Business & Money
Young Adults Living with Parents Hits Historic High
In a striking shift not seen since the 1940s, approximately 45% of individuals aged 18 to 29 are now residing with their families. This trend marks a significant departure from recent decades and offers a compelling look at changing social and economic dynamics across generations.
A Walk Through Time:
1940s: The last time we saw numbers this high, the world was grappling with World War II and its aftermath. Young adults stayed home due to wartime service and post-war readjustment.
1950s-1980s: The pendulum swung the other way. Less than 10% of 25- to 34-year-olds lived at home during this period of economic boom and cultural emphasis on early independence.
1990s-2000s: The tide began to turn. More young adults started moving back home, with the trend accelerating after the 2008 Great Recession.
2020s: Enter the pandemic era, pushing the numbers to our current 45% peak.
Why the Change?
1. Economic Challenges: It’s not just about pricey lattes. Rising housing costs, stagnant wages, and hefty student loans make flying solo financially daunting.
2. Delayed Life Milestones: Young adults are taking longer to marry, establish careers, and feel “grown up” enough to leave the nest.
3. Cultural Acceptance: Living with parents past your teens is losing its stigma. For many cultures, it’s always been the norm.
4. Pandemic Effect: COVID-19 sent many young adults scurrying back to the safety (and stocked fridges) of their childhood homes.
What This Means for the Future:
This trend could reshape everything from housing markets to family dynamics. Will we see a rise in multi-generational homes? How will this affect young adults’ independence and life skills?
While some may joke about “failure to launch,” this trend reflects complex societal changes. It’s not just about young adults reluctant to grow up – it’s about adapting to new economic realities and changing cultural norms.
So, whether you’re a young adult enjoying home-cooked meals or a parent wondering if your empty nest will ever truly empty, remember: you’re part of a significant societal shift. Who knows? Maybe we’re just returning to a more family-centric way of life that our great-grandparents would recognize.
Welcome to the new normal, where home isn’t just where the heart is – it’s where an unprecedented number of young adults are too.
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In a significant move to revitalize a nearly two-century-old connection, President of Liberia, Joseph Nyumah Boakai, and his cabinet members met with key Fulton County officials on Wednesday, August 21st. This historic meeting was made possible due to the efforts of Aaron Faulkner, film director, and Dr. Clarice Ford-Kulah, President of Providence Preservation Foundation Inc., who played a crucial role in facilitating the discussion. Dr. Ford-Kulah and her team were instrumental in bringing everyone together, and she will be orchestrating the return visit in December of the Fulton County delegation. The meeting, which took place in Atlanta, Georgia, focused on potential partnerships aimed at addressing Liberia’s current challenges and marked a significant step towards strengthening the historic ties between Liberia and Fulton County.
President Joseph Nyumah Boakai met privately with Fulton County officials to discuss strengthening historic ties and exploring new collaborations between Liberia and Fulton County, Georgia.
The relationship between Liberia and Fulton County dates back to the early 19th century when freed African Americans, many from Georgia, settled in Liberia. This connection has endured for nearly two centuries, creating a unique bond between the two regions.
High-profile figures, including the President of Liberia, members of his cabinet, Chief Probate Judge Kenya Johnson of Fulton County, and Fulton County Chairman Robb Pitts, attended the meeting. The discussions focused on exploring ways to strengthen economic ties, foster educational and cultural exchanges, and address healthcare challenges in Liberia.
President Joseph Nyumah Boakai met privately with Fulton County officials to discuss strengthening historic ties and exploring new collaborations between Liberia and Fulton County, Georgia.
Potential areas of collaboration include trade partnerships, investment opportunities in Liberian infrastructure, technology transfer programs, scholarship programs for Liberian students, cultural exhibitions, medical training programs, and telemedicine partnerships.
Chief Probate Judge Kenya Johnson provided insight into the historical ties between Fulton County and Liberia, referencing documents from the Fulton County Probate Court that shed light on the complex history of slavery and emancipation in the region.
Chairman Robb Pitts emphasized the potential for mutual benefit in this partnership, stating, “By leveraging our shared history and combining our resources, we can create meaningful change and opportunities for both Liberia and Fulton County.”
President Joseph Nyumah Boakai standing next to Her Royal Majesty Shanta Lana Hereford, Warrior Queen of The Cherut Nation.
The meeting concluded with a commitment to continue dialogue and develop concrete action plans for collaboration. Both parties expressed optimism about the potential for this partnership to address pressing issues in Liberia while strengthening the bonds between the two regions.
This historic meeting marks a significant step towards revitalizing the connection between Liberia and Fulton County, with the potential to create meaningful change and opportunities for both regions.
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