Corcoran Group CEO says Gen Z’s housing market struggles mirror what boomers faced 30 years ago: ‘Stop buying Starbucks coffee,’ she advises
https://fortune.com/2025/10/22/corcoran-group-ceo-says-just-as-tough-to-get-on-the-property-ladder-today-as-it-was-30-years-ago-stop-buying-starbucks-coffee-gen-z-millennials-real-esate-advice/Open linkView original on lemmy.world
30 years ago huh?
1995:
Median Household Income $34,076/yr
Median House Price $114,600
2024 (only year with finalized data):
Median Household Income $83,730/yr (+145%)
Median House Price $419,300 (+265%)
Fuck yourself with a cactus stupid CEO lady
Other costs like health care, child care, and education have also exploded. Even less of that median income is disposable income.
no no, don't you see...we've changed they cpi/ppi calculations so everythings fine
Maybe stop artificially inflating the housing market by buying up investment properties that are largely left unused? What do I know though. I just live in a metro area where 30% of housing is held in Blackstone trusts.
EDIT: corrected the trust management company
Not to be that guy, but just so you don't get called a conspiracy theorist:
https://en.wikipedia.org/wiki/BlackRock_house-buying_conspiracy_theory
It's a distinction with no real difference, but someone IRL called me out on this the other day because I got Blackrock mixed up with Blackstone....
Whoops, fixed it
The company is a "luxury" real estate group, and their CEO is obviously completely divorced from reality
I wonder if she also has her own private paramilitary security team...
I never bought Starbucks coffee to begin with, but I am part of a massive number of Americans that believe this CEO (like most) makes too much money, is too disconnected from reality, and should be humbled by reality some time in their pathetic life.
If she got luigi’d I would laugh and laugh
Much like children and mines, CEOs yearn for the guillotine
JFC, how many times is Gen X going to be overlooked? Just who was really entering the workforce and struggling to pay for student loans, apartments or houses in 1995? Most boomers probably bought their first house 15-20 years prior to that.
Hint: it was not the fucking boomers. FFS.
Gen X is apparently condemned to be the middle child between boomers and Gen Y/Z.
Also, and BTW, Gen X was also given that utterly useless advice about coffee, too. It's been at least 30 years of idiots saying things like that. Gag me with a spoon and as if and like totally bogus....
Millennials still waiting to buy houses too. Get in line.
Keep on dreaming and you’ll be living it. Cut the Starbucks tho.
It was a stupid talking point in the 1990s, directed squarely at the Slacker Generation, AKA, Gen X.
It was later picked up and made into a book/religion:
https://www.rga-advisors.com/blog/just-stop-buying-lattes-origins-millennial-housing-myth