More young adults now living at home with their parents since the start of World War II
The last time so many young adults were living under their parents roof, the United States was in the final days of the Great Depression and on the threshold of entering into World War II. ¬†And perhaps this is a signal that history may be ready to repeat itself both economically, and even geo-politically.
Contrary to the mainstream’s fake news propaganda throughout the entire Barack Obama presidency when it came to the economy, it is quite likely we are already in a new recession because outside of the propped up bubble stock markets, GDP growth, along with corporate earnings, definitively point towards an immense slowdown in real productivity. ¬†And when you couple this with the government’s hyper rhetoric against Russia and China to try to bring them into a global conflict, then you have the makings of an environment not too dissimilar than that of 75 years ago.
Millennials finally get to claim a trophy for an achievement they actually earned (no participation medals here)…that’s right, Millennials have officially set a 75-year record for highest percentage of young adults living at home with mom.¬†¬†At just under 40%, Millennials are barely shy of the all-time record of 40.9% set in 1940, after the end of the Great Depression.¬† For once, we have every confidence that our young snowflakes will excel in crushing this longstanding record.¬† Per the¬†Wall Street Journal:
Almost 40% of young Americans were living with their parents, siblings or other relatives in 2015, the largest percentage since 1940, according to an analysis of census data by real estate tracker Trulia.
Despite a rebounding economy and recent job growth, the share of those between the ages of 18 and 34 doubling up with parents or other family members has been rising since 2005. Back then, before the start of the last recession, roughly one out of three were living with family.
The trend runs counter to that of previous economic cycles, when after a recession-related spike, the number of younger Americans living with relatives declined as the economy improved. – Zerohedge
Optimism for the economy seems never greater than it is right now following Donald Trump’s victory one month ago, and the data validates this belief by jumping to the highest level ever in the history that Gallup has been measuring economic confidence. ¬†But short-term euphoria is often masked through the manifestation of just a few events, and rarely do a majority of people actually look at the underlying data to determine the true state of an environment.
It is a probability that not much of anything dire will occur between now and the end of the year, and that even most millennials living at home will still be focusing on combating social justice because mom and dad are providing them a roof over their heads. ¬†But how long until a coming economic crisis begins to effect the parents of these young adults, and where then will whole families be able to go… just like what happened for many eight years ago during the last great financial crash?
Kenneth Schortgen Jr¬†is¬†a writer for The Daily Economist, Secretsofthefed.com,¬†Roguemoney.net, and Viral Liberty, and hosts¬†the popular youtube podcast on Mondays, Wednesdays and Fridays.¬†Ken can also¬†be heard Wednesday afternoons giving an weekly economic report on the¬†Angel Clark radio show.