Happy Mothers Day America: 12 Million Millennials Still Live With Their Moms

Mother’s Day is tomorrow, and a new Zillow analysis finds 22.5 percent of millennials age 24-36 are living their moms or both parents, as this alarming trend is up more than 9 points since 2005.

Nearly 25 percent (12 million young adults) of all millennials will travel lightly this Sunday because most of them reside in their parents’ basement. On the bright side, that could translate into 12 million fewer drivers on the road; however, this is not good for a consumption-based economy.

Despite the Central-Bank-free-money-anything-goes-induced ‘economic recovery’, the total amount of millennials living with their parents had exponentially increased since 2005, when just 13.5 percent lived in their parents’ basement.

According to the Zillow analysis, the combination of inflated rents, housing affordability, and wage stagnation over the last decade have driven many millennials back to their parents’ basement, but the report notes the trend has increased even though the U.S. labor market improved. Nearly 12 percent of millennials living with their moms are unemployed, while “28 percent of recent college grads live with their parents, up from 19 percent in 2005,” said Zillow.

“As rents outpaced incomes over the past decade, young people turned to their families in large numbers to ease the housing cost crunch,” said Zillow senior economist Aaron Terrazas.

“But even as the labor market has improved, the family safety net has yet to unwind. Living with parents may allow young adults to pursue work or a passion that may not be especially lucrative, or save enough money for first and last month’s rent or a down payment on a home of their own. In booming Western markets, relatively few young adults live with parents, not because rents are cheap but because family is far away. There is also a small slice of this young adult population that has mom living with them instead. Perhaps mom needs extra care as she ages, or has moved in with an adult child to help raise her grandchildren,” he added.

“You would expect young adults living at home to return to historic norms,” said Terrazas, explaining how the economy has recovered from the housing crash. “But the trend has not decreased — if anything, it is increased.”

Terrazas said housing prices had outpaced wages, which is the primary reason why millennials are not buying homes.

According to the National Association of Realtors, student loans have become a significant obstacle in homeownership for millennials. About 80 percent of millennials age 22 to 35 with vast amounts of student debt have not yet bought a house, and blame their student debt on delaying crucial life decisions.

Here are the top cities in which millennials reside with mom.

Thanks to a decade of central planning and trillions in liquidity, one can only imagine how thrilled millennials will be when the next recession, or rather depression, hits. This lost generation of hopeless, heavily indebted souls could remain in their parents’ basement for an extended period of time, all thanks to the historic accumulation of debt, and unprecedented shifts in demographics and automation, which will only accelerate into the 2020s.

Comments

IridiumRebel J S Bach Sun, 05/13/2018 - 08:55 Permalink

My mom does. I send her articles.

The blame for this should be on the Fed and Higher Education for selling these chumps on the lie that a college education was so necessary.

Happy Mothers Day......

 

The best defense to this progressive horseshit is a strong family and shedding light on their evil. This is where the resistance should be.

In reply to by J S Bach

Stuck on Zero Croesus Sun, 05/13/2018 - 10:23 Permalink

In California millennial males finally trade Mom's place for a cozy spot in jail with the Feds, state, or local facilities. If not there's always the cardboard shelter under the bridge. Millennial females get pregnant and move into Section 8 housing courtesy of the state again. You see, in California houses don't have basements.

In reply to by Croesus

nmewn Croesus Sun, 05/13/2018 - 10:24 Permalink

Mine is no longer with us, she's in Heaven looking down on us with that knowing smile and sideways look all Mom's have that say's "I told you so." without a word ever being spoken. 

But because I know she's up there looking down...Happy Mothers Day Mom, I love you ;-)

In reply to by Croesus

The Real Tony nmewn Sun, 05/13/2018 - 19:42 Permalink

My mother died for real the third time on her birthday just like she always said before she died. Fortunately she did prevent thousands of people from dying on airplanes on Trans World Airlines. She could have changed a lot of future history but I'll never know if she was a part of the future and those people would have actually lived. JFK may have lived longer but got murdered anyway among other things. Like she said before she died she come back as electricity and turns lights off and on and knocks out power in restaurants and malls where me and my sister eat lunch on a regular basis. She also rings the phones pushes the buttons and I trace the numbers to find out where she's phoning from.

In reply to by nmewn

Ms No a Smudge by an… Sun, 05/13/2018 - 10:21 Permalink

What do you mean a ditch?  You mean buried right?   Don't worry he is still out there.  Ask for messages and signs in dreams or otherwise.  I don't do that too often while awake because I don't want to be dissappointed but when I periodically do I always get something.

