Stop buying everything. Trade shit. Food? Ok, buy that and nothing else. Let it all burn.
Corcoran Group CEO says Gen Z’s housing market struggles mirror what boomers faced 30 years ago: ‘Stop buying Starbucks coffee,’ she advises
Submitted 1 day ago by return2ozma@lemmy.world to aboringdystopia@lemmy.world
Comments
HowAbt2day@futurology.today 1 hour ago
potpotato@lemmy.world 1 hour ago
Grow and trade food
qarbone@lemmy.world 35 seconds ago
Acquire food from supermarkets and then leave. They just leave it sitting around all over the place, in there!
captainlezbian@lemmy.world 1 hour ago
By boomer standards I’m lower middle class as an engineer. I could theoretically afford a kid or two and a small house, and with two incomes we could even do that while having occasional vacations and retirement savings. You know, the sort of life that so long as you didn’t really fuck up you could afford as a boomer, but several years younger than me as well.
mojofrododojo@lemmy.world 4 hours ago
ok, avoiding starbucks is easy because six fucking dollars for a coffee so they can pay their CEO 6,660 times what a barista makes, just so he can fly between seattle and sfo DAILY, yeah, that’s easy, but that’s not going to transform the entire fucking economy.
what boomers faced 30 years ago? lol, record low interest rates, cheaper education, much higher % of union participation, help me out here what was the rough stuff the boomers went through 30 years ago?
NO FUCKING TELL ME I WANT TO KNOW
Jason2357@lemmy.ca 2 hours ago
If a boomer was buying a house 30 years ago, they were between 32 and 50 years old. They were not buying starter homes 30 years ago. They already had equity.
mojofrododojo@lemmy.world 2 hours ago
they were complaining about the prices for their rentals probably
PillowTalk420@lemmy.world 3 hours ago
They had to watch women, black people, queer folk and transgender people exist and they were scared.
mojofrododojo@lemmy.world 2 hours ago
the horrors
AngryCommieKender@lemmy.world 10 hours ago
The 0.01% has stolen $75,000,000,000,000 from US workers over the last 45 years, but sure.
Formfiller@lemmy.world 21 hours ago
Two_Hangmen@midwest.social 1 day ago
The median price of a home in the U.S. is about $460,000.
Let’s say by some miracle someone is able to put 20% down to avoid PMI so the cost is now $368,000. On a 7% 30 year loan your monthly payments will be $2,448/month.
So if those darn Gen Z would stop spending $80, literally every day, at Starbucks, they could afford a home.
People that say shit like this are wealthy enough to be completely out of touch with reality.
princess@lemmy.blahaj.zone 1 day ago
it’s one latte, michael. what could it cost, $80?
Lon3star@lemmy.world 1 day ago
That’s also without escrow for taxes and insurance (some, not all states)
HeyJoe@lemmy.world 23 hours ago
As someone who is paying a mortgage around the $2,500 mark, I can say this is a steal compared to renting anywhere within 1-2 hours of my area. I want to sell, but I can’t afford to… if I wanted to and move elsewhere into an apartment, I can possibly get something as low as $1500 but its run down, in a bad neighborhood, and only a studio or maybe if im lucky 1 bedroom. $2000, it’s still terrible looking from what I’ve seen. $2500 or basically a mortgage gets you something ok, but at this point, why sell and get something worse??? 3k mark is the starting point to getting you semi luxery, but I can’t afford that! That’s why I want to sell to begin with! The entire system is fucked… I don’t envy anyone that is just about to start their lives and move out.
Tollana1234567@lemmy.today 18 hours ago
better off not selling, are in a hcol. one of co-workers are getting a studio for 2k/month, its hcol in the west coast. our job isnt in tech so we arnt well off people.
93maddie94@lemmy.zip 14 hours ago
Not to mention taxes, which go up every year, insurance, which goes up every year, and home maintenance.
Tollana1234567@lemmy.today 18 hours ago
people are paying with cash, or full price right off the bat, aint no genz going to compete with that. its mostly milleneals who had been in tech for a while + having family to pitch in on the cost or repairs/renovation. our next door neighbor was like this, but they were delusional into thinking having a child gives a priority to purchase it first.
frankiehollywood@lemmy.zip 5 hours ago
Yeah probably shouldn’t be listening to this person
WanderWisley@lemmy.world 11 hours ago
GladiusB@lemmy.world 9 hours ago
Some of us aren’t buying Starbucks you dumb twat. But bills still keep escalating. We don’t need just Luigi. We need all of the Super Smash Bros.
paultimate14@lemmy.world 12 hours ago
Who is drinking Starbuccks in 2025? Just last month Starbucks closed 400 stores and laid off 900 employees in North America.
