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Stay-At-Home Adults On The Rise

WELCOME TO THE “NEW NORMAL” || By FITSNEWS || The number of Americans who live at home with their parents is surging, new numbers from the New York Federal Reserve reveal. For twenty-five and thirty-year-olds, “parental co-residence increased steadily … from at least 2003 through 2012,” according to an analysis…

WELCOME TO THE “NEW NORMAL”

|| By FITSNEWS || The number of Americans who live at home with their parents is surging, new numbers from the New York Federal Reserve reveal.

For twenty-five and thirty-year-olds, “parental co-residence increased steadily … from at least 2003 through 2012,” according to an analysis of the data posted to Liberty Street Economics (a publication of the New York Fed).

“While thirty-year-olds were twice as likely to own a home as they were to live with their parents in 2003, we find that they were equally likely to own a home or live with their parents in 2013,” the analysis concluded.

Wow … that’s the most damning indictment of the American economy we’ve seen in some time.  Or at least in the last few weeks.

“Why might young people increasingly reside with their parents?” the analysis mused. “They may be unable to find employment, they may be saving their income to pay down increasing levels of student debt, or they may be unable to afford the rent for an apartment in the face of lower income or higher housing prices.”

Check, check and check … in other words.

Viva la recovery, right?

Take a look …

(Map: Via)

Yeah … like a virus of anti-competitiveness spreading.

Oh, and here’s what the trend line looks like compared with declining homeownership (a.k.a. the “American Dream”).

(Click to enlarge)

home owners

***

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48 comments

Rocky February 4, 2015 at 1:28 pm

Or they just like living with Mom and Dad because Mom does the laundry and Dad hasn’t completely lost his mind yet. I had a friend after college who lived with his parents until he was 31 years old – always employed with great jobs at good companies. Just liked the lifestyle I guess. I know 25-30 year olds who still live at home – Mom’s divorced and they feel they have to stay. It’s not the economy – we’re becoming Italianized.

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FastEddy23 February 4, 2015 at 1:35 pm

Mmmmm … might be a good time to sell the house … and sell the farm too … before the next giant real estate bubble.

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a face in the crowd February 4, 2015 at 1:56 pm

You have a file photo of Terry Bradshaw?

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Mark M. February 4, 2015 at 1:57 pm

Some of these “kids” are helpless too. When your parents do everything for you, your entire life, the ability to care of yourself is minimal. Or, the person is just a clueless lump of flesh.
I know a girl who is a college graduate, but is as dumb as a bag of hair. If she had to move out on her own, she’d be dead in a month. No idea how to pay bills, provide for herself, or do the simple day to day things. 27 years old. Part time job.
Blame the parents for not preparing their kids for the World.

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Smirks February 4, 2015 at 2:22 pm

Blame the parents for not preparing their kids for the World.

Absolutely. I see plenty of young people well after their college years (some with a college degree, some without) who have moved out but still get money from their parents in some form or fashion. Most of the time it is their parents paying their student loans, car insurance, credit cards, or other “little” things, but I’ve seen it as bad as the parents essentially paying their kid’s mortgage.

Nothing wrong with helping your kid out when they need it, but some of these parents never cut the cord.

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FastEddy23 February 4, 2015 at 6:08 pm

For some: Mom should write out a lease for the room(s), write invoices/bills for food, fone and fuel, send the big babies down to the welfare office(s) for food stamps, rent subsidies, O’BummerPhones … That’s how it’s done in New York City.

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george jefferson jr. February 5, 2015 at 9:44 am

The 5.6 percent unemployment rate being trumpeted by the White House, Wall Street and the media is a “big lie,” the head of the Gallup polling firm says.

“None of them will tell you this: If you, a family member or anyone is unemployed and has subsequently given up on finding a job — if you are so hopelessly out of work that you’ve stopped looking over the past four weeks — the Department of Labor doesn’t count you as unemployed,” the venerable firm’s chief executive officer and chairman Jim Clinton, writes in his blog.

Read Latest Breaking News from Newsmax.com http://www.Newsmax.com/Newsfront/unemployment-rate-big-lie/2015/02/04/id/622809/#ixzz3QsjHIWVo

Go figure.

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FastEddy23 February 5, 2015 at 12:05 pm

Good catch, George …

Gruberment big lies synonymous with other polls: http://www.gallup.com/poll/171992/americans-losing-confidence-branches-gov.aspx

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GrandTango February 4, 2015 at 2:18 pm

Duh….and FITS is dumbstruck. ..imagine that….LMAO…

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Saluda Rapids February 4, 2015 at 2:20 pm

Struck a nerve, huh Chazz Reinhold? “Mom, the meatloaf!” LMAO…u r pathetic.