Last time I asked for a sign from the afterlife was about a month or so ago while thinking about how my uncle would pass soon and he would be last of his generation (Dad was his brother and he had two other siblings) and how I hoped he had somewhere to go.  

Exactly when I finished asking five lemons dropped simultaneously, three rolled together in one direction and stopped in a bunch (them) and one other rolled off separate.  That extra was representative of another relative unrelated to them that died same year most of them did.  I have also gotten little white feathers falling out of the sky when asking, repeatedly.  Dreams are better though and more successful  Just ask.

In reply to by a Smudge by an…

Fireman Labworks Sun, 05/13/2018 - 09:07 Permalink

There's "no blame" other than the free lunch for anglozionazi war mongering ghouls using the blood-soaked toilet paper IOU Pentacon "backed" Saudi Mercan petroscrip fiat filth dollah gig is over! It is over. Now the deal is to get your fucking zionazi tRump gubermint to stop waging war against humanity and create some real jobs for all its snow flaky, privileged, entitled, mindless, drug-addled slackers and bums before ya'll finally burn Slumville to the ground.

In reply to by Labworks

guru69 Fireman Sun, 05/13/2018 - 22:35 Permalink

You're going to have to learn to speak a real language before you can get a job.  You're also going to have to stop asking your keepers (govt) to create one for you.  If you've got the cajones, you'll carve your niche in the world without help.  Or.... you can stay at home with mama and finally seek treatment for the Tourettes syndrome you have.  Cretin.

In reply to by Fireman

Endgame Napoleon IridiumRebel Sun, 05/13/2018 - 10:12 Permalink

What college grads of any age find is that corporations prefer to hire whole buildings full of moms without a degree or state-required licenses, opting instead for mostly employees who have 1) spousal income that covers the cost of housing, 2) child support that covers rent or 3) monthly welfare that covers rent and groceries and refundable child tax credits EITC up to $6,431 for reproducing while single. 

That way, most non-managerial employees—and most of the crony-parent “needs-the-job” managers, too—do not need for wages alone to cover their main household bills, as they either have spousal income or access to welfare for reproducing. Nor do they need full-time hours due to their secondary income streams.

They are also culture fits for the many and all-important mom-bonding rituals at work—the baby-mommy-look-alike-bulletin-board-decorating contests and the Family Day picnics, not to mention culture fits in the mom-protection racket of excused absenteeism for busy-working moms: whole mornings, whole weeks, whole days and whole weeks of excused absenteeism for moms beyond PTO and pregnancy leave(s). 

It is a little different for the non-womb-productive non culture fits who come to work every day, stay all day and meet the sales-generation and account-retention quotas every month before being churned by crony-parent managers who praised them for boosting up their numbers. It does not stop them from the churning of hardworking, high-selling non culture fits after they return from their 11th, two-week babyvacation for the year. They can always churn more chumps.

Frequently absentee crony-mom managers have no trouble bullying out the hardworking non culture fits with no UC to cover rent between churn jobs in these “voted-best-for-moms” jobs. Non-womb-productive non culture fits are subject to bullying out or firing over TRIVIALITIES, while extreme absenteeism is overlooked for all who have seen birth-canal exits, whether or not they meet the quotas. 

The back-watching absenteeism and open discrimination is just pure and simple crony corruption. But in most workplaces—with the low-as-you-go payscales leading to per-capita income across many states at $20k and below—you can follow the money to explain most of it.

Most new college grads cannot (or do not) get their major household bills paid by the US government for having sex, reproducing in a single-earner household and working part time to stay under the earned-income limits for multiple, monthly welfare programs and the cut off for refundable child tax credits that, at the max for high womb productivity, equal 3 to 4 months of wages in many of these mom-dominated jobs.

Nor do they have spousal income or child support covering their major bills, and thus, they do not meet the main qualifications for many mom-gang office jobs. The basement dwellers have sheepskins, but lack the key “skills” of “the women (moms) we have working here who have somethin’ comin in.” Or, these college grads need to understand that “we have 17 women in here (moms), and we HAVE to have someone who fits in.”

We mommas could hired you, ditching our unprofessional-cubed discrimination code, but “YOU do not know what it is like to raise two boys.”

Or, like the momma manager of one of the many mom-dominated Workers Compensation insurance back offices said—as she left in the middle of the afternoon to get ready for a date in the midst of an interview with a college grad with 4 licenses and years of experience in the field who waited for hours and jumped through hoops to interview— “busy-working moms NEVER get a night off.” You, college grad, would not understand our back-watching gangland arrangement here in this 100% female-dominated, mom-dominated, “diverse” workplace.