This will inevitably become “Gen Alpha is killing coffee shops”. Fewer Barista jobs are available. The small, local coffee shop that is a nice quiet place to hang out or meet up with friends closes.
The problem is ghouls like her scraping value off the top of everything and hoarding that wealth like a dragon. Removing it from the system so their own personal number goes up.
TheJesusaurus@piefed.ca 22 hours ago
This would have been a completely out of touch thing to say 10 years ago.
To be saying it today is a choice. It's willing and malicious. She's just provoking people deliberately because the response is what she's after.
Ignore her
brennesel@discuss.tchncs.de 16 hours ago
Some of her statements are even more out of touch:
[…] even somebody who works with us who’s willing to spend $40 million, they’re compromising also […]
And as a European this sounds crazy to me:
I haven’t cooked in 30 years, but [young people] love it.
0x0@lemmy.dbzer0.com 21 hours ago
Or maybe it’s virtue signaling to peers/investors rather than punching down for the sake of agitating the poors. Regardless, it’s definitely somewhere between sociopathic and malicious.
Quexotic@infosec.pub 21 hours ago
Truly. Like, I got very lucky and own a home. There is no way in hell I could afford this market and I make double what I did when I bought this house.
BakerBagel@midwest.social 13 hours ago
I was going over the numbers and i realized last week that I, at 30, make less money per year than my parents did when they were 30 WITHOUT adjusting for inflation. My rent and used car payments are also larger than their mortgage and mew car payments were. Coffee has nothing to do with it
AntiBullyRanger@ani.social 20 hours ago
Ignore [billionaires]
You ok there TheJesusaurus?
AllToRuleThemOne@lemmy.world 5 hours ago
As always there is something in german to respond to this (especially to this thumbnail):
„Du hast ein Gesicht wie ein Paar Latschen: Reintreten und wohlfühlen!“
Roughly translated to:
‚You have a face like a pair of slippers: step in and feel comfortable!‘ but with „reintreten“, here: ‚step in‘, primeraly meaning ‚to kick in‘.
Have fun with this random knowledge, copyright by K.I.Z., „Der durch die Scheibeboxxxer“.
floofloof@lemmy.ca 1 day ago
CEO of a company that is actively making it harder for people to afford housing.
avidamoeba@lemmy.ca 23 hours ago
These jokes write themselves.
merdaverse@lemmy.zip 12 hours ago
2016 - millennials should stop buying avocado toast
2025 - gen Z should stop buying Starbucks
2034 - gen alpha should stop buying socks
wampus@lemmy.ca 6 hours ago
Eh, read the first little bit of the article, and bailed as soon as she was noted as saying stuff along the lines of “back then it was harder, because there were fewer desirable areas people wanted to live!”.
In other words, back then you had cheaper options in the other areas, which have since become unaffordable for starter homes. Nowadays you gotta move out to the middle of nowhere, where there’re no jobs.
So idiot/detached CEO confirmed from my pov, her appearance at least matches her apparent personality.
DarkFuture@lemmy.world 5 hours ago
I guess I’d believe this if all the hard data didn’t prove it wrong.
Maybe I should become a conservative so I don’t have to bother with hard data anymore.
robocall@lemmy.world 20 hours ago
I don’t buy Starbucks ever. Where’s my home?
Baggie@lemmy.zip 9 hours ago
It’s really fucking weird for this article to not be pointed at Millennials. Not better, kind of worse actually, and very weird. Poor bastards have it worse than we did and they’re starting to become the punching bag for no reason.
Trainguyrom@reddthat.com 9 hours ago
It’s just the sign that us millennials have gotten old enough to no longer be the young adults that these wealthy fucks punch down on
buddascrayon@lemmy.world 9 hours ago
Technically you’re talking about zennials, or gen Z’ers however you want to refer to them. Millennials (1980-1999) are actually pretty well off in comparison to anyone born after Y2K.
wampus@lemmy.ca 6 hours ago
Eh, I wouldn’t say ‘anyone’, but rather ‘most’. There are gen z in tech who made ridiculous salaries for years, salaries that dwarf the salaries of most in older generations. I mean, as an easy example I’m sure Big Balls and the DOGE boys made a killing fucking the government for Elon.
devolution@lemmy.world 12 hours ago
Oh look it’s an out of touch white woman giving advice.
Wizard_Pope@lemmy.world 10 hours ago
I think what we gen Z need to do is to nail her to a fucking tree and then use her as target practice. Or skin her and then use the leather we get from that so we can make a windmill that generates energy. At least that way she will have contributed something to society.
spykee@lemmings.world 19 hours ago
Stupid fucking bitch.
