WASHINGTON —
The number of people setting up their own households has fallen to some of the lowest levels in a generation, a trend that threatens to prolong the recession.
Many people, young and old, who in more promising times would be out on their own, are finding themselves like Alan Ridenour — stuck at square one.
A few months ago, the 22-year-old Texan had imagined himself going from government-agency intern to financial analyst, moving out of his college dorm room and into a place of his own.
That was more than 50 job applications ago. He is still an intern. And instead of his own place, his current address is the couch in his sister’s place.
”It’s not exactly how you picture yourself out of college — in an internship,” he said. “You got to eventually get a job that pays the big-boy bills.”
The recession has wreaked havoc on all sorts of life plans. Tumbling stock prices have cut retirements short. Layoffs have forced middle-aged children to move in with mom. Falling home prices prompt unhappy couples to rethink orce. The larger consequence …
Read the original article at Miamiherald
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Tags: Business, finance, financial, house, Job, Layoff, pay, Recession, rent, retirement, stock
