47 year old here.
Shut the fuck up you lying shit.
This is some let them eat cake bullshit disguised as ignorance off her own industry. I’m not even sure who the fuck this messaging is for.
Rich boomers who are starting to suspect that they destroyed the world and need someone to tell them everything is fine, every single person under 50 is just whiny and lazy.
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.
That’s also without escrow for taxes and insurance (some, not all states)
The latte?!
Gotta finance that latte
It’ll cost only 198 $USD in 2028 when you’re done paying 36th installment.
it’s one latte, michael. what could it cost, $80?
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.
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.
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.
Extra reason why this is dumb… Not buying a coffee will save you 3800 bucks a year. My house went up in value ~10k this year. Not buying coffee for a year doesn’t get you closer to the house. The real answer is we need a maximum wage cap, and anything above that cap is taxed at 100%. Companies need to be forced to pay workers appropriately for their work.
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.
Can someone make sure she’s already on the menu? Move her up the list a bit.
She got added to the Italian package.
30 years ago??? in 1995. That was a great market and boomers bought way before that.
Oh, look. Another out-of-touch moron, with a useless opinion.
How much Starbucks do these rich assholes drink to think stopping that purchase would get me my own home?
there are actually people who get it more than once every day on average, literally a hundreds of dollars a month expense
and the fucking dumbest part of it is that that’s still not enough to put a dent in a downpayment
Isn’t everybody drinking 25,000 worth of Starbucks a year?
Giving rich assholes more credit than they deserve: this advice is from the 90s. Boomers had to tighten their belts, pick up extra shifts, and scrimp and save to get a down payment for a “starter home”. If someone one is a fucking idiot who doesn’t understand anything about the economy for the last 30 years, they tell their kids and grandkids to do what they did…there’s no such thing as a systemic issue, all you need is grit and give the manager a handshake yadda yadda yadda.
To be fair…back in the 90’s, all you had to do to afford a mortgage was to stop drinking Starbucks.
im sure her name was just added to a few peoples lists for that statement.
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
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.
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.
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
Yeah. It’s going to be interesting when the AI bubble pops and we’re all screwed.
And by interesting, I mean it’s probably going to kill a significant number of people.
It’s gonna be like the dotccom bubble in that only the wealthiest and dumbest investors will be hurt by it. The majority of people are too poor to actually be affected by the stock market, and all the investment in AI has been under the belief that companies can use it to replace their workers.
Next week when SNAP/EBT benefits aren’t renewed is when shit is actually gonna hit the fan
3 days of hunger stand between order and revolution.
Your right on the money there!
What could a house cost? $10?
CEO of a company that is actively making it harder for people to afford housing.
These jokes write themselves.
The 0.01% has stolen $75,000,000,000,000 from US workers over the last 45 years, but sure.
Moron, return to the 1950’s and 60’s, because that was the height of US consumer buying power.
