Millennials are still living at home. In fact, young adults living at home with their parents is now more common than at any other time in modern history. Does this mean millennials are doomed?
According to a new report from the Pew Research Center, United States millennials (18 to 34) living with their parents has overtaken other living arrangements, such as living on your own, living with roommates, living with a spouse or cohabitation. And young men are more likely to live with a parent than their female counterparts.
What’s happening? Well, it’s not because kids just want to stay home all day and do dope, play video games and hang out. Researchers say it’s because of romantic decisions and a paucity of economic opportunities.
Since the Census Bureau started to track living arrangements in 1880, the most common living arrangement for young adults was to live with a significant other or a spouse. This began to dip in 1960, when two-thirds of young adults did this. Today, that number has fallen to 31.6 percent.
“For earlier generations of young Americans, one of the major activities that they were focused on was partnering, forming a new family, maybe with children,” said study author Richard Fry. “For the first time, instead, what we see is they’re not focused on family and forming a household.”
So, why aren’t millennials getting married? They’re still focusing on paying off their student debt and finding high-paying jobs in their field of study. Therefore, with too much debt and not enough employment income, those 18 to 34 can’t get married, can’t buy a home or even live on their own.
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