All Star Economic News

[mmayr]

A Record Number of Young Adults Living at Home: Levels Not Seen Since the Great Depression.


The market is incredibly tilted against young Americans. $1.7 trillion in student debt is outstanding and most of that has taken a pause in the last year thanks to the pandemic. Most of that debt is in the hands of young Americans who are paying record high tuition costs and are unable to purchase homes given the market is artificially setup to favor older homeowners with low rates and protection programs to keep values inflated while wages are depressed. It is a stark contrast when the Fed is willing to pump out trillions of dollars to save banks and key players but raising the minimum wages gets completely shut down. It should tell you where priorities exist. However, even though we are seeing manias in stocks, crypto, real estate, and other areas wages remain depressed. So it is no shock that a record number of young people are living at home.

See chart: http://www.mybudget360.com/a-record-number-of-young-adults-living-at-home-levels-not-seen-since-the-great-depression/