Why can't today's young adults leave the nest? Blame high housing costs
Nearly one-third, or 31%, of Gen Z are living with their parents because they can't afford to buy or rent their own space, according to a recent report.
There is a discussion on Hacker News, but feel free to comment here as well.
I know quite a few people in this situation, but mainly the demographic where I live.. but most people still living at home just don’t want to work, and living at home is their gateway to this lifestyle… up all night gaming or watching movies, aspiring streamers..
I think most of them will grow out of it as money is a great motivator to getting out there, but there parents also seem to feel powerless to get them moving, or actually prefer them living there
I call bullshit. Read Hunter Thompson's 'Hell's Angels.' There's a chapter where he runs down the economics of being a biker/hippie/artist circa 1970. An Angel could cut their hair and get a Union job as a stevedore and earn enough in six months to spend the next two years on the road. A part time waitress could earn enough to support herself and her musician boyfriend.
In 1960, minimum wage was $1.00/hour and the cost of the average house was $11,000.00 If wages had kept up with inflation, the minimum wage would be about $35.00/hour.
Also, in 1960, $1 million was considered a vast fortune. Now it's what a rich guy pays for a party.
