Why Are So Many Millennials Living With Their Parents Instead Of Getting Married And Starting Their Own Families?
By Michael Snyder
April 20th, 2017
Did you know that the percentage of 18 to 34-year-old Americans that are married and living with a spouse has dropped by more than half since 1975? Back then, 57 percent of everyone in that age group “lived with a spouse”, but today that number has dropped to just 27 percent. These numbers come from “the Changing Economics and Demographics of Young Adulthood” report that was just released by the U.S. Census Bureau. Some are postulating that the reason for this dramatic cultural shift is a phenomenon known as “extended adolescence”, while others fear that large numbers of young men and/or young women are giving up on the concept of marriage altogether.
Instead of getting married and starting their own households, many young adults are deciding that living with Mom and Dad is the best approach. In fact, this new Census Bureau report found that one out of every three 18 to 34-year-old Americans is currently living with their parents…
According to the Changing Economics and Demographics of Young Adulthood report for 2016, one in three Americans ages 18 to 34 are living at home with their parents.
Coming in second place is living with a spouse (27 per cent), followed by other (i.e. living with a roommate or other relatives, 21 per cent), living with a boyfriend or girlfriend (12 per cent) and living alone (8 per cent).
Once the last recession ended, this trend was supposed to start reversing, but instead the number of young adults still living at home has just continued to increase. This is going to have very serious implications for our looming retirement crisis, and that is something that I am going to write about later today on End Of The American Dream.
And a lot of these young adults are not being productive members of society at all. In fact, this new report from the Census Bureau found that one out of every four 25 to 34-year-old Americans that are currently living at home do not have a job and they are not going to school either.
In other words, they need to get a life. I really like how a recent CNBC editorial made this point…
One of the most memorable Saturday Night Live sketches ever was broadcast in 1986 when guest host William Shatner played himself appearing at fictional Star Trek convention. After fielding one childish question after another from costumed fans in their late 20s and 30s, Shatner loses his cool and shouts: “GET A LIFE, will you people? I mean, for crying out loud, it’s just a TV show! … Move out of your parents’ basements! Get your own apartments and GROW THE HELL UP!”
Thirty-one years later, it sure seems like all of America needs to heed that message. Here’s why: The Census Bureau now says that more 18-34 year-olds are living with their parents than with a spouse.