There are more young adults living with their parents today than in previous generations
The millennial generation is great in many ways. But apparently, moving out of their parents’ house is not among them. In fact, the millennial young adults are far more likely to stick in their parents’ house for much longer than any previous generation.
Research by the New York Times found that millennials are more likely to be living with their parents more than their Generation X counterparts. Out of every 10 millennials living with parents, it is considered that 8 are male as per the study by the New York Times.
The high cost of living contributes significantly to millennials living with their parents for longer. The cost of buying houses has increased as has the demand for the available ones. The rent prices have risen as well hence many millennial young adults choose to save money by living with parents.
Why millennial youths don’t move out easily
The fact that millennials are more reluctant to move out of their parents’ homes can be attributed to a variety of factors. These include;
High unemployment rates
Most countries are laboring with unemployment, with millennials as the most afflicted. As a result, these unemployed youths are forced to stay with their parents longer. Securing jobs, no matter one’s level of education is still a challenge. With university education or not, getting a job is still not guaranteed.
Even if one gets employed, job security is not a guarantee. Compared to the ’90s, jobs are no longer for keeps. Organizations are always in search of better and more qualified personnel. They tend to go for more experience. The millennials, therefore, have unstable income, and not many opportunities to make an honest living.
Apart from job security, wages are minimal. The wage package does not match the cost of living which is on the rise daily. Homeownership prices, for example, are higher than they were 20 years ago.
The millennial take on relationships
Millennials are not getting into relationships as early as the previous generations did. As a result, they are not starting families until they are much older. Some even get into relationships as late as 40 years and above. Young men constitute the biggest percentage of these as they tend to marry much later than women.
The society is also more receptive to men marrying later than women. A woman in her 30’s and not married is speculated upon. Gossips and finger-pointing are not uncommon for her. Society may even resort to name-calling her.
Comparatively, a man who is 35 years and above is still considered young. At 40, the man is just a bachelor who hasn’t found the right partner yet. The 40-year-old man still living with the parents, is just saving and taking his time to get into the right kind of relationship.
The men, therefore, are not under as much pressure to get into relationships and buy homes as would a woman of similar age.
Seeking higher levels of education
During the 70’s and early ’80s, high school education was enough to secure one a job. In fact in the ’60s, just being able to read and write was enough to get one a very decent well-paying job. How things have changed!
Nowadays, a university degree is a necessary requirement for most jobs. And even then, a prospective candidate may still be locked out due to prohibitive requirements on experience levels expected of them. The more degrees you have, the better your chances are of living your dream life. Hence most millennials take longer in education as more go to university as compared to previous years.
Even so, some degrees become irrelevant by the time these young adults graduate. The graduates are therefore forced to advance their studies or risk ignominy.
Others are forced to study an additional course to boost their academic credentials. For example, someone who has a degree in business management is forced to do an accounting course or a project management course to give an advantage when in search of employment.
Independence in parents’ house?
A more controversial perception is that young men are generally freer when living with their parents compared to women. This may be because men are given more freedom than their female counterparts, or the fact that males are generally ‘low-maintenance’.
For example, a 35-year-old man going out with friends and still living with his parents is free to come in anytime he wishes. The man is free to knock on his parents’ door even past midnight. A woman who is the same age as the man is not allowed such freedom.
There is also the aspect of responsibility being more pronounced on the young women than the young men. Parents have little or no expectations from their sons regarding house chores as compared to daughters.
Apart from these, women tend to mature faster than men. That is why experts’ advice that a man should marry a woman who is at least 2 to 3 years younger for there to be compatibility in their home.
The bottom line…
The millennials are clearly redefining what it means to be an adult. They have defied traditional adult milestones like marriage, buying homes and starting a family by delaying it.
Whether it’s because of the economic climate or the changing social standards, it is clear that living with parents into adulthood is no longer a taboo as it was 20 years ago.
However, millennials living at home longer put a bigger financial burden on their parents. They also give their parents emotional and psychological strain. The parents have to provide for them financially as well as keep up with their behaviors’ good or bad.