People who live with their parents. - Page 2

Bah, I don't care how much a mortgage costs. Any self-respecting adult should rent a shithole rather than live at home. Living with your parents after age 21/22 is just unacceptable. I think Devin hit it on the head, these manchilds just want to keep the higher standard of living their parents have given them. Of course there are exceptions (disabled, serious health issues, recent personal crisis, etc.) but these are rare exceptions. Having a crappy job or not being able to afford a mortgage is no excuse to live at home. Just my personal opinion. Yes, there are cultural differences so I'll say this is my opinion on Americans as an American.

And I blame the parents as much as the kids for letting this fly. Enablers.

JS

Yeah but even Shitholes will cost you around £300 to rent, and that is in a grimy Northern town. Hell the cheapest properties in London and other such areas are around £900 ($1700) a month and that's usually just for a room or bedsit.

None of these people have...you know...friends that they could room with or anything?

Having a roommate (or 2) is how I started a savings account...expenses go down exponentially.

Get a second job.

Spike, come over across the pond! I was just talking with a friend from Scotland who moved over. The currency difference really helped him find a cheaper place here in the States that is as nice, or nicer than in Glasgow. And the crappy spring weather in Chicago reminds him of home.

JS

That also works.

Get a moonlightin' gig for a few months and put away for a deposit.

I think the reason I'm so defensive of people who chose to stay at home is because I pretty much ruined my life by refusing to stay at home and go onto higher education. I had the opportunity to go to University but because I wanted to get out on my own and because I could only afford to live on my own if I worked full time I just let it slip by and I've been kicking myself about it ever since.

I can see where people are coming from when it gets to people in their 30s who still live at home, but I think as a 21-25 year old you need all the help in the world you can get just to survive and to reject that help because it's uncool or it'll hurt your pride is borderline retarded.

There's a lot to be said for a shithole when you're just starting out. Another reason for this stay at home syndrome is that people have become so spoiled that they want to wait until they can put the down payment on their dream mansion before they'll finally leave Mom and Dad's house. Whatever happened to starting small and working your way up? You're supposed to have a hard time making ends meet, that's part of starting out. Simple fact is, their house, their rules. I would think a true adult would live just about anywhere rather than stay beholden to his Mom and Dad.

Although I will say, home mortgages and rent have become ridiculous in far too many areas of this country. It's by no means an excuse to stay living in your old room (bargains can still be found), but it is a problem.

I don't think this thread was really geared towards college kids. I actually agree to a certain extent. A college freshman or sophomore who can save thousands upon thousands of dollars in exorbitant, predatory room and board fees by commuting 15 minutes would be making a wise choice. But I think once you're getting up there in school, and especially when you graduate at least, it's time to move.

I definitely agree with you, Stew, but I think there's something to be said about college students living in a dorm during the school year. I went to school a few hours away from home, did the dorm thing, and stayed with my parents during summer and winter breaks to earn money for the school year. My older sister went to college but stayed at home the entire time. While this could be just her, I think she came out of that a bit more socially stunted. I mean, there's really only so much social interaction you get during classes. Even now, at 39, she still seems to have an awkward time interacting with her peers. While I'm not saying that living at home until she was 25 had everything to do with that, I think it played a part.

Excellent point and observation. People crap all over dorms (and yes, the one I stayed in was just slightly better than a crack house) but I firmly believe they are a strong part of the college experience and help new students acclimate and take off on their own for the first time. I honestly think they are also much better than apartments for freshmen.

JS

Dorms are fine, but they're not essential. I lived in them my freshman year, and it was great, but that's because I lived more than an hour away from school. Commuting wasn't an option. But I think it's borderline irresponsible to live in the dorms for 20K a year when your parents have a house and three young siblings mouths to feed 10 minutes across town. That is unless you pay your own way, which most people don't.

Sorry, but it's just her. If this logic was true, it implies you have to go to college to be comfortable in society which, while probably the opinion of academia, simply isn't true.

I don't think there's any question that college, especially freshman year, is going to be more fun if you live on campus. But to act like family finances and your own budget shouldn't enter the equation at all is indicative of exactly the kind of irresponsbile mentality this thread has discussed.

I used to entirely agree. As a slightly older fellow now, I've changed my mind. The rental situation (at least here in Orange County) is brutal. In Irvine, a studio is going to run you 1300-1600 for a nice place. For that massive investment, you get a whopping 500.00 renters credit for your taxes.....if you qualify. That's just horrible. Renting a place individually is a recipe for financial disaster.

If you can't find roommates, or the nature of your lifestyle or profession does not lend itself to mass living, you're better off sucking it up for a year or two at home and saving enough for a down-payment. My first condo had a mortgage about twice as large as the studio I had been renting. But, I could deduct the interest, purchase fees, etc., and the government ended up paying a large chunk of my mortgage. It ended up being only marginally more expensive for me to own my own place than to rent a place half the size (plus the appreciation was all my mine when I sold it).

Moral of the story: if you can suck it up, get roommates or live at home until you can buy if you are in an expensive rental market.

Wait, there are Renter's Credits in CA?

The Nonrefundable Renter's Credit is a personal income tax credit that can only be used to offset your tax liability; therefore, you must have a tax liability to claim the credit.

You qualify for the Nonrefundable Renter's Credit if you meet all of the following:

http://www.ftb.ca.gov/individuals/faq/ivr/203.html

Jeez.

But I guess you'd need it.

One of the guys I'm stationed with here in Vegas is originally from here, so he lives with his parents. He just pockets the $1000 a month the Air Force pays him as a housing allowance. I've tried telling him he needs to move out and get a place on his own, but he does make a good argument on why he doesn't need to.

My parents kicked me out when I was 18, so I didn't have a choice. My first year away from home I stayed with my ultra-religious aunt and uncle in Ottawa, then it was into apartments from then on. I couldn't imagine what it would have been like to still be living at home at 30 by choice (barring the aforementioned looking after sick relatives). How do you even talk with someone with a straight face about your living situation? Kirby and Andre are bang-on with their assessments, living on your own is all about finding your identity and building relationships.

A parental willingness to kick you out of the nest is key. After college I dragged my feet a while, living in my old room at home (largely due to inertia; once at rest I tend to stay at rest.) My mom helped me by booting my lazy ass out of the house, so I had to become self-sufficient by necessity. One of the best things she's done for me. Thanks mom!

Hey, you can do that??!?! In the Canadian military, you can only get housing money in the form of moving into PMQ's (subsidized military housing that pre-dates stainless steel so you can't get your house wet) or money towards a place that is in your name. If you are a roommate of someone else not in the military, you lose the money. And you can't get it for staying at home. I guess if he was smart he would be investing that money into a fund to buy a place of his own. But man, what an opportunity!

Another thing I realized about living on your own at a younger age is that you get a chance to make all of the "I suck with money" mistakes earlier rather than later. I find that people I know who live with their folks tend to be waaay more undisciplined with their cash than people who left the nest early. I guess that's another facet of personal growth, but I couldn't imagine having to deal with some of the consequences of being dumb with my cash at this age that I experienced when 19. Ahh, Student Credit Pack, you were my bestest friend...