We’ve done it! We’ve reached the crest of civilization: Move over baby boomers; millennials are now the largest generation of Americans.
Cue the confetti.
What are the triggered tykes’ hopes and dreams? Not marriage, and not home ownership.
So how’re they livin’? According to a GOBankingRates poll, their 49% own their own homes, and 40% rent their abode. As per an Apartment List survey, many don’t have a enough in savings for a down payment for purchase.
9% ages 23-38 live at home with their parent(s) or guardian(s), and that number may still include this guy.
Among the number still residing with mom/dad, 60% say they’re financially constrained.
Despite the low percentage of home ownership, the group reports spending an average of $1,476 on housing expenses. Those making $100,000 or more spend $1,903. For non-housing costs, the typical Gen-X/Y’er forks over $1,832 per month, while higher earners shell $2,393.
And what are they doing to make that dough? The study asked millennials to choose their field of work from the following: technology, finance, marketing/advertising, education, service labor or side hustles, public sector, manual labor, or something not listed.
43% chose the last one.
Manual labor scored next highest, at 12%. Technology followed, to the tune of 11%.
So what is the new American dream? Surprisingly, a plurality of participants (43%) in the survey pegged its as “success through hard work.” “Equal opportunity” came in at #2. Does that mean they hope to find it, or they believe it’s already here?
As for attaining said success, 57% of millennials believe they’ll be wealthier than their folks over the course of of a lifetime. They also think their kids’ll be better off than they.
Could that be because of Alexandria Ocasio-Cortez and the Democratic Party’s promised utopia? In AOC’s estimation, all things can be free for all people, while at the same time all people provide all people free stuff. Then again, the New York senator’s intended paradigm doesn’t require “hard work;” her dead-in-the-water (here) Green New Deal vowed to care for those “unwilling” to get a job (here).
Nonetheless, last June, a Gallup poll revealed that “millennials are okay with socialism” — 55% had a positive view. See more here.
Way to go, public education.
For a hilarious take on the nation’s biggest bunch of babies — I mean that purely as a statement of statistical births, of course — see Family Guy’s send up here.
Find all my RedState work here.
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