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Wednesday, August 5, 2015

Living conditions for millennials: Update from Zero Hedge

While checking the only news source I trust, I came across two articles regarding the reality that my generation faces.

The first article linked here shows how many people still live with their parents. Apparently, in the age 18 to 34 demographic, 31% of this demographic is currently living with their parents. This is a figure I want to track in the future as it might be an indication of two things. This is most likely the result of kids racking up too much student debt and not getting a good paying job that will allow the kid to live on his own. A much smaller percent of this demographic might be kids living with parents in order to save up money to buy a house or other property without having to take out a mortgage.

The second article shows how tight millennials might be pressed and how far kids need to strip away in order to live independently. There are more in California paying rent to live in shipping containers. The rent for a shipping container in San Francisco is $1000 a month. And that just sounds insane because shipping containers only cost about $2500.  One year worth of rent could buy a shipping container and some land in Texas.

I predict that in the next few decades, populations will start dispersing from heavy populated cities into more rural areas just because of the high cost of living in cities.

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