For a variety of reasons, young adults are more likely to live at home than ever. Among these reasons are: to finish school, to reduce spending, to save money after completing school, to begin repaying college debt, and to avoid certain household tasks.
According to the Pew Research Center, more young U.S. adults now live with their parents than before:
“In 2014, for the first time in more than 130 years, adults ages 18 to 34 were slightly more likely to be living in their parents’ home than they were to be living with a spouse or partner in their own household. This turn of events is fueled primarily by the dramatic drop in the share of young Americans who are choosing to settle down romantically before age 35.”
In industrialized countries other than the United States, how many young adults live with their parents? As Niall McCarthy reports for Statista:
“In many countries around the world, a huge proportion of young people still live at home with their parents. According to an OECD report, that trend is most pronounced in countries badly hit by the global financial crisis, particularly in Italy, Greece and Spain. 8 out of every 10 Italians aged between 15 and 29 still lived at home with their parents in 2014. In Scandinavia, youth living at home is a rarer phenomenon. In 2014, only 35 percent of young Swedish people still lived with their parents.”
You will find more statistics at Statista.
Personally, I live with my mother at home. Agreeing with the following statement, one of the main reasons can be attributed to the fact that I am still in school. What is surprising when looking at the global live-at-home statistics is that South Korea is not included in the top 20 nations.
From what I know, my mother (South Korean) opposes the idea of a female moving out alone or with a boyfriend until she was married. I just assumed that all other Korean parents thought the same way. More women in South Korea are not getting married for career advancements or because women are becoming more individualistic beings. That being said, I expected more and more South Koreans to be living at home with their parents. After researching, I found unexpectedly that 1 in 5 households are those who live alone and is likely to keep growing until the probability is 1 in 4 households by 2030. I realize that the traditional culture that once was is no longer. I personally believe that the trend to live with parents will change depending on how culturally affected each country is by more developed countries (For example, South Koreans love American culture).
Interesting!
I think being able to live at home for as long as necessary is a great thing to do. There are so many advantages that come to doing this beyond just financial issues. Being close to your family is something that a lot of people take lightly in the world today but it is very important. Of course there is a limit to how long you are living off your parents money. If it is possible, I think it is a great solution to any financial problems a long with the benefit of being able to stay close to family.
I assume that countries in this percentage of living with parents list are highly merged into the global finance system. And these 15 nations had a serious financial crisis due to the subprime mortgage crisis since 2008. For example, Greece and Turkey were on the verge of bankruptcy several years ago. This is only a hypothesis Please correct me if I am wrong.
This is just one reason. Others are cited in the post.
It happens in many countries that many adults live with their parents. It has reasons. But personally, i do not like to live with them, i prefer to live along or with my friend, even i will cost more in renting the house and do the housework.
I have almost totally different living habits with my parents which is no right and wrong, and i do not want to give up to them. I think my habit helps me to feel free and better keep up with friends. Living with them, I have to listen to my mom and do as her words. That is the most important reason that I move out home.
In China, many young adults live with parents mainly because of the rent. Some of them are not even graduated yet so that they do not have a job to get paid for rent. Massive young folks live with their parents because they cannot cook—-yes, that is true! Personally, I would like to choose to live alone when I graduate because I really need personal space. On the other hand, paying the rent alone will motivate me to work harder in my career.
It is not surprising that the average young adult is more inclined to live at home than ever. Clearly, with events such as the Recession of 2008 and some natural disasters that occurred in the 21st century, the economy has not been as strong as in past decades. Additionally, the statistical notion that the marriage rate is down ultimately correlates to more people staying at home. Young adults these days are less inclined to get married, so there is ultimately less of an incentive to move out quicker to start a family. Finally, for many college students, the effects of an expensive education of played dividends into the inability to move out. From finances from college, which continues to increase significantly each year, students who take out loans are struggling to have the disposable income necessary to afford an apartment. Through the economic recession, the expense of education and the fall of the marriage rate, young adults are living at home more likely these days.
Moving out means you have to provide for yourself. Many young adults don’t have the resources or the skill to do that yet. Living at home means you aren’t paying the bills and theres food in the fridge that you aren’t responsible for paying for or cooking There are also some cultural reasons as well. In my culture, girls don’t move out until they are married.So not only is money a weighing factor, but culture does pay a role.
