Tuesday, August 5, 2014

Do You Have An Adult Child Living At Home? You Are Not Alone!

It may not seem Real Estate related but it definitely is. The funniest thing I thought is the article I read today is that 1/2 of the parents surveyed don't seem to mind at all.

My ex-in-laws seem to love it! And, they have my ex and my kids under their roof! The kids are considered the Millennials. The younger ones are 18-22, and the older ones are 23-34. Mine are the Older Millennials.

The largest chunk of kids still living at home are saving money while still in school. A big pool too are the ones that just don't have enough income to live on their own. That's a big problem.

Will they buy when they actually do move out? The majority likely will be renting. Less than a third, per the survey, do their parents think they will be able to buy a home.

As the market continues to have appreciation, that percentage of renters vs. buyers will likely increase further.

But then, when I was young, my first husband and I agreed we would have lived in a shack to sock away money to buy a home. And, that the first home wouldn't be a mansion by any means.

So, yes, they are saving money by living at home.....but are they really SAVING money to buy a home? Or just living cheaper by living at home?

I'm going to shut my mouth any further on this subject. But, Feel Free To comment!

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