Do you think you might want to remain with family after school?
Many Gen Zers are moving back home — or in with grandparents. Do you think you might want to remain with family after school? Or, are you excited to live on your own? When you imagine life after high school or college, do you picture yourself living at home with your parents or moving in with grandparents?
Or, do you dream of getting away as quickly as possible?
In “Nearly a Third of Gen Z Is Living at Home (and They Plan to Stay),” Anna P. Kambhampaty writes:
This year’s rapid inflation rates have meant higher prices for virtually everything, including rent, food and even partying. So what comes next may not be much of a surprise: Nearly a third of Americans between the ages of 18 and 25 — part of what is collectively known as Gen Z — live at home with their parents or other relatives, according to a new study, and they considered it a long-term housing solution.
The analysis comes courtesy of Credit Karma, a personal finance platform, which surveyed 1,022 young adults in the United States online between June 10 and June 15 of this year.
From the very beginning of the pandemic, flocks of young Americans were moving back home. A 2020 analysis from Zillow found that about 2.7 million adults in the United States moved in with a parent or grandparent in March and April of that year.
But what’s worth noting from the recent Credit Karma study is how living at home with family is now often viewed as a permanent housing solution, even in the midst of a strong jobs market, said Colleen McCreary, a consumer financial advocate and chief people officer at Credit Karma.
“The pandemic had a big effect here. That age group was likely sent home from college or didn’t have the job and income security to have their own place,” she said.
For those who have made it out of their childhood bedroom, 32 percent are spending roughly half of their monthly income on rent or mortgage, the study found. “That’s a huge amount of money, especially for a population that doesn’t make a lot of money,” Ms. McCreary said. “On average, a zoomer’s household income is under $50,000.”
She typically advises that no more than 20 percent of income should go toward housing. But 28 percent of survey respondents reported that they’re unable to save any money at the moment.
In a related article, “Grand-mates: Generations Sharing a Special Bond (and Sometimes the Rent),” Joanne Kaufman writes about why more young adults are moving in with their grandparents, in a trend known as “skipped-generation” households.
Here’s an excerpt that begins with a quote from Donna Butts, the executive director of Generations United, a Washington-based nonprofit that promotes programs and policies that connect generations. She discussed some of the advantages of living with one’s grandparents:
Once the grandchildren are older, Ms. Butts said, “skipped-generation” relationships are stronger because the grandchildren and grandparents can approach each other as individuals. Grandparents, in this instance, aren’t seen as authority figures, and grandchildren aren’t viewed by Grandma and Grandpa as tots needing guidance and a lecture or three.
“The grandparent-grandchild relationship is less fraught,” said Dr. Gail Saltz, a clinical associate professor of psychiatry at the NewYork-Presbyterian Hospital/Weill Cornell Medical Center and host of the podcast “How Can I Help?”
“It’s different from a parent-child relationship, where it’s hard to move into the adult space. It’s hard for the parent not to parent, and young adults don’t want to be parented,” she said.
Grandchildren and grandparents have their own discrete needs. The grandchildren, still in school or in low-paying, entry-level jobs, are looking for deeply affordable housing with very tolerant landlords. The grandparents — not as young as they once were — may be contending with decreased mobility, health challenges and isolation.
Further, both sides of the age divide come to the table armed with their own skill sets. The grandchildren can demystify smartphones, Twitter and paying bills online. “They get to feel useful in the relationship. They can help the person they love,” Dr. Saltz said. In turn, their grandparents can share family lore and recipes, give the grandchildren a sense of their roots — and a sense of perspective.
Those in their early 20s don’t have the experience to know that life will go on, “and older adults can provide that context,” Ms. Butts said. “We’ve survived disasters before. We’ve survived diseases before. We’ve survived recessions before.”
Students, read one or both of the articles in their entirety, then tell us:
How long do you hope to live at home? Could you imagine living with your parents — or grandparents — into your 20s, or even 30s? Or, are you excited to move out on your own as soon as possible? Why?
What is your reaction to the two articles? Are you surprised to learn that so many in Gen Z are choosing to move back home or move in with relatives like grandparents?
What might be the benefits of remaining in your childhood bedroom? What are the possible drawbacks?
How important to you and your peers is moving out and getting your own place to live? Is doing so an important rite of independence and growth, like getting a driver’s license or a job? Is there any stigma to remaining at home?
Ms. Kambhampaty details how the high cost of living, particularly for housing, is affecting young people’s decisions about where to live. How concerned are you that the state of the economy might limit your possible hopes and dreams of independence?