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GrandTango February 4, 2015 at 3:04 pm

Do we feel relevant now???…LMAO…

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T's First Sleepover February 4, 2015 at 6:07 pm

Ah, Tango…I remember as kids hearing your mother giving social advice: “Remember, son, laugh out loud and the world laughs at you…”

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Squishy123 February 4, 2015 at 3:06 pm

Chazz Reinhold, does he look like Chazz Bono?

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BK February 4, 2015 at 2:54 pm

There’s only a subtle connection between the lead photo and the content herein. The photo is from the movie Failure to Launch, I believe. Not many FITS readers will get the connection (movie didn’t sell well as I recall). This story could have accumulated a lot more traffic had FITS used GrandTango’s Disqus profile pic. Somewhere in a Lexington suburb sits a lonely, slovenly, obese man in his parents’ home, whose visions of creating a viable online presence were slowly betrayed by his unabashed attempts to steal audience from a legit blog as he spent more time posting comments on his rival’s than his own. Seriously, GT, how can you spend all this time on Will’s blog and yet tout your own? Your very presence here relegated your blog to dated at best, obsolete at least.

I comment very rarely on this site, but seeing your moniker and pic on EVERY single page of FITS is tiring. I’ve often wondered if you are on Will’s payroll. If you’re not, then my advice is that you should be. Perhaps you can get overtime for those times you post as Flip?

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GrandTango February 4, 2015 at 3:03 pm

So you’re NOT compelled to post in response to my “Rival” but you gush in abundance about the ” lonely, slovenly, obese man in his parents’ home”….Who has “visions of creating a viable online presence”….

Either you cannot comprehend your own words…or you’re a pretty stupid MoFo…LMAO…

IOW: Either I’m viable…or you’re a Dumb@$$ for spending so much time on me…Hahahaha…

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BK February 4, 2015 at 3:10 pm

You are correct. I’m an idiot for giving you the time of day. That should give you conversation fodder as you dine and loaf in your parents’ home, trying to persuade them of the pending resurrection of your failed blog.

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E Norma Scok February 4, 2015 at 3:55 pm

I still think he is a Fits fake account just used to drum up comments on here.

Nobody can be as stupid as he is.

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BK February 4, 2015 at 4:04 pm

Sadly, he does exist. I’ve been to too many Lexington County GOP meetings to dissuade me of his (and his multiple monikers’) existence. He and his ilk are what gave us Knotts, Metts, Frazier, Bauer, Loftis, Haley, Eckstrom and Myers.

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Rocky February 4, 2015 at 2:21 pm

DOnt’ Bauer and Graham live with their parents?

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Rocky February 4, 2015 at 2:22 pm

And GT and Sandi and Flip? Oh that’s right, Flips up in Ohio this week ending his union meetings.

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Stinkbait February 4, 2015 at 8:26 pm

Rocky, you’d have done better to keep quiet & leave a little uncertainty about how uninformed & petty you are. Sen. Graham’s parents were killed when he was 18 & he suddenly found himself the legal guardian of his 13 year old sister. With very little help from anyone; he provided a stable home, insured she was educated & raised properly. Since then, he has served this country with distinction both in uniform & in the US Congress. How do you measure up, Piss-ant?

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Rocky February 5, 2015 at 9:12 am

I stand bitch slapped – and deserved it.

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grandtangoesuglydog February 5, 2015 at 12:26 pm

no problem Rocky…you and I both have zero character and I don’t mind sharing the sewer with you my friend…

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grandtangosuglydog February 5, 2015 at 1:55 pm

ahhh i see little boy grandasshatliar/flip/sandi/pogo is back using my name..guess i should be flattered.

rOcky gutter dweller February 5, 2015 at 9:15 am

Thank you for exposing this lying POS.

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Yep February 5, 2015 at 9:54 am

Amen! Graham is a selfless individual.

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Rocky February 5, 2015 at 11:09 am

Stinkbait – just to be fair – I truly do apologize for my comment. It was inappropriate, and I regret having made the comment. My desire to poke fun was taken too far. Regardless of anyones feelings about Senator Graham, my comment was wrong, and should not have been made. I am sincerely sorry.

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Stinkbait February 5, 2015 at 11:30 am

Rocky, That’s fair enough. I understand & admire your willingness to man-up. Many of us get seized by the moment here on this site. Your apology is appreciated & a much better measure of your character. Thanks

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Rocky February 5, 2015 at 1:43 pm

I don’t mind eating crow. I don’t like it – but when I have to – I have no issue doing so. My character – however – may still be up for debate.

