Why are LA millennials living with their parents?

There used to be a time when young adults would in their early twenties or in their late teenage years, separate from their parents, and go to live on their own. In the US situation is changing drastically, and nowhere is it more obvious than in California. Or to be more precise in Southern California. Or even more precisely – in urban areas like Los Angeles. More and more young adults are living with their parents, and this sociological and personal fact of life is a direct manifestation of something deeper that is changing in our society. Let’s explore why are LA millennials living with their parents more and more these days. Without further ado, let’s begin!

The Economy – Why are LA millennials living with their parents?

The global economic crisis was the only manifestation of something more sinister lurking below the hazy economic waters. Some nasty things have been shown by the crisis in 2008, and those things directly hit an average American family. Many people lost their jobs, some people lost their investments, and some people even lost their homes. Are global economic crisis cyclical, or are they random, no one can tell. The economy of the US is a complex system. And like any other complex system, when one part of it falls, other parts will follow. The housing market crash had a direct influence on almost every branch of economy, so it is no wonder why many young adults choose to live with their parents.

More and more LA millennials decide that moving out of their parent’s house is not financially sustainable.

For example, millennials are one of the most educated generations in US history. This is very ironic, since tuition fees are going up, (but the expected standard of living is also going up, and many people think that by going to college, they are going to make more money later in life), and that means that student debt is also going up. All of that means that many young adults don’t even have money to pay of their student debt, let alone buy or even rent a home.

California is expensive for LA millennials

California is the richest state in the US, and one of the top economies in the world. Even more so, urban areas of California are even more expensive. That means that young adults, who are ‘crippled’ by debt, usually don’t have enough money for their basic needs. This is bad news. One of the basic needs of life is roof over one’s head. This is harder and harder to get in the US, and nowhere is it more pronounced than in Los Angeles.

Rent

Renting an apartment in California is not so cheap. For the first time in history, more young adults decide to live with their parents than alone, with the roommate, or with the partner. And there are several factors why. First of all, millennials are the generation that came after the greatest economic depression since the Great Depression. And many of the jobs during the recovery don’t pay that well. So, the paycheck stays roughly the same, but the price of the rent goes up. Second, median monthly rent takes around 68% of the median monthly income of all citizens who are living in Los Angeles. And this is why many young adults, who don’t want to live with their parents, decide to go somewhere else, where rent is more affordable. And yes, moving out of your parent’s home can be difficult, especially if you don’t have the finances.

Rent can be too high for LA millennials living with their parents

LA millennials who decide to go to another state usually pick Nevada as their new state. Rent in Nevada is significantly cheaper than rent in California. And Nevada is just across the eastern border. In case you want to start over in Nevada, you should first find a stable income. If your parents have enough money, then this is great. But if they don’t, or if you want to feel more free with your own paycheck, you should try and find a job in Nevada.

Moving on your own?

Moving on your own can seem like a viable and attractive option, especially if you don’t have a stable income. But don’t be fooled. Moving on your own is, more often than not, more expensive than moving with the help of a reliable and professional moving company. And there are a couple of reasons why.

First of all, while you are moving on your own, you can easily hurt yourself. Hurting yourself is bad on its own. But if you add to that the potential medical costs, that can easily be more expensive than moving with the help of a reliable moving company. And finding the right company is crucial when moving, especially if you are moving to another state. 

More and more LA millennials decide that Nevada should be their new home.

Second, you can easily break something you own while you are trying to move to another state. And the costs of replacing and/or repairing the damage can easily be higher than the costs of hiring a moving company that can relocate you to another state. Sure, moving on your own can be a viable option if you are moving locally in California, but that also is not recommendable.

Third, you probably don’t have the right equipment for all of your stuff. Moving companies have trucks and storage, and you probably don’t have that. If you do, then what are you waiting for? Moving companies have even the right solution for your home garden relocation. Those were just some of the reasons why you need to hire a professional and reliable moving company when moving to another state like Nevada.