40% of Millennials are Living With Relatives: 7 Surprising Reasons Why

40% of Millennials are Living With Relatives: 7 Surprising Reasons Why

Craig Huey Economics 3 Comments

An unprecedented 40% of Millennials are still living at home or living with other relatives.

Is this because they are immature and too sheltered?

Or does it have to do with the lack of housing and economic opportunity for this generation?

Here are 7 reasons why the younger generation are still living with their parents:

  1. Regulations. The regulatory burden on small businesses and for business owners have not only discouraged businesses from hiring. Millennials and young entrepreneurs face insurmountable hurdles to opening their own business, from the licensing fees, the taxes. Regulations also prevent the creation of more housing.

 

  1. High taxes. Federal, state, and local taxes not only hurt Millennials, but they stifle job promotions and wage increases.

 

  1. Forced minimum wage hikes. Businesses are coping with high taxes and fees. Then local and states governments are pushing forced wage hikes. Businesses cannot justify paying an employee $15 to do a job that isn’t worth that kind of money. Automation, part-time hiring, layoffs, and closures have become the norm for major and small businesses as the minimum wage increases.

Millennials! (Credit: memyselfandamillennia.com)

  1. Obamacare. This overly complex, misguided law is crushing businesses with taxes and regulations. Most business have not been hiring more employees, or they only hire workers for part-time, which is not enough to live on.

 

  1. Inflation. Government spending and skyrocketing government debt from the federal government combined with massive expansion of the money supply by the Federal Reserve is driving up prices. This problem makes even living with a roommate very expensive.

 

  1. Useless degrees without useful skills. Millennials are graduating from colleges with useless degrees in esoteric social science courses, art, or e studies. They walk out of college with no strong marketable skills to make themselves employable.

 

  1. Lack of Motivation. Many Millennials have been taught to see the government as a source of support and help for everything. It’s sapped vision and initiative. Many parents are coddling their kids, and so they have little interest in striking out on their own.

 

Millennials seem to face insurmountable challenges to a prosperous future. My hope is that the Trump Administration will Make America Great Again for them, too.

What do you think? Email me at [email protected].

Comments 3

  1. Very good article. I am not liking the Government and it’s overregulation more and more.
    Just go look at the wording in the first sentence under Regulations. It needs to be completed…

  2. It’s ironic.

    Young people tend to support Obama and socialist lefties.

    Under their regime who are the most significant losers?

    Answer: Young people.

  3. When I was 18 I lived in a small 1-room apartment upstairs from an “older” couple who were friends of my grandmother (they were around 50) in their home during the summer while I worked to earn money for school. During the school year, I roomed upstairs from an elderly woman, approved by my school, who also offered me a job modeling clothes for the retailers who were purchasing from her. It wasn’t hard to find cheap housing that was safe for a young woman back in the ’60’s. Now, with Federal and State programs to provide housing to drug dealers and furloughees (DOC pays well to rent housing), it’s much harder to find safe, affordable housing for young men and women who are not on the dole nor on the lamb.
    I would not want my 18-20-something son nor daughter out there. I’m glad my youngest child (of 6) is living at home while she attends the local college. She’ll have plenty of time to find an apartment when she gets her teaching credentials and a job. The best persons to help find safe housing are colleagues at work, or friends and fellow parishioners of the parents at church..

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