Today's kids don't feel that itch to move on. Why would they? Free room and board.
While I think there is some truth to this, things are also massively expensive so it may not be so much as a not willing as not really able. Most apt complexes are wanting renters with like 3 and 4 times the income (or at least it was the way when I was apt hunting in 2011ish.) I don't follow politics that much but google says unemployment is only 4.2%. I guess that's pretty good? But when I go out I see a ton of closed businesses or stores/restaurants with just a few cars in the parking lot. I'm likely very very ignorant about the state of the economy and financial matters in general but can't a guy just have uninformed opinions?
Great points. Having said that, my employment when I moved out paid 7.25 an hour working at Dominos. I moved in with two buddies with similar wages and we made it work. So yes, everything is more expensive now, but our 3 COMBINED hourly salaries is barely over what my 25 year old son makes on his own. Not necessarily in a bad way, but I just think kids are wired a little different today. I also love all opinions. Ha ha
They’re wired differently but depending on where you live the housing, transportation, food, etc. has skyrocketed in relation to wages. I am not exactly sure of the numbers, but the costs are prohibitive to making it on your own. When the kids gripe about it they’re not being disingenuous. This article briefly mentions insurance, which has also skyrocketed and outpaces wage increases.
“The housing crunch has also helped push up rental prices
The spike in home costs has left millions of people stuck renting, driving up competition and prices in that market too. For a
record half of U.S. renters, their housing is now unaffordable, Harvard finds. Since 2001, inflation-adjusted rents have gone up 10 times faster than renters' income.
Housing experts say the underlying problem for both buyers and renters is a
massive housing shortage that has built up over decades and will take years to remedy. Single-family construction has been picking up, and some developers are building slightly smaller, lower-cost homes. A boom in multifamily construction has also helped ease rents, especially in places such as Austin, Texas, which saw some of the biggest hikes in recent years.“
10 times faster. That’s heady stuff. So three times wages (feel free to correct my assumptions or math—I’m terrible with quant policy sometimes) still doesn’t keep pace.