An interesting report by PEW shows Record Share of Young Women are Living with their Parents, Relatives.
Back in 1940, 36.2% of young women lived with their parents or relatives. That number dropped over the next couple of decades as marriage rates increased and women began joining the workforce in larger numbers, becoming financially able to live on their own.
The reasons that more women today are living with mom and dad are far different from in the 1940s: Today’s young women are more likely to be college educated and unmarried than earlier generations of American women in their age group.
College students – including those enrolled part-time and at community college – are significantly more likely to live with family than young adults who are not in college. In 2014, 45% of young females in college lived with family, compared with 33% of young females not in college.
Furthermore, while marriage typically promotes living independently of parents and other relatives, many young women are delaying marriage compared with earlier decades. In 2013, young women were half as likely to be married (30%) as young women in 1940 (62%). Census figures show that in 2014, the typical woman began her first marriage at age 27. In 1940, it was 21.5.
Remaining in the nest is also a trend for young men – in fact, even more so when compared with their female peers. Last year, 42.8% of young men lived with their family, a higher share than women but not one that surpasses the highest rates on record like the women’s share does.
Marriage and Kids, Who Can Afford Them?
Delaying marriage is yet another deflationary trend the Fed is fighting. The Fed’s inflation tactics and government interference are largely to blame.
Wages have not kept up with education costs and for someone in college the CPI is seriously understated. In addition, union handouts and ridiculous pensions that millennials have to support but will never receive, add greatly to the problem.
Millennials also have to overpay for health care, picking up the tab for overweight boomers etc.
Finally, attitudes towards having children have changed. Many women put their careers first, a smart thing to do in my opinion. Kids, who can afford them?
Mike “Mish” Shedlock