re: Corcoran CEO: Gen Z must stop buying Starbucks to afford to buy a house

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800 meters to get to a trailer that’s falling apart with a bunch of shite piled in the yard

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Have you ever been to Louisiana? Once you get outside the city, some of the most expensive neighborhoods can have people living in trailers a quarter mile down the road.

Average is an average. It takes the cost of homes in Los Angeles and the cost of homes in Biloxi. Not everyone lives in an area of low cost. Remote jobs are going away to a more hybrid model, and the cities where a large job market are will be inherently more expensive.

Also, that house you’re talking about is now $225k in equivalent purchasing power. That’s still $45k 20% downpayment to avoid costly PMI.

So now, you just have to avoid Starbucks for 15 years

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I once built a subdivision of 13 decent starter houses right next to a trailer park. Those houses still sell well to this day when one comes on the market. I also built 7 houses right next door to a mechanic shop with parts thrown all over the laydown yard. Put up a privacy fence and had no issues selling them. Those houses also sell well still.

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You’re a section 8 slum lord trying to justify what you do.

And for the record, I don’t give a shite if you are or not, just don’t lie about it

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Median price of what is considered a starter home is around $243K

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Okay -- and if I want 20% down on hypothetical house I would have to go without buying a single $8 coffee for *checks notes* 16.5 years.

The don't' buy coffee meme is retarded because even if you stopped doing it you aren't buying a house any sooner. lmao.

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The 71302 area code is 80% black, median household income is $36k and the labor participation rate is 55%. Median home value is $105k, over 30% poverty rate.


BUT NOT GHETTO and where the average young professional couple should live

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OK?

There is a zip code in LC that has some of the most expensive and nice houses in it, but the median is brought down by houses across the 210 loop that are ghetto

New lots in a subdivision in that zip code are selling for $125K+ and people are building million dollar houses in it on the backside of a new golf course. When comparing that zip to the zip code with Greywood, there is a huge difference in median income and other stats, despite some of the homes being way nicer than Greywood. Those stats are literally all brought down by one area. That doesn't mean the whole zip code is ghetto

One of the largest homes probably ever built in LC was just built in that "poorer" zip code.





The new St Louis school is being built in the same zip code as is a new private elementary school .


Using such a broad stroke is stupid.

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Using such a broad stroke is stupid.

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That entire zip code is ghetto dude, it’s right there in front of you. Give up, you’re embarrassing yourself.

I really don’t think you’ve ever left the lake Charles metro area

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Now add in the following:

Eating out multiple times a week
Door dashing a shake
Going out to the bar
Not cooking at home or eating leftovers
Going on nice vacations
Driving nice new vehicles

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Young people are immune to this, but healthcare, insurance, housing costs, and stagnant wages are a MUCH bigger issue than this bullshite.

People SHOULD be able to afford leisure activities and a decent home too, this isn’t fricking North Korea

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You can't accept that I met your criteria with decent starter homes

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If we just had a fundamental disagreement on what a starter home was, that’d be fine. And that particular home would qualify we’re in not smack dab in the middle of a horrible area.

But it is and you’re either a fricking moron or a liar, not sure which is worse.

Young folks should eat beans for a decade so they can live in a neighborhood 50 miles from work and grow old to become a bitter tiger droppings poster with mediocre savings