Only 20% of 27-year-old Americans Own Their Home, 22% Live With Their Parents
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Talk about an eye-opener. This story from the Atlantic’s Jordan Weissman takes a look at a recent study from the U.S. Department of Education analyzing where a group of 27-year-olds are today.
The study found that today’s 27 year olds are educated, in debt, and living with their parents. To us, the most interesting finding was that of all the respondents to the survey, the group that attained an associate’s degree had a higher rate of homeownership than those with bachelor’s degrees or higher. About 22 percent of respondents live with their parents, of which 18 percent are bachelor’s degree holders.
It seemed that the high level of debt, both credit card and student loan debt, presented a significant barrier to homeownership, with 60 percent of respondents borrowing money for college, and 79 percent of 27-year-olds owing some money, with 55 percent at least $10,000 in debt on credit cards or mortgages.
So, how old is too old to live at home? And are you surprised that so many 20-somethings still live with their parents?
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What I see is that a lot of people my age have this sort of "live fast, die young" attitude about life. Savings? Ownership? That's silly… Couple that with the fact that you can lease anything by basically just signing and nothing down, it makes it hard for young people to see past the now.
What I see is that a lot of people my age have this sort of "live fast, die young" attitude about life. Savings? Ownership? That's silly… Couple that with the fact that you can lease anything by basically just signing and nothing down, it makes it hard for young people to see past the now.
The numbers above are over 140%. Is that NEW math??
Sorry, not sure I follow you?
The numbers above are over 140%. Is that NEW math??
Sorry, not sure I follow you?