A Third Of Young Americans Live At Home With Their Parents

ultraculture.org

Thanks to the sparse job market, nearly 1/3 of Americans aged 18-34 now live with their parents, according to a new report.

The “American Dream” days, where a high school diploma or a college degree guaranteed relative comfort, seem increasingly distant. The cost of college is at an all-time high, and rampant interest rates for student loans are fueling the next massive debt crisis.

Many new college graduates never enter the labor force at all—leading to over $1 trillion in outstanding student debt nationwide. Just like the subprime mortgage crisis, lending institutions with lax regulations made a quick buck selling people things they couldn’t afford.

It’s only a matter of time before the bubble bursts, and legislatures will have to address the potential failure of “too big to fail” lending institutions as well as an increasing percentage of the population with no credit, rampant bankruptcy, and little hope for home ownership.

The increasing number of debt-burdened young people living with their parents after graduation also means less people are buying houses. Real estate makes up about 17% of the nation’s GDP, and diminishing rates of new homeownership demonstrates the outward ripple effect of crippling student debt.

to read more: ultraculture.org