Mellisa Soehono, 29, says she hopes to start a family one day.
A spokesman for Jacksonville, Florida, said:
Suhono is certainly not alone. According to a recent US Census Bureau working paper, people ages 25 to 34 can get married, have children, work full-time, or even move out of their parents’ homes.
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Compared to previous generations, the share of young adults who reached these four important benchmarks was marked by a “severe drop,” census statisticians found.
About 50 years ago, almost half of those ages 25 to 34 achieved these milestones. This “marks the transition from adolescence to adulthood,” according to an analysis of the Census Bureau’s American Community Survey data — less than a quarter of them did the same today.
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Sono, who also holds debts for a university student, said she is not in financial position to buy a house or start a family. “The place I am in my life is focused on my career.
In addition to heavy student loan bills, the recent range of inflation has exacerbated affordable crunches for many by bounces back rent and home prices.
According to a 2024 report from the National Association of Realtors, the median age of first-time homeowners is currently 38, the highest ever. In the 1980s, the typical first buyer was in his late 20s.
Milestone “economic bar” is rising
Financial pressures, including rising housing costs, higher rent burdens and the need for greater economic stability, are “the major factors that slow family formation,” according to Douglas Bone Perth, a certified financial planner and president of Bone Fide Wealth in New York.
“Living with parents has become more common, and many young adults now see marriage and children as goals only after ensuring financial independence,” said Boneparth, a member of the CNBC Financial Advisors Council.
“The economic bars to start families are rising, and concerns about affordability are shaping the timing and sequence of life milestones more than previous generations,” he said.
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