Being a momma is the perfect cover for getting way with ANYTHING in workplaces. We moms are above critique and nearly above firing due to milking motherhood privileges to the endth degree in the fake-feminist era.

We mommas have to be absentee all day / every day in a management job to get fired, whereas you childless, single people are subject to firing for 5 minutes of absenteeism, even when you meet the quotas every month.

No one expects cuddly moms, posting baby show-off pics all day online, to be blatant and viscous bullies, so we can gang up on non culture fits all day long at work without one snowflake mounting a melting protest.

Moms would NEVER harass and bully out the non-womb-productive employees sitting in their cubicles all day long, making call after call, as the moms leave work every day at 2:30 and for weeks of baby travel soccer, despite phones ringing off the hook with paying customers.

Whether or not they meet their quotas, moms are the ones that crony-parent managers should (and do) retain. They are the ones who “need the money” despite their womb-productivity-related, unearned income streams from spouses, ex spouses or government. 

In the fake-feminist era, it is all about the work. 

An interesting irony is that, in addition to all of the job seekers hurt by this corrupt system who are childless, single, middle-aged or older—a group facing rent that absorbs more than half of their earned-only income no less than Millennials—this crony-parent hiring / retention racket likewise hinders the Millennials in setting up independent households and birthing for the motherland so that they can join the workplace-absenteeism gangs of crony parents.

In reply to by IridiumRebel

richsob Endgame Napoleon Sun, 05/13/2018 - 12:01 Permalink

What you say has a grain of truth.  We have a lot of women/mothers who work for us and it's a constant battle trying to be fair and also avoid being taken advantage of when they frequently ask for time off to "take care of something".  We are more than lenient but I've noticed it's often better to just weed out the obvious problems the first time you have a chance and also be more careful when we are hiring.  After a while you develop a feel for who to hire and who not to hire.  I've got very little sympathy for sob stories that involve having to be gone for soccer games and piano recitals; that's what (limited) PTO is for.  I'm very tolerant when it comes to illness and healthcare for children.  As the poster said, the majority of women/mothers too often have a pretty messed up sense of entitlement.  

In reply to by Endgame Napoleon

Expat TheSilentMajority Sun, 05/13/2018 - 09:33 Permalink

Is there a single fucking topic that some ZH fucktard, xenophobic racist can't turn into a xenophobic, racist topic?  Do you seriously believe that the median house price is a stupid multiple of income because of some Chinese millionaire hiding his money offshore in Indiana?

You are insanely stupid and obnoxiously ignorant, which puts you right at home here at ZH.

Carry on, Trumptard, carry on.

In reply to by TheSilentMajority

divingengineer CatInTheHat Sun, 05/13/2018 - 11:39 Permalink

The problem as I see it is they can’t just be happy being wealthy, they have to continually go to crony congress and have law after law passed to make them richer, normally at our expense and never to our shared benefit.

More, more, more...they almost have it all and they’re still greasing congress for more laws to get even more. Greedy fucks should all die in fire for what they are doing to this country and working people.

In reply to by CatInTheHat

ElTerco Expat Sun, 05/13/2018 - 14:50 Permalink

Come to San Francisco, or head to Vancouver BC. You only need a small percentage of offshore buyers to overpay in order to screw up the whole market. I'm surprised no hedge fund has leveraged that fact about the dynamics of the housing markets. There's a huge supply of dumb people who will come in after you and make dumb borrowing decisions. Having a high concentration of people with no common sense, such as San Francisco, obviously helps.

In reply to by Expat

DingleBarryObummer tmosley Sun, 05/13/2018 - 08:52 Permalink

I understand it fine, I grew up* in NYC around those type of people. I probably understand it better than you do. 

It doesn't help America, it just helps him.  Actually, he thinks it helps him, but it really just makes him look like a nutter.  We have the internet now, and he's under a microscope with everything recorded. 

Wait till $4 p/gallon gas comes.  I will enjoy watching him (try to*) hyperbole himself out of that one.

In reply to by tmosley

a Smudge by an… Boonster Sun, 05/13/2018 - 09:39 Permalink

I feel a burden of guilt about how we positioned people for the crash. Yes we saved a lot of houses and families but in thinking it was gonna be WORSE than it was, positioning people heavily into gold turned out to be pretty tragic.

I lost some lifelong friends on that bet.

Though a seeker since my birth,

here is all I've learned on Earth,

this the gist of what I know?

Give advice and buy a foe.

In reply to by Boonster