The Obama 'Recovery': Number Of Millennials Living At Home With Mom Reaches 75-Year High

Tyler Durden's picture

Millennials finally get to claim a trophy for an achievement they actually earned (no participation medals here)...that's right, Millennials have officially set a 75-year record for highest percentage of young adults living at home with mom.  At just under 40%, Millennials are barely shy of the all-time record of 40.9% set in 1940, after the end of the Great Depression.  For once, we have every confidence that our young snowflakes will excel in crushing this longstanding record.  Per the Wall Street Journal:

Almost 40% of young Americans were living with their parents, siblings or other relatives in 2015, the largest percentage since 1940, according to an analysis of census data by real estate tracker Trulia.

 

Despite a rebounding economy and recent job growth, the share of those between the ages of 18 and 34 doubling up with parents or other family members has been rising since 2005. Back then, before the start of the last recession, roughly one out of three were living with family.

 

The trend runs counter to that of previous economic cycles, when after a recession-related spike, the number of younger Americans living with relatives declined as the economy improved.

Millennials At Home

 

We must admit that we're somewhat confused by the following data, from the Census Bureau, suggesting that the percentage of the population with college degrees has increased 5x since 1940.  Bernie Sanders and Elizabeth Warren assured us that spending 4-7 years drinking and partying at an institution of higher education, while incurring $100,000's of dollars worth of debt that will ultimately have to be absorbed by taxpayers, would automatically result in higher incomes which should then translate into higher household formation and economic growth, right?

College

 

Well, we're sure their is some other fantastic explanation as to why only 200,000 households have been created by the 5 million milliennials that have joined the "young adults under 30" cohort over the past decade...and this is just a guess but we bet it has something to do with Republicans and/or Russia. 

The result is that there is far less demand for housing than would be expected for the millennial generation, now the largest in U.S. history. The number of adults under age 30 has increased by 5 million over the last decade, but the number of households for that age group grew by just 200,000 over the same period, according to the Harvard Joint Center for Housing Studies.

 

Analysts point to rising rents in many cities and tough mortgage-lending standards as the culprit, making it difficult for younger Americans to strike out on their own.

 

“I don’t think those are challenges that are going to keep young households permanently out of the housing market, but it may keep their homeownership rate near historic lows for likely the indefinite future,” said Ralph McLaughlin, Trulia’s chief economist.

 

Household formation is closely correlated with housing affordability and income. Among those aged 25 to 34, 40% of those earning less than $25,000 headed their own household. The share rose to 50% for those earning between $25,000 and $50,000, and 58% for those with incomes above $50,000, according to the Harvard Joint Center.

Perhaps the problem isn't as complicated as Bernie and Liz think, maybe we should just try this guy's idea that millennials should stop playing video games in their parents' basements and get a job...it just might be crazy enough to work.

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Golden Showers's picture

And the number of moms who get their pussies licked = zero.

AllTimeWhys's picture

What's she DOING back there? i never know what she's DOING!

larz's picture

I bet when Michael and Bozo' s kids have to live at home they will realize why hope is gone

MillionDollarBonus_'s picture

This is more to do with a cultural shift than the economy. It wasn’t easy for Obama with Republicans in the house constantly blocking his progressive policy proposals – he wanted to do so much more. Despite this though, we had record low interest rates, positive NFPs almost every month, and one of the greatest stock market rallies in US history.

MOVE ASIDE TRUMP, CHINA IS THE NEW GLOBAL POWER
Lawn.Dart's picture

seriously dude!!??

Do you troll to get a rise?  or do you ACTUALLY believe that shit?  If it is the later, you have to pretend A LOT of bullshit.

The "stock market rally" is fueled by falsely inflating the dollar until the market cap to GDP gap is 6x what it was after 1990.

the O-bubble is 3 times worse than 2007.

Stuck on Zero's picture

Poor millenials. Since their jobs were sent to CHina they should move to China.

knukles's picture

Just think of all the budding Bill Gates code monkeying away for a better future.

Heavy's picture

Looks about like the last time...

LowerSlowerDelaware_LSD's picture
LowerSlowerDelaware_LSD (not verified) Heavy Dec 21, 2016 4:21 PM

I feel for the basement dwellers. I can hear the phone conversation, trying to get a date, now: "No, really, my Mom won't hear us and I have my own private outside entrance. So what if her bedroom is right above my living room. She's hard of hearing."

