above. She was an employee for one of the companies I owned. Totally strange strange situation because she was a super intelligent girl. College degree, fluent in 3 languages. Well, one day she told me she was quitting. I asked her why as I was surprised she was leaving after working for me several years.

You can imagine my surprise when she told me she was engaged. I was shocked as just a few months before she was single. I asked where she met this guy??? Her answer? Facebook!!

So then she tells me she talks to him on the phone every night and they send emails all day. I mistakenly assumed she met him face to face. To be honest, I didn’t really want to hear too much because I thought she was totally stupid to get engaged to someone she knew nothing about.

Well, here’s the kicker….she said she was moving to the USA to live with him. So she quit her job, and was going to move to another country. I told her it was a mistake.

Fast forward to now. Last I heard ..sure enough the day before he is supposed to arrive to get her and help her move. She gets some random email from a gmail account saying it’s her fiance’s friend and that he died.

The sad part is she believed all of it. Later the guy admitted he was just playing with her. But reading the story of the girl getting engaged to the guy from online made me think of this. You have people doing totally stupid things.

[CA renter]

[quote=briansd1]I think that it could be a cost-of-housing-as-a-proportion-of-income kinda thing.

In areas or countries where housing consumes a large portion of income, kids will stay at home longer into adulthood out of necessity.[/quote]

Definitely. Back when I was in college, my roommates and I rented a 3/2 apartment for $710/mo in a working-class, but decent-enough part of town in L.A. We could swing that rent, even though we all had low-paying jobs. These days, the rent for that apartment would probably run around $1,600-$1,750 (or more). The catch? Wages for the types of jobs we had have gone nowhere in that time. Those wages have gone up *maybe* 40%-60% since then.

So, while everyone is applauding the miracle of house price appreciation (and the rent increases that tend to go with it), the truth is that the working class hasn’t really seen any appreciable wage increases for decades, and their purchasing power has dropped significantly, while the upper-income earners and asset owners have probably seen their “wealth” and/or buying power triple or quadruple since then. The wealth/income gap is now HUGE, and it’s only getting worse.

[CA renter]

[quote=briansd1]I think that it could be a cost-of-housing-as-a-proportion-of-income kinda thing.

In areas or countries where housing consumes a large portion of income, kids will stay at home longer into adulthood out of necessity.[/quote]

Definitely. Back when I was in college, my roommates and I rented a 3/2 apartment for $710/mo in a working-class, but decent-enough part of town in L.A. We could swing that rent, even though we all had low-paying jobs. These days, the rent for that apartment would probably run around $1,600-$1,750 (or more). The catch? Wages for the types of jobs we had have gone nowhere in that time. Those wages have gone up *maybe* 40%-60% since then.

So, while everyone is applauding the miracle of house price appreciation (and the rent increases that tend to go with it), the truth is that the working class hasn’t really seen any appreciable wage increases for decades, and their purchasing power has dropped significantly, while the upper-income earners and asset owners have probably seen their “wealth” and/or buying power triple or quadruple since then. The wealth/income gap is now HUGE, and it’s only getting worse.

[CA renter]

[quote=briansd1]I think that it could be a cost-of-housing-as-a-proportion-of-income kinda thing.

In areas or countries where housing consumes a large portion of income, kids will stay at home longer into adulthood out of necessity.[/quote]

Definitely. Back when I was in college, my roommates and I rented a 3/2 apartment for $710/mo in a working-class, but decent-enough part of town in L.A. We could swing that rent, even though we all had low-paying jobs. These days, the rent for that apartment would probably run around $1,600-$1,750 (or more). The catch? Wages for the types of jobs we had have gone nowhere in that time. Those wages have gone up *maybe* 40%-60% since then.

So, while everyone is applauding the miracle of house price appreciation (and the rent increases that tend to go with it), the truth is that the working class hasn’t really seen any appreciable wage increases for decades, and their purchasing power has dropped significantly, while the upper-income earners and asset owners have probably seen their “wealth” and/or buying power triple or quadruple since then. The wealth/income gap is now HUGE, and it’s only getting worse.

[CA renter]

[quote=briansd1]I think that it could be a cost-of-housing-as-a-proportion-of-income kinda thing.

In areas or countries where housing consumes a large portion of income, kids will stay at home longer into adulthood out of necessity.[/quote]

Definitely. Back when I was in college, my roommates and I rented a 3/2 apartment for $710/mo in a working-class, but decent-enough part of town in L.A. We could swing that rent, even though we all had low-paying jobs. These days, the rent for that apartment would probably run around $1,600-$1,750 (or more). The catch? Wages for the types of jobs we had have gone nowhere in that time. Those wages have gone up *maybe* 40%-60% since then.

So, while everyone is applauding the miracle of house price appreciation (and the rent increases that tend to go with it), the truth is that the working class hasn’t really seen any appreciable wage increases for decades, and their purchasing power has dropped significantly, while the upper-income earners and asset owners have probably seen their “wealth” and/or buying power triple or quadruple since then. The wealth/income gap is now HUGE, and it’s only getting worse.

[Author]

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