3 ms·
> that a ton of Gen Z buyers I thought the narrative was Gen Z can't afford to not live at home. Now they're buying BMWs?
by MuffinFlavored 3y ago
> that a ton of Gen Z buyers
I thought the narrative was Gen Z can't afford to not live at home. Now they're buying BMWs?
- acdha 3y agoGen Z as a whole earn less than the millennials did at the same age (as did Gen X) but that doesn’t mean everyone in an entire generation is destitute. Less spending power on average and more precarious employment _does_ mean more people who might be looking for a deal – why make a financial stretch if you don’t have to? – and if BYD is making good products, it’s not hard to imagine a generational shift not unlike what happened when a lot of Boomers decided Japanese cars were better than the Cadillacs, etc. which their parents had considered proof of having made it. Housing does also enter into the picture: people who don’t see home ownership as plausible might spend more on cars than they strictly need to because that’s an area where you can express yourself and it’s far more affordable than a mortgage. That isn’t the optimal financial choice but people like to have something nice they own and if housing isn’t it, cars are the next most prestigious thing most Americans own.
- mixmastamyk 3y agoGood job + sky-high housing prices = nice car, no home