Love Avocados Too Much? Kiss Your Home Owning Dreams Goodbye
Avocado toasts are the reason why millennials can’t afford a home, says one Australian real estate developer.
What on Earth, one would wonder, is the connection between real estate and avocados?
As it turns out, an inversely proportionate one. Too much of the latter (avocados) means none of the former. Duh. Avocados are evil.
If you think we have used the word “avocado” way too many times already, then, well, get used to it. Internet is just getting started on this juicy subject. If the latest talk of our global digital village hasn’t reached you yet, here is the gist. A super rich guy from Melbourne (it’s in Australia) claims that the reason why many millennials can’t afford to buy a home is the avocado consumption, as well as their inexplicable propensity to enjoy life.
“When I was trying to buy my first home, I wasn’t buying smashed avocado for $19 and four coffees at $4 each,” says Tim Gurner. “We’re at a point now where the expectations of younger people are very, very high. They want to eat out every day, they want travel to Europe every year.”
Statements like that generally don’t go unpunished, so we predict backlash, sarcastic remarks mentioning current job crisis and, of course, countless avocado memes (brace yourselves!) Although, if you think about it, Gurner’s avocado theory can be proved by just one word—”Brooklyn.” Millennials’ most favorite borough, home to the world’s first ever avocado bar, just “happens” to be the most unaffordable housing market in the country. Now you see?
Okay, now that we have mentioned avocados ten times, let’s get serious for a moment. Although Tim Gurner might have gone overly metaphoric here, the main idea kind of makes sense. Millennials do have a tendency of spending more than what they can afford. All these kale salads, soy lattes, green smoothies.
Do you remember how last January everybody was discussing this Bloomberg article about parents who were financially supporting their Brooklyn transplant of a daughter. The money, Bloomberg reported, was being used on rent, as well as the girl’s “frequent use of Uber car services, clothing purchases, and regular manicures and pedicures.” The mother, by the way, mentioned “14-dollar kale salads.” It seems that now isn’t the first time when green veggies get exposed as a future-ruining bad habit.
Now, living lavishly might not be the most sensible choice, but does it really have the power to ruin one’s perspectives for homeownership?
Let’s do some oversimplified calculations. The cheapest apartment that can be found on Agorafy right now is listed for $215,000. If we assume that the down payment on this lovely Sheepshead Bay pad is 20 percent, (you remember we are oversimplifying, right? – Ed.) then an aspiring homeowner would need to have something like $45,000 on their savings account. And please, don’t ask us why a millennial would possibly want to live in an area like Sheepshead Bay. We heard that avocados there are really cheap.
Anyways, on a month-to-month basis, this amount translates into $3,750. Yes, this is how much a millennial would have to set aside every month in order to save the whole sum within a year. Which equals 268 kale salad toasts, or 750 soy lattes, or (ta-da!) 375 avocado meals. Well, to be fair, Tim Gurner mentioned $19-dollar avocado toasts and, if you find one in Brooklyn, do let us know (or holla to Business Insider. They would love this intel! – Ed.)
If you do find a place that serves $19-dollar avocado toasts, you’d need to somehow eat 197 of those within a month in order to achieve the goal of wasting enough money and blowing away your home ownership ambition. And, since we assume that a $19-dollar avocado toast will taste out of this world, at the end of this ultimate, self-indulging, home-wrecking, avocado devouring journey, you will be able to look back and say, “I regret nothing. NOTHING.”