Raj Shamani says home buying is ‘completely out of reach’ for Gen Z, internet divided | Today’s news
Podcaster and entrepreneur Raj Shamani sparked an online debate after sharing his views on why many young people are comfortable splurging on small luxuries while seeming less focused on traditional financial milestones like home ownership.
The 28-year-old host of the business podcast Find It Out with Raj Shamani took to X to explain what he believes is driving spending patterns among Gen Z. His comments quickly gained traction, sparking a broader conversation about the rising cost of living, property prices and changing attitudes about financial planning.
Why Gen Z prefers less luxury
Shamani argued in his post that many young adults are finding it increasingly difficult to pursue big financial goals because those goals now seem far less attainable than they did for previous generations.
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Rising property prices, along with wages not keeping pace with housing costs, have caused many young people to disengage from long-term financial milestones such as buying a home, he said.
As a result, he suggested, they choose to spend on experiences and minor conveniences that improve their daily lives rather than depriving themselves of goals that seem distant to them.
“The reason Gen Z is comfortable spending on small luxuries like high-end coffee is because long-term milestones like buying a house feel completely out of reach in this economy. So they prioritize immediate quality of life over distant financial milestones,” X said in his post.
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The familiar debate returns
The debate is similar to one that gained international attention a few years ago when Australian property developer Tim Gurner suggested that young people could improve their chances of buying a home by cutting back on non-essentials like avocado toast and frequenting coffee shops.
While Gurner’s remarks were widely criticized at the time, Shamani’s comments revived questions about whether lifestyle spending is the real barrier to home ownership or whether broader economic factors are making home ownership increasingly difficult.
The internet divided through a shaman’s view
Shamani’s post quickly attracted reactions from users offering different perspectives on the issue.
Some have argued that Gen Z is financially savvy and embraced investments much earlier than previous generations.
One user wrote: “You’ve got this all wrong. People drink more coffee these days, premium or otherwise, because it’s readily available.”
Wrt financial milestones, genz is nicely sorted. They started investing earlier than millennials back then, negotiated better salaries, etc.
Others disagreed with the idea that economic conditions alone explain spending.
“This is bullshit, most gen z’s have millennials or gen x’s as parents who have already saved up and built a house, they just live a comfortable life, too many options,” wrote another user on X.
Several commentators also used humor to highlight the growing gap between income and housing costs.
“I did the math and realized that I only need to skip my daily iced latte for exactly four thousand years to afford the deposit, so yes, I’m absolutely getting an extra shot of espresso,” joked one X user.
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Lifestyle choices or economic reality?
Not everyone accepted Shamani’s assessment. Some users argued that spending on premium coffee and other lifestyle purchases reflected personal choices and social influences rather than a sense of financial hopelessness.
“I don’t agree. Many Gen Zs who spend on expensive coffee and small luxuries are often from families who already have homes or financial support, so it’s more about lifestyle inflation and the influence of social media than the economy making big goals impossible,” countered another user.
Young people want both, says the entrepreneur
Tanvi Raut Dessai, founder of Filter Coffee, joined the conversation and challenged the notion that younger generations have abandoned long-term financial aspirations.
According to Dessai, many young people continue to pursue goals such as home ownership, financial security and savings while allowing themselves occasional indulgences.
“Most young people I know still want a house, stability, savings and bigger financial goals. They’re just not willing to live completely joyless and wait for it all to happen,” Dessai said.
A debate reflecting larger economic issues
The discussion surrounding Shamani’s post has evolved into a wider debate about affordability, life expectations and the realities facing younger generations. While opinions remain divided over whether expensive coffee symbolizes financial irresponsibility or a sensible quality of life choice, the conversation has once again focused on the challenges many young people face as they strive to achieve traditional milestones such as owning their own home.
