Raj Shamani says buying a home feels 'entirely out of reach' for Gen Z, internet divided
Podcaster and entrepreneur Raj Shamani has ignited a discussion online after sharing his views on why many young people are comfortable spending on small luxuries
Podcaster and entrepreneur Raj Shamani has ignited a discussion online after sharing his views on why many young people are comfortable spending on small luxuries while appearing less focused on traditional financial milestones such as homeownership. The 28-year-old host of the business podcast Figuring Out with Raj Shamani took to X to explain what he believes is driving spending patterns among Gen Z. His comments quickly gained traction, prompting a wider conversation about rising living costs, property prices and changing attitudes towards financial planning. Why Gen Z Prefers Smaller Luxuries In his post, Shamani argued that many young adults are finding it increasingly difficult to aspire to major financial goals because those goals now seem far less achievable than they did for previous generations. According to him, soaring real estate prices coupled with salaries that have not kept pace with housing costs have left many young people feeling disconnected from long-term financial milestones such as purchasing a home. As a result, he suggested, they are choosing to spend on experiences and smaller comforts that improve their day-to-day lives rather than depriving themselves in pursuit of goals that feel distant.
“The reason Gen Z spends comfortably on small luxuries like high-end coffee is that long-term milestones like buying a home feel entirely out of reach in this economy. So they prioritise immediate quality of life over distant financial milestones,” he said in his X post. A Familiar Debate Returns The discussion bears similarities to a debate that gained international attention several years ago when Australian property developer Tim Gurner suggested that young people could improve their chances of buying a home by reducing spending on non-essential items such as avocado toast and frequent café visits. While Gurner’s remarks were widely criticised at the time, Shamani’s comments have revived questions about whether lifestyle spending is the real obstacle to homeownership or whether broader economic factors are making property ownership increasingly difficult. Internet Divided Over Shamani’s View Shamani’s post quickly attracted responses from users who offered differing perspectives on the issue. Some argued that Gen Z is financially aware and has embraced investing far earlier than previous generations. One user wrote, “You got this completely wrong.
People are drinking coffee, high end or otherwise, more today because it's easily available. Wrt financial milestones, genz is pretty sorted. Started investing earlier than the millennials did back in the day, negotiate better salaries etc.” Others disagreed with the idea that economic conditions alone explain spending habits. “That is bullshit, most of the gen z's have millennials or gen x as parents who have already saved and built a house for them, they just are living the comfortable life, too many choices,” another user wrote on X. Several commenters also used humour to highlight the growing gap between incomes and housing costs. “I ran the math and realized I only need to skip my daily iced latte for exactly four thousand years to afford a down payment, so yes, I am absolutely getting the extra espresso shot,” quipped one X user. Also Read | Airbnb leases 46,000 sq ft for GCC in DLF Cyber City Gurugram Lifestyle Choices Or Economic Reality? Not everyone accepted Shamani’s assessment. Some users argued that spending on premium coffee and other lifestyle purchases reflects personal choices and social influences rather than a sense of financial hopelessness.
The BriefWire