{"id":230,"date":"2025-09-10T00:26:00","date_gmt":"2025-09-10T00:26:00","guid":{"rendered":"https:\/\/good-worldwide.go-vip.net\/upworthy\/2025\/09\/10\/gen-z-home-buying\/"},"modified":"2025-09-10T00:26:00","modified_gmt":"2025-09-10T00:26:00","slug":"gen-z-home-buying","status":"publish","type":"post","link":"https:\/\/goodinc.com\/qa-upworthy\/2025\/09\/10\/gen-z-home-buying\/","title":{"rendered":"Gen Z couple learns how much money they’d need to earn to buy a house and can’t stop laughing"},"content":{"rendered":"

Buying a home is a big financial commitment<\/a>. The cost of housing has increased to astronomical levels, so much so that years of saving, planning, and settling for less than you’d like are the only ways to achieve the dream of owning a home<\/a>. Maybe. But this wasn’t always the case. Boomers were once able to afford<\/a> buying a home on much less income. Maybe not minimum wage, but even minimum wage earners had significantly more buying power then than they do now. <\/p>\n

One Gen Z couple did the math on how much minimum wage would need to be in 2025 to have the same buying power, and the figure is staggering. In the late ’60s through mid-70s, when many Boomers were purchasing their own homes, minimum wage was just $1.60, before it was raised to $2.10 in 1975<\/a>. <\/p>\n

\n

\"Gen<\/figure>\n

<\/p>\n

Nikki and her partner Derek reveal that in order to equal the purchasing power of Boomers, the minimum wage would need to be $66 per hour. The couple is hoping to buy a home in the future, which got their wheels turning on how the current wages compare to the wages Boomers were making. But with a number like that, the only logical thing to do was laugh. It’s almost hard to believe that if wages kept up with inflation, minimum wage would be over $50\/hour for reasonable\u2014not even fancy\u2014accommodations. <\/p>\n

A lot of people joined in on their nervous laughter and shock, with one person saying, “I don\u2019t even make $66 an hour with a master’s degree in a healthcare field.”<\/p>\n

\n
\n
@iarbosss<\/a> MIND YOU the federal minimum wage is currently $7.25\/hour. #boomers<\/a> #genz<\/a> #minimumwage<\/a> #economy<\/a> \u266c original sound – Nikki<\/a> <\/section>\n<\/blockquote><\/div>\n

Another writes, “That minimum wage converted to an annual salary is $137k btw lmao. Boomers had it so easy.”<\/p>\n

“My Boomer father said to me (a millennial) the other day ‘did you know your son’s generation will be the first that will be worse off than their parents?’ I said ‘no, Dad. That’s me. That’s MY generation’ He was SO close….” someone else shares.<\/p>\n

“My grandpa worked 60 hour weeks for ONE SUMMER and bought a whole house with it,” another person exclaims. <\/p>\n

\n

\"Gen
Family moving day: New beginnings and smiles. Photo credit: Canva<\/a><\/figcaption><\/figure>\n

<\/p>\n

This financial discrepancy is something Boomers struggle to admit. According to Detroit Legal News<\/a>, “The majority of baby boomers\u2014those born between 1946 and 1964\u2014believe younger generations simply aren\u2019t doing everything they can to afford a home.” They added, “In the Clever study, baby boomers cited several reasons they believe younger generations can\u2019t afford homes, but most blame irresponsible spending. About 71% said young adults spend more on frivolous things like travel and luxury items rather than saving for a down payment.”<\/p>\n

Boomers seem to have a skewed view of what’s happening with younger generations and their spending. A 2023 Bank of America report<\/a> shows that while Boomers increased their spending on vacations and other luxuries, younger generations pulled back due to student loans and housing prices. <\/p>\n

\n

\"Gen
Couple smiles in front of their new home. Photo credit: Canva<\/a><\/figcaption><\/figure>\n

<\/p>\n

“Millennials and Gen X hold about 87% of the country\u2019s student loan debt, which tops $1.63 trillion. In addition, 72% of those aged 44 and younger live in rental properties and saw their rent increase for the fifth straight month in August,” Detroit Legal News reveals.<\/p>\n

Actor Chris Marrone shares his own video on Instagram<\/a>, reaching the same conclusion as Nikki and Derek. He explains to BuzzFeed<\/em><\/a> that the purpose wasn’t to suggest Boomers could buy a home on minimum wage, but to show the stagnant wages. <\/p>\n

“Wages have decoupled from cost of living, housing prices, and broader economic growth over the last few decades. The original purpose of the minimum wage was to ensure that even low-wage workers could participate meaningfully in the economy. Not just survive, but live with dignity,” Marrone tells the outlet. <\/p>\n","protected":false},"excerpt":{"rendered":"

“That is diabolical.”<\/p>\n","protected":false},"author":9,"featured_media":187990,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"alternative_headline":"","alternative_description":"","alternative_featured_image":0,"rkv_announcement":{"visible":true},"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"partner_boost":false,"hide_partner_badge":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[280,145],"tags":[267,268,269,270,271,272,273,274,275,276,277,278,279,281,282,283,284,285,286,287,288,289],"sponsor":[],"rkv-people-shadow":[167],"class_list":["post-230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet","category-pop-culture","tag-baby-boomers","tag-boomers-homes","tag-buying-power","tag-current-wages","tag-economic-growth","tag-financial-commitment","tag-financial-struggle","tag-gen-z-couple","tag-gen-z-home-buying","tag-home-buying-cost","tag-housing-affordability","tag-housing-prices","tag-inflation-impact","tag-irresponsible-spending","tag-minimum-wage","tag-minimum-wage-purpose","tag-nervous-laughter","tag-purchasing-power","tag-rental-properties","tag-saving-for-home","tag-stagnant-wages","tag-student-loans"],"edit_link":null,"apple_news_notices":[],"rkv_author":{"id":167,"name":"Gabe Jewell","display_name":"Gabe Jewell","first_name":"","last_name":"","nickname":"","url":"https:\/\/goodinc.com\/qa-upworthy\/author\/gabe-jewell\/","link":"https:\/\/goodinc.com\/qa-upworthy\/author\/gabe-jewell\/","description":"","slug":"gabe-jewell","avatar_urls":[],"email":false},"yoast_head":"\nGen Z couple learns how much money they'd need to earn to buy a house and can't stop laughing - 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