A Boring Dystopia

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Corcoran Group CEO says Gen Z’s housing market struggles mirror what boomers faced 30 years ago: ‘Stop buying Starbucks coffee,’ she advises (fortune.com)

submitted 1 week ago by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

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[–] obsoleteacct@lemmy.zip 3 points 5 days ago (1 children)

I more or less agree. The home price to income ratio in the US bottomed out in '74 at 3.62-ish. A healthy economy is between 4 and 5. The peak of the housing bubble was 6.78. Today it's around 7.05. We are beyond cooked and this lady is out of her mind.

That's a legitimate frustration. We don't need to pretend interest rates were at a record low for the boomers to validate that.

[–] michaelmrose@lemmy.world 1 points 3 days ago (1 children)

Nobody said that they had low interest rates

[–] obsoleteacct@lemmy.zip 1 points 3 days ago* (last edited 3 days ago)

Yes they did. That's where this discussion started. In fact it was stated "record low interest rates."