Click.

Golden Showers's picture

Dude, that's the last thing i would ever think of.

It's like asking why Weird Science was filmed. Let's move on.

I think Bill lived in a shit hole motel in Abq on College St.

Billy's Eugenicist Callfornian survivors have been through enough trauma.

If you really think of what you said, I'm worried for you.

Slingsby's picture

Don't let him get to you. It's really Krugman using a nom de plume.

I like how he blames it on a "cultural shift". Yeah. Nothing to do with economics. Hell, every guy I knew when I was in my mid 20's aspired to live with in their parent's house! /sarc

How the hell does anyone get laid anymore? "Yeah. I work part time at Starbucks and live in my folks basement... do you want to sneak in tonight and mess around?" is not really a persuasive pick up line.

Tactical Joke's picture

It's satire... and brilliant satire at that.

Lawn.Dart's picture

Something tells me MDB is a basement dweller.

Golden Showers's picture

I know. If only Obama made some more executive orders we would be better off and Jesus woud twinkle.

Glad you're home. Missed you, bro.

PS some people are so fucking stupid they don't know when to laugh.

Bubba Rum Das's picture

HeY, Look everybody! It's MDB (Millineal Dollar Bonus), posting from his Mothers Basement AGAIN!
He's probably bored after getting off from the evening rush @ McDonalds, where he has found 'gainful' employement whilst hiding from the collection agency's after him for his student loan debt acquired while working on his degree in 'Journalistic Communications'...

I was wondering when the TROLL would return; I was beginning to think he was gone for good after the last SEVERE BEAT DOWN he received here!

HeY, anybody see Eiriik Magnus Larson around? I believe he could use another thrashing!

Skiprrrdog's picture

The kids are rentals... do the math; one homo guy + one transvestite guy = 0 kids...

Rumor has it that at Mans Country, in one of the private rooms they have a picture of Obobo fellating a midget...

Skiprrrdog's picture

LOL... having an elementary school flashback? Here, let me drag myself down to your level... I know you are, but what am I... what a jackass...

Bubba Rum Das's picture

"Takes one to know one...."

Golden Showers would know!

HeY Rahm, aren't you also a member of 'Mans Country'?
So say's the 'Drudge Report'...!

larz's picture

You are not allowed to respond to my posts MBD you can't even look in my direction!

Golden Showers's picture

larz,

If you took MDB out of this for good, and hence your stupid comment, you would have nothing to quip about.

This is why you are gay.

I'm looking into your direction.

You don't know shit. I could kick your ass in a minue. You are weak. Just like all the faggots who claim they are Army Rangers who can't surf.

Fuck you. Get lost. You're all wet.

larz's picture

Where do you want to meet to kick my ass 

sun tzu's picture

On PMSNBC tonite:

0bama is bringing families closer together.

panhead20's picture

Seems logical that young adults are living with their family, since we are in the worst depression since the Great Depression.

Mikeyy's picture

And we have been since 1960 when the number bottomed and has been climbing ever since.  A solid 56 year rise.

 

Damn that Obama...

underman's picture

I know multiple couples, with children of their own, who have, or are seriously considering moving into mom's basement.  These people are pushing 50!  Can't buy a house, rents are sky-rocketing. 

And some people aren't interested in growing up, or working.  Sitting on the couch is just so damn easy.  Lazy selfie generation.  They call their mom by her first name.  RESPECT!

richsob's picture

If I had called my Mom or Dad by their first name I would have been knocked half way across the room.  I called my mother "Mom" nearly all my life and I called my father "Dad".  I often answered my Dad with a "yes, Sir".  There was nobody who was loved more than my sister and I by our parents.  We returned that love with some honest respect.  What the fuck is wrong with these kids today?!

Stuck on Zero's picture

Many of these kids are living with not only their parents but with their four illegitimate kids. All on welfare.

Kefeer's picture

Nothing; it is that your parents and grand-parents generation went from teaching the moral principals found in Scripture, the basis of true morality to not teaching at all and worse, allowing the Satanic public school system and the liberal churches teach human secularism; another religion of Satan.

