Thursday, December 22, 2016

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

The Obama 'Recovery': Number Of Millennials Living At Home With Mom Reaches 75-Year High | Zero Hedge:
Millennials At Home"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....

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..."

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