'Oracle Of Wall Street' Takes Aim, Again, At Sexless, Gen Z Losers
Back in December, (it feels like two years ago), financial analyst Meredith Whitney, dubbed the "Oracle of Wall Street" for predicting the 2007-08 financial crisis, painted a rather dark picture for the U.S. economy due to Gen Z losers who won't stop gambling on sports long enough to have sex with women and produce the next generation of Americans.
Now, Whitney IS BACK and she's not hopping off her earlier prediction that these sexless, gambling addict, video game addict Gen Z losers will cause housing prices to fall up to 30% as Baby Boomers flood the market with housing as they downsize.
Simply put, the loner lifestyle is going to have a big impact on grandma and grandpa when they try to sell the four-bedroom, 3,200 sq. ft. house.
"You feel like you're with other people but you're actually at home alone, and that created a big chasm in young male sociability," the "Oracle" told the DailyMail. "The pace at which young men live at home versus young women live at home is around 2x, I correlated all of this with in the early, mid-2000s launch of the Xbox, Wii and PlayStation," she added.
Men aren't having sex, sports gambling is way up, the number of men who describe themselves as single is skyrocketing and video game time is up.
The consequences? Household formation is down.
"The biggest driver of home prices has historically been household formation," Whitney continued. "Household formation today is the lowest it's been in 160 years."
While Whitney is focusing on the Wall Street side of thing and what will happen to the housing market in the immediate future, there's the other side that is analyzing what this period will do to American youths who are being raised to convert dollars to play in their virtual worlds.
In 2021, a mother admitted to Good Morning America that her child had blown through $1,250 playing Roblox. "He set it up with his fingerprint and my fingerprint, so that he could access the iPad if I wasn't home," Petty told "Good Morning America." "He was able to use that fingerprint to make purchases."
From playing Roblox, kids can go with their parents to Dave & Buster's where money loaded onto cards can be used to play coin-pusher games, which are now being studied in the UK to determine if there's a risk of addiction.
To Meredity Whitney, we're left with a society will likely be left living in apartments.
"I think that homebuilders are smart. They're building a lot of rental properties. People are not going to be buying into these bigger homes," she told CNBC in December.