Still Losing Money's picture

and what job are these lazy people suposed to get? the one shipped to china or the one beng done by the illegal or H1B visa type? you supported trump because obama wasn't creating jobs and now say these "lazy" people are supposed to get off their butts and get one of the NON_EXISTANT  jobs that obama didn't create. you talk out of both sides of your face

ceilidh_trail's picture

We had some of these bounce back aholes move in next door. Their elderly mom was dying of lung cancer and the slob son-in-law couldn't even be bothered to cut the grass more than once every three weeks. The grandkids ran all over the neighborhood and I had to set the daughter/mom right one day about respecting my property. Problem solved itself when my poor neighbor died and the crap moved out in the middle of the night. Funny, a year later my other neighbor and I were chatting and he let it slip that his coworkers (local PD) were looking for the son-in-law. Lot's of these jerks are just bums and a good economy wouldn't make them any better. Obamanomics just raised the number of 'em.

zuuma's picture

dammm millenials.

livin' in mom's basement since 1939.

 

who knew?

Dr. Richard Head's picture

Thanks to my gold-digger ex, the divorce attorney, and an eggregious amount of spousal and child support, I had to move back in with my father and step-mom for awhile until I got on my feet.  

Dumb ass gold digger - https://soundcloud.com/tim-gandee/gingermon-gold-diggah-without-winter-m...

RafterManFMJ's picture

Semi auto rifle or balls - I'm curious which one you lack?

Dr. Richard Head's picture

Actually just had a third testicle removed recently.  Additionally, I'm too pretty for prison. 

Graph's picture

Good reason not to call other people who had to do that too "lazy fucks".

Who in his right mind would not prefer to have a good job, form a family, buy a house and all.... to living in the parent's basement ?

Times had changed.

Kefeer's picture

As one who lost their health; work is such a blessing and no one can realize just how much it is until it is taken away.  Living a day at a time and glad to know where I came from, why I'm here and where I'm going!!

Bubba Rum Das's picture

"dammm millenials.
livin' in mom's basement since 1939."

Yesss, it's like the 'People in the Crawl-Space', must make movie...

Golden Showers's picture

Zero. Unless mommy buys a jar of Skippy Peanut butter and Babs the puppy goes to town.

Don't have much hope for the kids, though.

Golden Showers's picture

Make that -3.

For all three of you mommies with children in the basement who went on Craigslist. You are fat. So fuck you you disgusting whores.

Kefeer's picture

You are one sick homo; your name says it all.  We all assume you piss all over yourself.

Golden Showers's picture

You lack a sense of humor.

Golden Showers is the idea that Gold will bring you wealth and security.

Then I piss in your face. And you like it.

Arms up, kiddoes! Golden Slumber fills your eyes. Sleep little Judas do not cry.

Fuck you for judging me. But you can always ask and I'll tell you straight up.

Since you think you are a lion... I'm 3rd Decan Leo.

You're a bitch.

I'm neither a homo nor sick. I work 40 to 60 hours a week. I love my wife. I'm male and I have 2 children whom I would die for. I lick my wife's pussy and I love that so much it is not even rational to discuss it. That is my pleasure. So it takes one to know one. I have intercourse too. So if that is your problem you can eat the peanuts out of my shit.

Who the fuck are you to judge me? You are a butt hurt asshole.

I'll tell you something: You see a name, suck your bosses dicks, worry about your investments, talk about return and dance like niggers.

Fuck you. Fuck you and die. Fuck what your heard. I'm hear to piss on your face and you love it.

Up your fucking ass. You need to tell me something because otherwise, go back to your safe space and enjoin your twins you stupid assholes.

 

Miffed Microbiologist's picture

Wow, I guess going cold turkey on SSRIs really isn't a wise move. I guess I'll stick to Scotch.

Miffed;-)

Golden Showers's picture

You're right. I'm glad we had this talk.

It's perfectly alright if you do not like me. That is well. I couldn't change your minds any more than you could.

What really matters to me is that you don't dislike me. Because I am a pussy.

It hurts me when you give me thumbs down. I feel so bad.  You hurt my feelings.

And then...

Then...

NOPE. You're a bunch of pussies and fuck you.

Fuck you.

Fuck your mom.

Pay her back for tuition you greasy shit stains.

LyLo's picture

Yep, no one hurt your feelings.  Clearly.  (Over downvotes?  Really?  lol)