In the United States, as the burden of soaring housing costs has grown and more young adults live with their parents, perceptions are changing about the once-maligned "kangaroo tribe," previously seen as having failed to move out.
On the 5th, the Wall Street Journal (WSJ) analyzed that the independence of young Americans is being delayed by recently high housing costs and student loan burdens, and that the "kangaroo tribe" living with parents is taking hold as a new housing culture.
According to the latest Survey of Household Economics and Decisionmaking (SHED) by the Federal Reserve (Fed), 49% of Americans under 30 said last year that they live with their parents. That is up 12 percentage points from 2019. About one-third of them were 25 or older.
WSJ cited surging housing costs as the biggest reason for the rise of the kangaroo tribe. The U.S. median home price is exceeding $400,000 (613.4 million won), and rents in major cities have hit record highs. On top of that, many recent college graduates are starting their working lives with student loans amounting to tens of thousands of dollars, making it increasingly difficult to move out.
Casey Wright, 28, who lives in Oxford, Michigan, moved back to the parents' house three years ago after losing two jobs in a row. Casey's father, Craig Wright, said today's housing market is very different from the 1980s, when he was in his 30s. He said he earned about $35,000 (53.65 million won) a year and bought a three-bedroom house for $70,000 (107.31 million won) at the time, which is less than one-fifth of today's U.S. median home price.
Perceptions in American society about the kangaroo tribe are also changing. In the past it was taken to mean a lack of financial independence, but now the view is spreading that it is a practical choice to save on living costs and prepare for the future. In a survey conducted this spring by financial services firm Thrivent, 55% of young adults who moved back to their parents' homes said it was for financial reasons.
This shift is affecting American society broadly. Not only are marriage and childbirth being delayed, but even home design is changing. In California and New York, there are more cases of building accessory dwelling units (ADUs) in parents' yards for adult children to live in, and homebuilders are supplying homes targeting such demand.
Temple University psychology professor Laurence Steinberg said, "Living with parents has now become the most common form of housing for Americans in this age group."
Kevin Grolig, a real estate agent in the Washington, D.C., metropolitan area, noted, "There are more cases where clients are delaying downsizing and moving because their adult children continue to live with them."