Those teeth look primed to be turned into a necklace.
Corcoran Group CEO says Gen Z’s housing market struggles mirror what boomers faced 30 years ago: ‘Stop buying Starbucks coffee,’ she advises
Submitted 5 months ago by return2ozma@lemmy.world to aboringdystopia@lemmy.world
Comments
SereneSadie@lemmy.myserv.one 5 months ago
spykee@lemmings.world 5 months ago
Stupid fucking bitch.
postmateDumbass@lemmy.world 5 months 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 5 months 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.
affenlehrer@feddit.org 5 months ago
What’s about us Y-Geners, why are we always left out :'(
Devjavu@lemmy.dbzer0.com 5 months ago
You’re the hopeless crisis generation.
CPMSP@midwest.social 5 months ago
Payment’s about the same.
SaharaMaleikuhm@feddit.org 5 months ago
Booo! Get some new material!
robocall@lemmy.world 5 months ago
I don’t buy Starbucks ever. Where’s my home?
XiELEd@piefed.social 5 months ago
Stop buying Starbucks coffee
Ah shit, here we go again…
Lumisal@lemmy.world 5 months ago
That’s a good way to get a McDonald’s coffee express delivered to the face scalding hot.
chicken@lemmy.dbzer0.com 5 months ago
Yeah, sure, it’s all about individual success, nevermind the actual population level trends, it’s all on you to figure out some way to afford your life.
aesthelete@lemmy.world 5 months 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 5 months 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 5 months ago
Eh, not really. This is lemmy. Nobody hears you scream here.
I also forgot I even posted this.
Formfiller@lemmy.world 5 months ago
AtariDump@lemmy.world 5 months ago
FlashMobOfOne@lemmy.world 5 months ago
I want to punch every rich motherfucker who blames it on coffee purchases in the neck.
ruuster13@lemmy.zip 5 months ago
This is literally a Starbucks ad for boomers.
motor_spirit@lemmy.world 5 months ago
ignorant cunt
TheJesusaurus@piefed.ca 5 months 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 5 months 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.
AntiBullyRanger@ani.social 5 months ago
Ignore [billionaires]
You ok there TheJesusaurus?
Quexotic@infosec.pub 5 months 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 5 months 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
0x0@lemmy.dbzer0.com 5 months 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.
gravitas_deficiency@sh.itjust.works 5 months ago
Okay
shorts SBUX
MutantTailThing@lemmy.world 5 months ago
I haven’t had a drip of Starbucks coffee in my entire life
TheRedSpade@lemmy.world 5 months ago
It’s ok for the drinks they make where coffee is just one of several flavors. It’s trash on its own though.
AshMan85@lemmy.world 5 months ago
Coffee is not the problem, CEOs are
JohnnyCanuck@lemmy.ca 5 months 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 5 months 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).
JohnnyCanuck@lemmy.ca 5 months 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.
piwakawakas@lemmy.nz 5 months ago
Found this. No idea if the same source as OP, but says federal reserve data
foodandart@lemmy.zip 5 months ago
Yeah… I read the entire article, SOME of what she’s said isn’t too off the mark… Starting out with roomates and scrimping at first… but crabbing that someone buys coffee? Seriously?
Naah sis, you’re missing the main point… and that is percentages of income needed to get into a home today are multiples of what they were when you were starting out. Fuck that shit. Also, housing stocks were better and it had less to do with the number of units on the market, but that the market wasn’t dominated by equity firms and REITs.
My biggest beef with housing was once they put the “no money down” equation into the mix, the prices soared.
shalafi@lemmy.world 5 months ago
The coffee thing is a shortcut for saying, “Stop buying stupid shit.”
$10/day is a $300/month habit. That’s significant.
Still, not listening to the rich tell the rest of us how to navigate the world they fucked up.
OctopusNemeses@lemmy.world 5 months ago
People can do the math on that themselves. Let’s say $1000 into SP500 fund in 2010. Invest $300 per month. The markets have been returning on average about 8% per year. Next do the NASDAQ. That has been an incredible investment over the past 15 years.
UnpopularCrow@lemmy.world 5 months 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.”
avidamoeba@lemmy.ca 5 months ago
When they show you how stupid they are, believe it and remember it. The myth of meritocracy has to die.
FoxyFerengi@startrek.website 5 months 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
Hegar@fedia.io 5 months ago
Rich idiot says dumb shit is not news.
SoupBrick@pawb.social 5 months ago
But money = smart, right? /s
LadyMeow@lemmy.blahaj.zone 5 months ago
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Two_Hangmen@midwest.social 5 months 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.
Bytemeister@lemmy.world 5 months ago
Sounds about right. Real world numbers… I financed ~317,000 for my house last year at a really good rate for the time (6.51%) and my monthly payment for the house was about 2100 a month. Add in insurance, taxes and PMI (basically no one my age has 60k laying around) and I’m sitting at 2500 a month.
Sounds insane considering the “luxury apartment” I left was 1550 a month, but the rates apartment managers are charging go up ~300-400 bucks a month when your first year is up. So in a few years, this house will be much cheaper than that shitty apartment.
93maddie94@lemmy.zip 5 months ago
Not to mention taxes, which go up every year, insurance, which goes up every year, and home maintenance.
Tollana1234567@lemmy.today 5 months 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.
HeyJoe@lemmy.world 5 months 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.
HubertManne@piefed.social 5 months ago
I have about 2k and when I talk about my expenses I always mention how I actually have a very cheap living situation. I don’t know how any americans are making it.
Tollana1234567@lemmy.today 5 months 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.
Lon3star@lemmy.world 5 months ago
That’s also without escrow for taxes and insurance (some, not all states)
princess@lemmy.blahaj.zone 5 months ago
it’s one latte, michael. what could it cost, $80?
floofloof@lemmy.ca 5 months ago
CEO of a company that is actively making it harder for people to afford housing.
avidamoeba@lemmy.ca 5 months ago
These jokes write themselves.
MantisToboggon@lazysoci.al 5 months ago
Dumb cunt.
devolution@lemmy.world 5 months ago
Oh look it’s an out of touch white woman giving advice.