🙂
I think having the capacity to stay home for whatever length of time that is a great thing to utilize. There are such a large number of points of interest that come to doing this past simply budgetary issues. Being near your family is something that many individuals mess with on the planet today yet it is essential. Obviously there is a point of confinement to what extent you are living off your folks cash. On the off chance that it is conceivable, I think it is an awesome answer for any money related issues a long with the advantage of having the capacity to remain nearby to family is priceless!
I agree with this study and I see having the opportunity to live at home as a young adult to be beneficial. From a personal standpoint I have friends that have recently graduated college and have embarked upon the job search and or their first job. They have chosen to live with their family for similar reasons noted in this post. They are doing this to save up money for the future, with graduate school on the horizon, and in order to pay back their student loans in a timely manner. In addition, I think having a positive relationship with family members where there is a mutual respect for each other and their privacy is imperative. Although the young adults chose not to live on their own it is crucial that they are treated with a certain level of courtesy and have the ability to thrive and grow, through their personal choices, the way they would if they were living independently.
I agree with this study and I see having the opportunity to live at home as a young adult to be beneficial. From a personal standpoint I have friends that have recently graduated college and have embarked upon the job search and or their first job. They have chosen to live with their family for similar reasons noted in this post. They are doing this to save up money for the future, with graduate school on the horizon, and in order to pay back their student loans in a timely manner. In addition, I think having a positive relationship with family members where there is a mutual respect for each other and their privacy within the household is imperative. Although the young adults chose not to live on their own it is crucial that they are treated with a certain level of courtesy and have the ability to thrive and grow, through their personal choices, the way they would if they were living independently.
Having to move back home after graduation has been a concern of mine since I started college so this post immediately caught my eye. This post mentions that young adults in the US are choosing to live at home longer primary because they aren’t settling down romantically until later in life. I understand that the average life plan of an American young adult has changed drastically over the past few decades but I find it hard to believe that that aspect has more to do with the trend than the economic factors. Most people I know who are in their twenties want nothing more than to be on their own and out of their parents’ home, however, their financial position prevents them from doing so. In this era, young adults have large student loans they need to pay off and they’re also faced with a more competitive workforce which prevents them from becoming employed immediately after graduation. These factors put young adults in a position where they have virtually no choice but to move back home and save their money. While this isn’t the case for everyone, I feel as though much more people living with their parents would blame their situation on this rather than their lack of a desire to settle down romantically.
Actually in China, most young adults do not leave home if they are in the same city with their parents. Because they do not have enough income before graduation and moving out means you have to pay the rents, which can be a great pressure for a young adults. And you also need to spend time on housework. But the parents also prefer their kids to live with them, because they always worry about their kids. For me, if I have enough money to afford the rents, I will leave home because I have the different living habits with my parents and I think I should be more independent after I start working.
Leaving home after college is something that I think about often. I have always wanted to move into NYC once I finished with school but the financial burden has been why I am thinking that I may have to stay at home for a year or so after graduation. I am lucky enough that I would be able to still live at home and commute into Manhattan, as many people do not have choice to save and stay home and just need to go to where the jobs are. I think many people do want to move out and not just for romantic reasons. Most of the time people choose to stay at home after finishing school, from people I talked to, is simply because they can not afford it. Rent is extremely expensive and with college debts rising, it is smarter to live at home for as long as they can to help start to pay back loans and start to save a little. Those who feel the need to get out of the house just suffer with the debt and would rather worry about the money and live alone. It is a tough decision because most of the time it has been reenforced in our minds that after college you have to leave home and start your own life. But in this time, it makes more sense to stay at home as long as you can and feel comfortable to save and get your feet on the ground and start off walking rather than running full on into adulthood. Baby steps are important and no one likes debt so this article makes sense to me, that as college tuition increases, so does people living at home.
I think the main thing contributing to the increasing percentage of young adults living with their parents is the rise in tuition. The rise in college tuition has students taking out more expensive loans, which makes them unable to move out of their house. By paying a rent at their parents house, or even staying for free, frees up a ton of money to focus on paying back debt. I expect this trend to continue as long as students keep on spending ridiculous amounts of money for school.
Living at home will get away a lot of living problems for young adults. Before leaving home, I don’t need to be worried about what to eat and where to pay utilities. However, I need to take care of myself on everything and it really makes me become much stronger. If more and more young adults tend to live at home, companies should also response to this trend. For example, potato chip package could be bigger than before so that people could share with their family.