The number of Millennials living at home as opposed to getting their own place of residence seems to be increasing, according to statistics released by Good Magazine. In 2012, approximately 36% of Millennials in the U.S. lived with their parents, and almost 60% in Canada.
Low employment rates and high college debts are two reasons why Millennials live with their parents after graduating from college. Many Millennials today are finding it difficult to obtain employment while others are struggling with jobs that offer low wages. Of the 36% of U.S. Millennials living at home, a good number were single, making the arrangement more convenient and possible.
The prospect of living within a cramped micro-apartment or paying the high cost of purchasing a home in the suburbs does not appeal to most Millennials today. A viable solution would be to provide low-cost, urban housing to help cover this sector of society. Reducing the cost of housing and transportation to and from work gives Millennials greater incentive and financial ability to launch out on their own.
Those needing help in the Western U.S., please contact Ed LaCivita or Craig Sullivan of Parkwest General Contractors located in Anaheim, CA.
