Thursday, December 17, 2015

Young adults: should parents expect them to be completely on their own?

Michelle Singletary has an article on p. A20 of today’s Washington Post looks provocative at the print title, “Encouraging interdependence, not freeloading”.  This concerns young adults living with their parents and not paying much rent because they’re burdened with student loans or other debt, or underpaying job markets (internship abuse).

Yes, there is a good case for student loan reform, and to question tuition and fees inflation.

My own observation is that it is common for young working adults (or students) to get together and rent houses, four to a home, and typically pay much less than in high-rise apartments.

College students with real job skills (particularly coding applications) are likely to get on their own sooner and be much better off financially. But not everybody can follow Mark Zuckerberg’s example.

It’s also interesting to me that when my parents were young adults (they married in 1940), it wasn’t common for singles to have their own apartments and lifestyles until they got married and started families.  Both of my parents lived in Y’s in downtown Washington in the 1930s, although that was the depression.

Interdependence is a concept associated with social capital.  I'm a little surprised Singletary didn't go there with this particular column. Young adults might be "needed" for eldercare later in life.  Its' a two-way street indeed.

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