More Americans aged 18 – 34 now live with their parents than for the past 130 years
Today is Wednesday 25th May 2016 and we are briefly discussing an interesting report published by the Pew Research Center.
According to a study reported today by the Pew Research Center (a nonpartisan American think tank which is based in Washington, D.C. which provides information on social issues, public opinion, and demographic trends shaping the United States and the world) based on data gathered in 2014 some 32.1% of adults aged 18 to 34 now live with parents compared with 31.6% living with a spouse or partner, and 14% living alone. This represents, for the first time in more than 130 years where more people of that age group live with parents compared to living with a partner.
The Report says that demographical shifts in marital status and employment are behind it; it also adds "This turn of events is fuelled primarily by the dramatic drop in the share of young Americans who are choosing to settle down romantically before age 35."
It is important for us to consider that as employment among young men has fallen, and wages remain stagnant, so the number who are living with parents has risen.
This has quite considerable consequences for house building, expenditure of domestic appliances and furnishings as well as the other purchases made by new home buyers.
This therefore bodes well for gold and silver in the longer term especially as those staying at home, could, if encouraged, be persuaded to invest in these assets as opposed to the traditional bank savings accounts offering zero interest rates or worse. Those that do work living with their parents should have reasonable disposable incomes with little to spend it on, and therefore could indeed provide an avenue for further investment into precious metals. However for this to be achieved there has to be a change of culture from a borrowing and spend environment into a thrift and save one which is difficult to bring about. What are your thoughts?
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