In this episode, we talk about how American households have changed over the past 50 years, and how they ve changed since 1960. We also talk about the growing number of single-parent households, and the rise in the number of households without kids.
00:02:52.740What's interesting is how different everything's becoming in such a short period of time.
00:02:58.600So they are talking about how American households have changed over time.
00:03:03.560And so this was taken in 2023, 30% of people are married, no kids, 13% of people single, no kids, 17% married parents, 7% single parents, and 16% households with unmarried partners, roommates, or adult relatives.
00:03:21.320So this was, okay, wait, the composition of American households has shifted significantly since 1960, as fewer people have kids and the scale of economic resources has declined.
00:03:33.600Today, the number of households without kids exceeds those with kids, a trend that first emerged in 2014.
00:03:40.900In addition, single person households have broadly continued to incline, reaching 30% of the total last year.
00:03:47.640This figure has more than doubled the past six decades.
00:03:50.620The graphic shows the composition of American households over time, based on data from the Census Bureau.
00:03:57.780Below, we show the makeup of American households from 1960 at a time of rising costs, record home prices, and low fertility rates.
00:04:07.440In 1960, the share of U.S. households that contained married parents was 44%, which has dropped by half in 2023.
00:04:14.740Most Americans today are delaying or foregoing marriage altogether, with just 20% of women and 23% of men aged 25 being married, the lowest number on record.
00:04:25.680Projections indicate that by 2050, one-third of Americans aged 45 may remain unmarried.
00:04:31.800Meanwhile, households consuming of single parents or individuals living alone have doubled over the period, coinciding with the U.S. fertility rate, falling to a historic low of 1.6 children per woman in 2023, well below the 2.1 replacement level needed for population stability.
00:04:50.000Personal preference plays a significant role in changing attitudes towards parenthood.
00:04:55.480Amongst Americans under 50 without children, almost 60% said they didn't want kids, while 44% preferred to focus on other priorities.
00:05:05.220Financial concerns also weighed heavily, with 36% citing the cost of raising children, three times the rate amongst childless people over 50.
00:05:14.180Last year, just 16% of homes in America were considered affordable, as mortgage rates more than doubled since 2021.
00:05:23.860This represents a sharp decline from 2013, where 50% of homes were affordable, a shift that is likely shaping household dynamics as rising costs influence Americans' future choices.
00:05:34.880So, what's interesting is we, I don't know, because again, you're a decade younger than me almost, so it's a little different.
00:05:44.300But when I was growing up, we were one of six.
00:05:47.180But it wasn't abnormal for me to meet families that had three or four.
00:05:51.060I'd say over four would be pretty, like four was a lot, but like two to three was normal, maybe.
00:05:57.260And then four was not abnormal, like I could think of a decent amount of families that had four.
00:06:04.320But it's interesting because if right now only 20%, or it's even less, 17% are married parents, we can assume that half of those will fail, right?
00:06:16.040Because half have failed in the past, that's the future.
00:06:18.580So, if, like, once we have kids, what's interesting is all of our kids' friends will be single children, basically.
00:06:30.840I think that especially right now, I've noticed a lot more, you don't see many families with more than, like, even at daycares, like they have two kids.
00:06:39.380The only family that I know that has more than two kids is because they had twins.
00:07:00.680I'd say for the most part, if they have more than three kids, it's either they had twins accidentally trying for their second kid, or it's because they wanted the other gender.
00:07:09.280So, out of every 10 kids that come in, how many are only children?
00:07:13.220It depends on where you're looking at.
00:07:14.460In Illinois, I would say probably five or six out of 10 would be only children.
00:07:20.180But in Colorado, I'd say it's a higher number.
00:07:33.620Because the one thing is, when you look at data, they're, because they want, they want men to keep getting married, even though the system is really bad for them.
00:07:43.240So, they, they will always hide statistics that make marriage look bad.
00:08:46.460I was thinking, I don't think it's hit the suburbs yet, but the weird thing is, once you get into a city, it's, like, crazy how many there are.
00:08:55.520I've heard people on campus talking about it, so I'm sure, I'm sure people on campus do it, but I don't personally know anybody that does.
00:09:28.660Okay, so it's, and, because the other thing is, if it's under six, if they get divorced, I'm guessing it would be when the kid's, like, four to six.
00:10:47.860And I was like, I was like, she's living in a multi, multi-acre property with a multimillionaire, with her multiple kids, with her own business and a loving husband.