With high housing costs in many parts of the U.S., the younger generation has been under increasing financial pressure and stress. How has this manifested in the younger generation? Might we see indicators such as increased suicide rates and drug overdoses in the statistics? The homicide rate for older U.S. teenagers rose to its highest point in nearly 25 years during the COVID-19 pandemic, and the suicide rate for adults in their early 20s was the worst in more than 50 years. The Centers for Disease Control and Prevention report examined the homicide and suicide rates among 10- to 24-year-olds from 2001 to 2021. Suicide and homicide death rates remained far higher for older teenagers and young adults than they were for 10- to 14-year-olds. Among 20- to 24-year-olds, the homicide death rate jumped 34% from 2019 to 2020. It held stable in 2021, but the suicide rate rose enough in 2021 to surpass the homicide rate. Gen Z homicides hit 25-year high during COVID - and the suicide rate was the worst in over 50 years, CDC study says, Mike Stobbe, Associated Press, June 15, 2023 There's been a marked uptick in so-called deaths of despair--those involving drugs, alcohol or suicide--among millennials over the last decade, according to a report released by public-health groups Trust for America's Health and Well Being Trust. Drug, alcohol and suicide deaths have risen in nearly every age group over the last decade, but the increase has been especially pronounced for younger Americans. Between 2007 and 2017, drug-related deaths increased by 108% among adults ages 18 to 34, while alcohol-related deaths increased by 69% and suicides increased by 35%, according to the report, which drew on Centers for Disease Control and Prevention data. All together, about 36,000 millennials died "deaths of despair" in 2017, with fatal drug overdoses being the biggest driver. But the report argues that there are also a number of generation-specific factors that are plaguing millennials, including financial stressors stemming from student loan debt, health care and high housing costs. Social support may also be lacking for millennials, as fewer people take part in faith- and community-based organizations and more people delay marriage. These issues can contribute to mental health conditions, and younger Americans report higher rates of depression and anxiety than previous generations. More Millennials Are Dying 'Deaths of Despair,' Report Says - Time Magazine, Jamie Ducharme, June 13, 2019 Americans aged 25 to 44 -- so-called millennials -- are dying at significantly higher rates from three leading killers than similarly aged people just 10 years ago, the latest government data shows. Looking at data collected between 2000 and 2020, the new report from the U.S. National Center for Health Statistics (NCHS) finds the biggest jump in deaths from injuries, heart disease and suicide occurred after 2019, when the pandemic began. For suicides -- the third leading killer of people aged 25 to 44 -- rates rose sharply during the past few years among Black and Hispanic Americans, but not White people, the report found. Both Black and Hispanic Americans had seen a long period of relative "stability" in suicide rates since 2000, the researchers noted. However, beginning in 2014 and continuing through 2020, suicides rose by 44% among Black millennials. Suicides rose even more sharply -- by 55% -- among Hispanic Americans between 2013 and 2020, the new report found. The pattern was different for White millennials, however. While suicide rates in that group did rise by 47% between 2000 and 2017, rates after 2017 "did not change significantly through 2020. Deaths from injuries, heart disease, suicide rise among millennials, Ernie Mundell, HealthDay News, November 16, 2022 The State of the Nation's Housing 2023 report published by Harvard's Joint Center for Housing Studies has revealed that a record number of American renters are facing difficulties in paying their rent. According to the study, a staggering 21.6 million households are spending more than one-third of their income on rent, with some even paying up to 50% of their earnings towards their apartments. This situation is alarming as housing experts recommend that tenants should spend less than 30% of their income on rent.THE STATE OF THE NATION'S HOUSING 2023 (harvard.edu) In 2021, suicide and homicide rates for children and young adults ages 10 to 24 in the US were the highest they’ve been in decades, according to a new report from the US Centers for Disease Control and Prevention. Suicide and homicide were the second and third leading causes of death for this age group. The homicide rate for this age group in 2021 was the highest it's been since 1997, and the suicide rate was the highest on record, since 1968. Suicide rates surpassed homicide rates for this age group in 2010 and have continued rising for the past decade. But a large spike in homicide rates during the first year of the Covid-19 pandemic brought the rates for both types of violent death together for the first time in a decade. For children ages 10 to 14, however, a large gap remained. The suicide rate in 2021 was twice as high as the homicide rate, according to the CDC report. Youth, young adults are dying from suicide and homicide at highest rates in decades, CDC report says, Deidre McPhillips, CNN, June 15, 2023 Between 2014 and 2017, rates of depression among millennials surged by 31%related thread: Millennials' Chronic Health Problems Will Limit Their Lifetime Earnings related threads: Are Millennials screwed? Hikikomori now appearing in U.S. Americans can't afford to have children, a look at that
In Australia: Young adults throughout the country are battling worsening housing affordability, with nearly two-thirds (62%) of young adults still living at home saying they cannot afford to move out, according to CoreLogic's Perceptions of Housing Affordability Report 2017. The report, which was conducted by Galaxy Research, reveals the emergence of an increasingly dependent generation. Prospects are so dim that 21% of those aged 18 or over said they expect to remain with their parents until they're at least 30 years old. "Protracted affordability pressures means the outlook is bleak for many young people who want to fly the nest, so parents and their offspring need to be increasingly resourceful and innovative in the way they approach this challenge," Lisa Claes, CEO of CoreLogic, said. While 62% of respondents said having a well-paid job is the best means of getting onto the property ladder, 30% said they are holding out for an inheritance to help them purchase their first home, or are relying on some assistance from their family. More young adults can't afford to move out, Michael Mata, May 26, 2017, yourinvestmentpropertymag.com
