The job shortage for recent grads is forcing more young people to think about alternatives to getting their own apartments after finishing college and going out into the “real world.” Often this means moving back in with their folks. But those who can move in with family are the lucky ones – homelessness has also increased with this recession.
In many countries, young people often live with their parents until they get married and start a family of their own. In this country, “moving out” has become a rite of passage, but that’s changing, as The Takeaway reports in Many Generations, One Roof: “President Barack Obama does it, and according to a study by the AARP, so do 33 percent of all 18-to-49 year olds.”
Having an extra person in the house can be more costly for parents. Smart Money magazine mentioned this phenomenon in a piece about renovations in the current economy, explaining that having a child move back into the house as an adult can necessitate expensive changes – such as redoing an attic or adding a bathroom.
And whether it’s a boomerang kid grounded by a tough job market or an aging in-law whose portfolio losses nixed her own housing plans, adults usually cohabitate best when everyone’s got some privacy. After all, who wants to bring a date home to a room that shares a wall with his parents or be woken at odd hours when Grandpa blasts his TV at full volume?
Making Sense: New England also has some tips for cheap home renovation:
But not everyone has that kind of back up plan. EconomyBeat struck a nerve this morning when it linked to a post by someone who’d turned to drugs and became homeless after losing his job.
I lived in California and worked for a startup in the tech industry. I was laid off and as a result of my depression, fell ‘deeper’ into my meth addiction as a way out. This caused me to lose my apartment, and 99% of my belongings.
And he’s not alone. Julie Rose at Charlotte’s WFAE reports on the homelessness problem in North Carolina and a survey that’s trying to get people off the streets.
There are about 6,500 homeless men, women and children in Charlotte. Advocates think some 500 of those people are chronically homeless, meaning they’ve been on the street for at least a year. But that was just a guess.