Five charts to start your day
US living arrangement have changed
I remember when I purchased my apartment in London back in June 2010, there were a couple of guys upstairs who bought their apartment about the same time as me: Tom and Nadeem. I assumed they were gay, until Nadeem very publicly stated over beers that he had a girlfriend – he noticed my suspicions. Tom and Nadeem were friends and bought together. That’s all!
In a sense, this arrangement, although not widespread, represented a solution to our Millennial generation's unique approach to homeownership during a period of mass asset price inflation that put home ownership out of reach for many.
According to a new survey from Bankrate, 42 per cent of Millennials report purchasing a house by themselves, like me. But 14 per cent bought a home with friends. This contrasts sharply with older generations, where only 1 per cent of Baby Boomers and 4 per cent of Gen X have co-purchased with friends.
Living arrangements are changing. Friends are buying with friends. But there has also been a decline in people living with partners and spouses, and an increase in people living alone. Meanwhile, living with relatives or friends has become a decent option. I guess that’s what borrowing and debt does. It messes with the fabric of society.
Source: Chartr
Coming up:
The US dollar tends to spike during times of market weakness
Number of S&P 500 companies mentioning “inflation” during an earnings call
The UK poor have made no real gain in their living standards since 1970
North America’s youth are alarmingly unhappy
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