We've finally figured out how young hipsters in Los Angeles can afford all that swag, from high-tops to iPads, American Apparel to Coachella tickets.
They're living at home! (Duh. Smacks self in head). Yeah, a new study says that more than one in three young adults in America lives with Mommy and Daddy:
That certainly frees up some cash for medical marijuana, that's for sure.
According to a study released this week by the Pew Research Center, 36 percent of Americans ages 18 to 31 are living back at home. And by at home we don't mean a loft on Abbot Kinney.
Yeah, 21.6 million of you living with your parents represents a record, Pew says. And if you're younger, 18 to 24, more than half of you (56 percent) are with 'rents.
Seems like you can blame the Great Recession, the researchers say:
This is the highest share in at least four decades and represents a slow but steady increase over the 32% of their same-aged counterparts who were living at home prior to the Great Recession in 2007 and the 34% doing so when it officially ended in 2009.
Men of the 18-to-31 set are more likely than women to be back at home (40 percent vs. 32). Mama's boys.
Pew also blames high unemployment among the age group (a whopping 37 percent of you kids are without regular paychecks), rising college enrollment (you all seem to want master's degrees these days) and declining rates of marriage.
Don't feel bad, though. Having multiple generations under one roof was quite normal just a few generations ago. It's not the end of the world.
Just don't let your mom know how much you spent on those skinny jeans.