"Big Short" Investor Michael Burry Tells Gen Z to Buy Only Half the House They Can Afford

Michael Burry, the investor made famous by "The Big Short," advised a 26-year-old Gen Z reader to buy a home priced at only half of what they can afford, warning that heavy mortgage debt traps workers in jobs they dislike. The advice appeared in his Substack newsletter "Cassandra Unchained," part of a 10-point list on money and life. Other recommendations included never stop exercising or learning, harness the power of compound interest, never gamble, and rent rather than buy anything that flies or floats. Burry, known for his bearish bets, donates 5% of newsletter revenue monthly to charity; this month's recipient is nonprofit clinic Siloam Health. The housing guidance lands as affordability strains U.S. buyers. The National Association of Realtors' housing affordability index stood at 105.4 in September, meaning the median-income family can generally afford a median-priced home with a 20% down payment. Regional readings diverge sharply: the Northeast registered 91.5 and the West 77.9. For first-time buyers, the average index was just 69.6 in 2026.