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Joined: Jan 2001
Posts: 14,930 Likes: 93
Booner
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Booner
Joined: Jan 2001
Posts: 14,930 Likes: 93 |
Investors bought up every house they could get for a while. It did two things. It drove up home prices and helped create a housing shortage. Those homes were listed to rent after a short delay. And the rents are higher than a damned mortgage. My sons neighborhood is almost all 5 yo homes or younger. There are always 3 or 4 up for rent in a very small neighborhood. Even when rented it's vacant again shortly after. And people can't afford those rentals. Not on todays $ and cost of living. Something has to be sacrificed. I predict a trend in the near future. Extended families living in one home. Just to help offset the costs. I'm already seeing it a little bit.
Something is gonna break soon. It has to. Breakdown by Age Groups Ages 18–24: About 57% to 58% live at home. Ages 25–29: Over 20% live with their parents. Ages 30–34: More than 10% reside in a parent's household. Ages 25–40 (Working Adults): A LendingTree study using census data found that 11.8% of employed adults aged 25 to 40 live with their parents. Key Factors Behind the NumbersEmployment: Roughly 70% of the young adults living at home are employed. The trend is driven heavily by housing costs and affordability rather than a lack of jobs.
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