How would your own parents or grandparents react if you asked to live with them after finishing school? Would they encourage you to stay?
Or, do you dream of getting away as quickly as possible?
In “Nearly a Third of Gen Z Is Living at Home (and They Plan to Stay),” Anna P. Kambhampaty writes:
This year’s rapid inflation rates have meant higher prices for virtually everything, including rent, food and even partying. So what comes next may not be much of a surprise: Nearly a third of Americans between the ages of 18 and 25 — part of what is collectively known as Gen Z — live at home with their parents or other relatives, according to a new study, and they considered it a long-term housing solution.
The analysis comes courtesy of Credit Karma, a personal finance platform, which surveyed 1,022 young adults in the United States online between June 10 and June 15 of this year.
From the very beginning of the pandemic, flocks of young Americans were moving back home. A 2020 analysis from Zillow found that about 2.7 million adults in the United States moved in with a parent or grandparent in March and April of that year.
But what’s worth noting from the recent Credit Karma study is how living at home with family is now often viewed as a permanent housing solution, even in the midst of a strong jobs market, said Colleen McCreary, a consumer financial advocate and chief people officer at Credit Karma.
“The pandemic had a big effect here. That age group was likely sent home from college or didn’t have the job and income security to have their own place,” she said.
For those who have made it out of their childhood bedroom, 32 percent are spending roughly half of their monthly income on rent or mortgage, the study found. “That’s a huge amount of money, especially for a population that doesn’t make a lot of money,” Ms. McCreary said. “On average, a zoomer’s household income is under $50,000.”
She typically advises that no more than 20 percent of income should go toward housing. But 28 percent of survey respondents reported that they’re unable to save any money at the moment.
In a related article, “Grand-mates: Generations Sharing a Special Bond (and Sometimes the Rent),” Joanne Kaufman writes about why more young adults are moving in with their grandparents, in a trend known as “skipped-generation” households.
Here’s an excerpt that begins with a quote from Donna Butts, the executive director of Generations United, a Washington-based nonprofit that promotes programs and policies that connect generations. She discussed some of the advantages of living with one’s grandparents:
Once the grandchildren are older, Ms. Butts said, “skipped-generation” relationships are stronger because the grandchildren and grandparents can approach each other as individuals. Grandparents, in this instance, aren’t seen as authority figures, and grandchildren aren’t viewed by Grandma and Grandpa as tots needing guidance and a lecture or three.
“The grandparent-grandchild relationship is less fraught,” said Dr. Gail Saltz, a clinical associate professor of psychiatry at the NewYork-Presbyterian Hospital/Weill Cornell Medical Center and host of the podcast “How Can I Help?”
“It’s different from a parent-child relationship, where it’s hard to move into the adult space. It’s hard for the parent not to parent, and young adults don’t want to be parented,” she said.
Grandchildren and grandparents have their own discrete needs. The grandchildren, still in school or in low-paying, entry-level jobs, are looking for deeply affordable housing with very tolerant landlords. The grandparents — not as young as they once were — may be contending with decreased mobility, health challenges and isolation.
Further, both sides of the age divide come to the table armed with their own skill sets. The grandchildren can demystify smartphones, Twitter and paying bills online. “They get to feel useful in the relationship. They can help the person they love,” Dr. Saltz said. In turn, their grandparents can share family lore and recipes, give the grandchildren a sense of their roots — and a sense of perspective.
Those in their early 20s don’t have the experience to know that life will go on, “and older adults can provide that context,” Ms. Butts said. “We’ve survived disasters before. We’ve survived diseases before. We’ve survived recessions before.”
Students, read one or both of the articles in their entirety, then tell us:
How long do you hope to live at home? Could you imagine living with your parents — or grandparents — into your 20s, or even 30s? Or, are you excited to move out on your own as soon as possible? Why?
What is your reaction to the two articles? Are you surprised to learn that so many in Gen Z are choosing to move back home or move in with relatives like grandparents?
What might be the benefits of remaining in your childhood bedroom? What are the possible drawbacks?
How important to you and your peers is moving out and getting your own place to live? Is doing so an important rite of independence and growth, like getting a driver’s license or a job? Is there any stigma to remaining at home?
Ms. Kambhampaty details how the high cost of living, particularly for housing, is affecting young people’s decisions about where to live. How concerned are you that the state of the economy might limit your possible hopes and dreams of independence?
How would your own parents or grandparents react if you asked to live with them after finishing school? Would they encourage you to stay?
