this post was submitted on 03 Mar 2024

107 points (99.1% liked)

Economy

733 readers

71 users here now

Lemmy Community for economy, business, politics, stocks, bonds, product releases, IPOs, advice, news, investment, videos, predictions, government, money, politics, debate, current trends and more.

founded 2 years ago

MODERATORS

[email protected]

107

Gen Z Doesn’t Have the Money to Move Out (www.fairobserver.com)

submitted 1 year ago by [email protected] to c/[email protected]

20 comments fedilink hide all child comments

top 20 comments

sorted by: hot top controversial new old

[–] [email protected] 44 points 1 year ago* (last edited 1 year ago) (1 children)

As a millennial father of 2 gen z, I understand and I'm not going to make them move out.

[–] [email protected] 24 points 1 year ago

Not surprising. Things are/were difficult for millenials and it has only gotten worse. I can't blame anyone for not moving out when inflation and housing prices have gotten so bad.

[–] DestroyerOfWorlds 22 points 1 year ago

We have a (gen z) nephew who bought a van to live out of. We thought it was an "adventure lifestyle" type thing. Came to find out he's working two jobs and trying to save for a deposit on an apartment. Just 8 years ago we were working our asses off saving for a down payment on a house. We wouldn't be able to do that now. We'd be stuck in forever rent if we were lucky. We have friend working for a big tech firm that pays well and she pays more for her 2 bedroom apartment per month in rent than our 3 bedroom house in mortgage. We've lived in the same places the same amount of time. People are being squeezed out of existence.

[–] [email protected] 17 points 1 year ago

I seem to remember seeing the same sorts of info about millennials. It's almost like we've been living with this problem for over a decade and haven't managed to make any significant progress on it...

[–] [email protected] 16 points 1 year ago

live in a car and don't have kids

[–] [email protected] 6 points 1 year ago (1 children)

This must be North American thing again. They don’t do this sort of push out in Europe and Australia. Family stay with family (and pay rent), there is no strong push or opinion on people who live with their parents.

[–] [email protected] 5 points 1 year ago (1 children)

Sadly, this is Boomer culture. I honestly can't understand why most even had children.

[–] [email protected] 3 points 1 year ago (1 children)

Societal pressure is my guess.

[–] [email protected] 1 points 1 year ago

Possibly. Growing up late Gen X/Early Millenial, I really did get the impression that lots of my friends' and classmates' parents actually despised them for existing.

[+] Outtatime -25 points 1 year ago (2 children)

I have a rule for my kids. You can stay for free as long as you want. If you move out, you can come back, but then you pay rent.

[–] [email protected] 33 points 1 year ago (1 children)

Why?

What does having left and found how harsh and difficult it is affect their need to pay rent? What if they lost their job and they couldn't afford where they were living? Would you refuse them unless they paid rent?

What are you doing with that rent? Is it going to utilities? Food?

Or a savings account for them to get a down payment somewhere?

[–] [email protected] 8 points 1 year ago* (last edited 1 year ago) (2 children)

Everyone has different opinions on this, and I will share mine.

After a certain age, you are a adult. Some financial stake involved to ensure both parties are treated fairly. If you never housed someone before, there will ALWAYS be something. Drama, conflict, explaining house rules and preferences.

In 2010 I allowed a college friend to live with me for a month no strings attached, by week 6, I asked them to start chipping in. I think that's fair. They were into penny trading, refused to do any chores, and nearly killed my pets from their actions. Once I made it a financial transaction, they cleaned up and when they failed to meet the rent, they left on their own accord.

My incel cousin who has been practicing to be a Mini-Joe Rogan with his TikTok BS, asked me if I can let him use the guest room, and the moment I let him know about rent requirements, suddenly he backed off.

While I absolutely believe that some adults do have a breakdown need time to heal their wounds, some contribution is required. In the words of Benjamin Franklin, "Guests, like fish, begin to smell after three days."

Or a savings account for them to get a down payment somewhere?

A few years back, my other cousin couldn't live with her mom anymore at age 18, and crashed with us until she moved out to her college dorm. Stayed with us for four months. And the $200/month rent was given back to her as a housewarming gift (I actually doubled it).

Where my sister who got pregnant moved in with my parents, originally her money went to help pay for bills. She never left, but now as my parents are aged, she manages the finances.

Really depends on the circumstances.

[–] [email protected] 2 points 1 year ago

Contribution is usually going to be taking care of the basic household chores. Let your host come home and not have to worry about things. They won't resent you for it.

[–] Outtatime -3 points 1 year ago (1 children)

I'd respond myself but I believe you summed it up pretty well. People always assume the worst when I say what I say.

[–] [email protected] 3 points 1 year ago (1 children)

I didn't mean anything negative, though I feel I had worded my response to you somewhat hostile.

To the reply above yours here, I find guests different than children returning home. I certainly think there are circumstances around each so it's hard to make blanket statements. If someone is taking advantage, then I can see the rent issue come into play. But I've also seen it the other way where someone down on their luck trying to make ends meet was made to pay rent while their parents pocketed the money for their own entertainment.

[+] Outtatime -14 points 1 year ago* (last edited 1 year ago) (2 children)

The thing is, you just assumed that. You know nothing about me or my morals. You assume I would just pocket the money and just laugh at some disadvantaged person. This is the problem with reddit and lemmy. Pompous dip shits like yourself always looking down on anybody who has a different opinion or outlook on situations. And then inserting your own garbage narrative

[–] [email protected] 5 points 1 year ago

Did you start drinking between comments?

[–] [email protected] 4 points 1 year ago

I didn't assume anything, I was mostly asking for clarity, though in a less than kind way that made it seem like I was judging you.

I didn't mean to be a pompous ass. I just genuinely do not understand having children pay rent if they move back home. I'm not trying to understand any other relation that wants to crash with you. Just your children, what about moving back home makes you want to charge them rent? From my experience, I haven't met anyone that moved out who actually wanted to move back home with their parents unless they had no other choice.

[–] [email protected] 3 points 1 year ago

So they know not to count on you if they need help, got it. This is why people become homeless.