Gen-Zers Have Given Up All Hope of Buying Own Home and Are Now ‘Doom Spending’ Instead

Pinterest // @kaylin_zoey

Older generations love to lecture Gen Zers about how fewer trips to Starbucks and fewer avocado toasts will result in being able to purchase a home. However, the market has genuinely changed, and buying a house is a lot harder than it used to be. Sorry Boomers, it’s really not pumpkin spice’s fault that we can’t afford a four-bedroom property. With that in mind, ‘doom spending’ has taken over social media, and we can’t say we blame Gen Z.

The Trend

TikToker Maria Melchor explains the trend by saying, “When older people ask me how young people are affording nice things that they wouldn’t even buy for themselves. I tell them it’s because we can’t afford anything else. Homeownership or starting a family is so out of reach that we’re using that down payment or kid money on whatever it is we can’t afford that’ll bring us a semblance of the kind of adulthood we were promised. When houses are a million dollar plus and an older couple will likely outbid us anyway, we’re gonna relinquish any lingering delusions about homeownership.”

She’s Not the Only One

Other social media users echoed Melchor’s bleak sentiment. One person expressed, “My mother asked me when I’m gonna stop traveling and buy a house. I can’t afford a house but I can travel.” Another pointed out, “Older people telling me I should wait till I’m old to have fun, knowing I’ll be weak, and could have health problems at 60.” While a third said, “The future is not guaranteed, is crumbling before our eyes. Enjoying what we have while we can is the way to go.”

Pinterest // @perry <3

As dark as these viewpoints are, they’re all kind of right. Now, please excuse us while we crawl into a corner and cry.