It's no secret that it's tough out there for millennials. Really, really tough. Especially when it comes to eventually 'getting onto the housing ladder', a dream that seems more and more unachievable for many.
The latest statistics show that the proportion of families headed by 25-34-year-olds who own their own home has halved in some regions. Further, millennials, classed as those born between 1981 and 2000, are half as likely to own a home than the baby boomer generation, because of higher prices, lower earnings, and stricter rules on credit, reports The Guardian.
In the 80s it would have taken a typical couple in their 20s approximately three years to save for a deposit to put down on a house. Now, that figure is more like 19 years - which, let's be honest, is rather daunting, and more than a tad depressing.
And, the final nail in the coffin comes with the price of private renting. Nearly two fifths of millennials are renting from a private landlord, and they're being charged nearly a quarter of their monthly incomes, three times more than the pre-war generation.
And baby boomers criticise millennials for still living at home, or wasting money on avocado toast?
Social media users have been summing up just how ludicrous the idea that adults still living with their parents is something 'shameful' really is.
Taking to Twitter, King Bryan, or @_BlackZA tweeted:
The tweet was posted to Tumblr, where users shared their amazement at the scorn directed towards millennials.
Hey. LIVING COSTS MONEY! How about giving more money to the companies that employ me and MAYBE I MIGHT BE OK.
Others commented on how it's normal to stay with your parents until later in life in other cultures.
This is such a funny thing to me because in Thai culture, it’s completely normal to live with your parents when you’re an adult. In fact, most people live in their family home until they’re married ¯\_(ツ)_/¯
In Western culture (including America!) it was completely normal for people to live with their parents in adulthood–sometimes until they married, sometimes longer. In America, that changed (for men) in the 1940s and 50s, when it was really really easy for an 18 year old to get a good job that paid more than enough to live a comfortable life on, or to afford college which would then practically guarantee you an even better-paying job. Women joined the trend of moving out at 18 in the 1960s and 70s.
And now those jobs don’t exist, or are few and far between, and guess what! People are living with their parents again. But that 70-year span was just long enough that it fell out of common memory, and now people are seen as “failures” because the economics have changed.
beatrice-otter launched into a history lesson, and explained exactly why people are moving back in with their folks.
A very great deal of Western culture, ESPECIALLY America, is actually still based on a memory of the 40′s and 50′s as the baseline of normalcy despite them being a total fluke at the time.
World War II and McCarthyism created a massive shift towards rabid patriotism, Christian fundamentalism and the ideal of the “nuclear family” that resembled nothing before it and we’re still recovering from as the majority of our most powerful politicians are old enough that this period of sudden fanaticism is their “nostalgic good old days” and the way they think things are “supposed to be.”
Some people agreed that 'Boomerang babies' had every right to head back to the parents' nest.
While others were critical:
nah you ain't really an adult until you learn to live independently of your parents. U learn so much on your own that you wouldn't do otherwise.
I hear, all of this. But when meet a 23-year-olds who aren't independent and straight up rely on their parents or grandparents i'm terrified.
A third, TamTomTim also agreed:
In the Nordics - if you are plus 24 and still living with your parents... it's a bit weird and some might say you're a loser.
What do you think? Are you a failure if you still live with your parents at the age of 22, or is it understandable for millennials?