Squishy123 February 4, 2015 at 3:05 pm

When I was growing up, we just called losers, slackers, and mama’s boys.

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grandtangosuglydog February 4, 2015 at 3:35 pm

Nowadays we just call them Grand T!

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Rocky February 4, 2015 at 5:02 pm

Dang – you on today man!

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FastEddy23 February 4, 2015 at 6:10 pm

Now they are just Occupiers and ACORNs.

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Bible Thumper February 4, 2015 at 3:25 pm

Obama solved the healthcare problem. What we need now is a program that provides every adult with a home.

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FastEddy23 February 4, 2015 at 6:14 pm

Here, just sign away the title. (I’m tellin’ ya, there is another real estate bubble coming.)

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euwe max February 4, 2015 at 4:23 pm

adults living with parents… taking care of their parents because their parents had their retirement given to the banks by Bush for a bailout.

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FastEddy23 February 4, 2015 at 6:11 pm

Yes, of course … So tax the banks.

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euwe max February 4, 2015 at 6:13 pm

How about regulating the risk they take?

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Point of Order February 4, 2015 at 10:39 pm

Your suggesting an entity that hasn’t balanced a budget for 43 years watch the finances of banks it shovels newly created money towards….

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Point of Order February 5, 2015 at 8:14 am

*You’re

FastEddy23 February 5, 2015 at 8:58 am

The Gruberment did that already = Dodd-Frank = banks not risky, untaxed, more bailouts expected.

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xx February 4, 2015 at 6:18 pm

Hum… let’s not forget about the “Over 40” crowd receiving checks from Dad so that they DON’T move back in.

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SCBlues February 4, 2015 at 6:27 pm

Aren’t they now breastfeeding well into the teenage years?

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sparklecity February 5, 2015 at 9:51 am

This is”kinda/sorta” related but wait till the “Boomers” start developing Alzheimer’s at an accelerated rate.
Estimates are that cases of Alzheimer’s will rapidly increase in the next 10 -20 years and will reach an almost unmanageable situation wihch will definately compete for scarce financial resources.
it could be that that is one reason for some of the offspring living at home to take care of their parents because they can’t afford any other type of care.
I’m a “Boomer” myself and my beloved father developed Alzheimer’s after being one of the healthiest 75 year old men you ever met (never smoked or drank and worked in construction till he was 72 & retired). I was the primary caretaker and I know how very difficult it is to take care of someone with stage 2 Alzheimer’s. We finally had to put him in an Alzheimer’s care unit and it was over $4,000/month (not including medical costs!)

That is the dark cloud looming over the horizon and no fucking body wants to pay attention to what is coming (especially the “Great state of South Carolina”).
My family was fortunate that we did not have to liquidate every single thing he and my mother owned to pay for his upkeep but I personally know 5 of my friends who had to do just that.
When this shit peaks, many in this state and country will have no choice but to leave their parents in custody of the state or just let the “Great state of South Carolina” let them die in the woods or get run over by a car when they wander off because they won’t be able to afford care for their parents.
A SHITSTORM IS COMING AND LIKE MOST EVERYTHING ELSE THIS STATE HAS ITS HEAD IN THE SAND UNDER THAT GLORIOUS PALMETTO TREE!!!!!

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Spartanburg is a dump February 5, 2015 at 9:57 am

At least you have explained why you are so damn bitter. Go back to Ohio.

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sparklecity February 5, 2015 at 10:18 am

You are full of shit – what makes you think I’m from (or ever lived in) Ohio?????
I’m not bitter, just saying what experts in demographics are projecting and what I know from personal experience
When Alzheimer’s rears it ugly head (even more than it is at present) and the population of individuals swell with the affliction over the next 10 – 15 years, the “Great State of South Carolina” will have to come to terms with it by way of caring for these individuals when noone else can care for them – and that’s going to cost taxpayers like hell.
Either that or ” the Great State of South Carolina” lets them die which will make the “Great State of South Carolina” a no-shit death squad.
I can see the headlines now and I get no pleasure in forecasting that.

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Lennon Durden February 7, 2015 at 1:04 pm

The Blame game. I blame OBAMA. He has told these douche bags they’re entitled to
• free health care (on my dime)
• free cell phones.
• free junior college
• free amnesty if they’re an illegal alien (& who said it no fun being an illegal alien)
If your wacky socialist Muslim communist propaganda spouting president says you get free stuff … What incentive is there in earning money and making your own way in this world?!? The president says I gots to get paid!!!
Media reinforces this message
Parents are victims.
I despair for this world. People have no collective ability to use common sense or rational thought

And who pays the price (in taxes, wages, cost of living etc etc) for all this ?!?!
You and I do

Me for president.

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