The U.S. Census Bureau has released new data showing that young adults are postponing major life events like buying a home, getting married, and starting a family at much higher rates than in the 197’ts. This delay is linked to soaring housing prices, student loan debt, and the long-term financial obligations many parents face in supporting their children through higher education and early career stages.
The report highlights a significant shift from the 1970s, when these milestones were typically achieved by the early 30s. Today, many young adults are delaying these milestones well into their late 20s and early 30s, with some not achieving them until their mid-30s. This trend is attributed to a combination of economic factors, including the rising cost of living, the burden of student debt, and the financial responsibilities associated with raising children in an increasingly expensive society.
Patrick Huey, owner of Victory Independent Planning, joined ‘Fox & Friends’ to comment on the report. Huey emphasized the growing financial strain on parents, noting that many are now providing substantial financial support to their children long into their adulthood. “The cost of living has increased dramatically,” Huey said. “Parents are not just helping with college tuition, but also with everyday expenses, housing, and even job training.” This trend has significant implications for both families and the broader economy, as it alters traditional family structures and economic behaviors.