Xenny@lemmy.world 6 hours ago
I did, still poor. I get half my meals for free (food service) still poor. I split rent with 4 other people to the point where my bills are the lowest they’ve ever been in my life, still poor. Still poor, still poor and not making enough and everything keeps getting more expensive.
postmateDumbass@lemmy.world 19 hours ago
Boomers needed houses 50 years ago.
Gen X needed apartments 30 years ago.
Now you need a nice Transit Van.
Retro_unlimited@lemmy.world 10 hours ago
Cheap RV living on YouTube is quite popular because people are choosing to live in their vehicles and the freedom to be anywhere.
When I moved, I choose to live in my car for several months. It’s not too bad.
CPMSP@midwest.social 18 hours ago
Payment’s about the same.
affenlehrer@feddit.org 18 hours ago
What’s about us Y-Geners, why are we always left out :'(
Devjavu@lemmy.dbzer0.com 16 hours ago
You’re the hopeless crisis generation.
XiELEd@piefed.social 20 hours ago
Stop buying Starbucks coffee
Ah shit, here we go again…
Lumisal@lemmy.world 18 hours ago
That’s a good way to get a McDonald’s coffee express delivered to the face scalding hot.
aesthelete@lemmy.world 21 hours ago
I have no idea who this person is nor why I would possibly give a shit what she has to say about anything.
ook@discuss.tchncs.de 20 hours ago
But now you commented somewhere online and kept interactions up with the article. So it has achieved what it meant to. To be rage bait.
aesthelete@lemmy.world 19 hours ago
Eh, not really. This is lemmy. Nobody hears you scream here.
I also forgot I even posted this.
MantisToboggon@lazysoci.al 1 day ago
Dumb cunt.
UnpopularCrow@lemmy.world 1 day ago
Holy shit that was tough to finish that article. There are so many quotes from this idiot that are just fucking nonsense. Here are my top three:
“It is just as tough,” Liebman exclusively tells Fortune. “Back then, it was more difficult in some ways because you had less neighborhoods that people would live.”
Plus, she says, never has there been more opportunity at young people’s fingertips—not just when it comes to inventory on the market: “If you’re not afraid to show off your skill set, and you try and find yourself an opportunity where you’re going to be appreciated and where people are going to allow you to expand your horizons and hopefully add value to the company that you’re at, I think it’s an unbelievable time.”
“It’s not that expensive,” she adds. “So if you’re willing to move around, which people are now, I think that there are definitely opportunities out there… You’re going to secure a much, much less expensive apartment than if you are insistent on being in the West Village.”
FoxyFerengi@startrek.website 1 day ago
I’m about to list my house for 20k more than I purchased it 3 years ago. When it goes on the market there will only be two other houses in the same price range (~100k range, with mine in the middle).
What she’s saying is so insanely out of touch. That’s a 70+ year old house and my elderly millennial ass could just afford it after years of saving
I won’t be recomping the improvements I made to the house, that 20k is basically going to the realtors lol
avidamoeba@lemmy.ca 23 hours ago
When they show you how stupid they are, believe it and remember it. The myth of meritocracy has to die.
NRay7882@lemmy.world 10 hours ago
Let’s sink some yachts.
JohnnyCanuck@lemmy.ca 1 day ago
I agree that buying your first home takes some sacrifices. But the sacrifices even 20 years ago were significantly less than they are now, let alone 40 or more years ago. I would hope that someone in her position would understand that it’s not about saving $5 or $10 a day on Starbucks, or even buying a cheaper phone. The disparity between income and home price is just completely different.
Median household income in the US in 1980: $21000
Median home price: $47000 (2x)Median household income in the US in 2000: $42000
Median home price: $163000 (4x)Median household income in the US in 2020: $67000
Median home price: $327000 (5x)It doesn’t take a genius to see the discrepancy here. That’s a lot of fucking Starbucks coffees to not buy to make up the difference.
Note: I’m using US numbers because of the context.
aeiou_ckr@lemmy.world 21 hours ago
Not disagreeing with the numbers but could you provide your source? I would like to use this next time my family says a house is cheap/good deal ($500k for 2b 2b in the sticks).
piwakawakas@lemmy.nz 19 hours ago
Found this. No idea if the same source as OP, but says federal reserve data
JohnnyCanuck@lemmy.ca 8 hours ago
I did it really quick, and just looked up the numbers from searches. There might be some difference from different sources, but it’s in the ballpark.
That said, I’ve been following up on a bit and (for example) I’m changing the 1980 housing price to 62k, but the 3x still shows the issue.
BlameTheAntifa@lemmy.world 4 hours ago
Can someone make sure she’s already on the menu? Move her up the list a bit.