millennials choose avocado toast over purchasing their first home

[Anonymous]

This person is being cute, but I agree the spending habits of young people need to change if they want to be home owners.



Freely spending on avocados — the pricey, popular superfruit beloved by young people — may be one of the reasons why some young people can't afford a house, according to Australian millionaire and property mogul Tim Gurner.



"When I was trying to buy my first home, I wasn't buying smashed avocado for $19 and four coffees at $4 each," Gurner told the Australian news show 60 Minutes.





Only 32% of home owners were first-time buyers in 2016, the lowest point since 1987, according to a study by NerdWallet. A recent study by HSBC found that American millennials have a homeownership rate of 35%, and in Australia only about 28% of millennials own their homes. Cost is often a major factor in millennials' decisions to buy — the study found that a lot of young homeowners got a financial boost from their parents when making their purchase.



"We're at a point now where the expectations of younger people are very, very high," Gruner said. "They want to eat out every day, they want to travel to Europe every year. The people that own homes today worked very, very hard for it, saved every dollar, did everything they could to get up the property investment ladder."



Millennial spending habits have been analyzed from all angles and according to Goldman Sachs researcher Lindsay Drucker, young people place value over convenience and prefer experiences over big-ticket items like homes and cars. A Food Institute analysis of 2014 data from the US Department of Agriculture also found that millennials spend about 44% of their "food dollars" on eating out where foods like avocado seem to dominate menus from fast-food staples like Starbucks to fast-casual restaurants like Chipotle.



Avocado prices around the world have soared over the last year as the super-fruit gains popularity for its health benefits. Fortune recently reported that prices will likely remain high throughout summer 2017 due to high demand and low domestic production.



Gurner isn't the only Australian critic of young people who choose to spend a lot on avocados. Mashable pointed to an October article from The Australian columnist Bernard Salt criticizing those who spend a lot on them. "I have seen young people order smashed avocado with crumbled feta on five-grain toasted bread at $22 a pop and more," he wrote.



"Twenty-two dollars several times a week could go towards a deposit on a house," he added.

http://time.com/money/4778942/avocados-millennials-home-buying/">http://time.com/money/4778942/avocados- ... me-buying/">http://time.com/money/4778942/avocados-millennials-home-buying/

[Anonymous]

I kind of agree with this article. The difference is that home prices have soared across Canada. I assume the same is true in Australian cities. My parents house in Willowdale is worth eight times what they paid for it.



That is not to say that is an excuse for irresponsible spending.  If you spend money like that you will not own a home even if prices crashed.

[Anonymous]

I kind of agree with this article. The difference is that home prices have soared across Canada. I assume the same is true in Australian cities. My parents house in Willowdale is worth eight times what they paid for it.



That is not to say that is an excuse for irresponsible spending. If you spend money like that you will not own a home even if prices crashed.

I have posted lots of times about people we know who are living beyond their means..



And most are not millennials.

[Anonymous]

This person is being cute, but I agree the spending habits of young people need to change if they want to be home owners.



Freely spending on avocados — the pricey, popular superfruit beloved by young people — may be one of the reasons why some young people can't afford a house, according to Australian millionaire and property mogul Tim Gurner.



"When I was trying to buy my first home, I wasn't buying smashed avocado for $19 and four coffees at $4 each," Gurner told the Australian news show 60 Minutes.





Only 32% of home owners were first-time buyers in 2016, the lowest point since 1987, according to a study by NerdWallet. A recent study by HSBC found that American millennials have a homeownership rate of 35%, and in Australia only about 28% of millennials own their homes. Cost is often a major factor in millennials' decisions to buy — the study found that a lot of young homeowners got a financial boost from their parents when making their purchase.



"We're at a point now where the expectations of younger people are very, very high," Gruner said. "They want to eat out every day, they want to travel to Europe every year. The people that own homes today worked very, very hard for it, saved every dollar, did everything they could to get up the property investment ladder."



Millennial spending habits have been analyzed from all angles and according to Goldman Sachs researcher Lindsay Drucker, young people place value over convenience and prefer experiences over big-ticket items like homes and cars. A Food Institute analysis of 2014 data from the US Department of Agriculture also found that millennials spend about 44% of their "food dollars" on eating out where foods like avocado seem to dominate menus from fast-food staples like Starbucks to fast-casual restaurants like Chipotle.



Avocado prices around the world have soared over the last year as the super-fruit gains popularity for its health benefits. Fortune recently reported that prices will likely remain high throughout summer 2017 due to high demand and low domestic production.



Gurner isn't the only Australian critic of young people who choose to spend a lot on avocados. Mashable pointed to an October article from The Australian columnist Bernard Salt criticizing those who spend a lot on them. "I have seen young people order smashed avocado with crumbled feta on five-grain toasted bread at $22 a pop and more," he wrote.



"Twenty-two dollars several times a week could go towards a deposit on a house," he added.

http://time.com/money/4778942/avocados-millennials-home-buying/">http://time.com/money/4778942/avocados- ... me-buying/">http://time.com/money/4778942/avocados-millennials-home-buying/

These are the same little shits who my sons will have to support when they're parents are dead and they have nobody to sponge off anymore besides the taxpayer.

[Anonymous]

These are the same little shits who my sons will have to support when they're parents are dead and they have nobody to sponge off anymore besides the taxpayer.

I don't know about that, but it does seem adolescence is lasting longer.

[Anonymous]

I kind of agree with this article. The difference is that home prices have soared across Canada. I assume the same is true in Australian cities. My parents house in Willowdale is worth eight times what they paid for it.



That is not to say that is an excuse for irresponsible spending.  If you spend money like that you will not own a home even if prices crashed.

House prices are high and the number of jobs as well as wages are low because we have too  many immigrants and foreign buyers forcing up home prices and unemployment and forcing down wages.

[Anonymous]

I kind of agree with this article. The difference is that home prices have soared across Canada. I assume the same is true in Australian cities. My parents house in Willowdale is worth eight times what they paid for it.



That is not to say that is an excuse for irresponsible spending.  If you spend money like that you will not own a home even if prices crashed.

House prices are high and the number of jobs as well as wages are low because we have too  many immigrants and foreign buyers forcing up home prices and unemployment and forcing down wages.

I don't think anyone can blame their own overspending on immigrants.

[shin]

I don't live in Canada, but I think we live in a time where more poor people are splurging on luxury items that they really can't afford. here, it's not uncommon for people who live below the poverty line to own iPhones, buy expensive designer clothes regularly, and spend lots of money on various forms of entertainment.

[Anonymous]

I don't live in Canada, but I think we live in a time where more poor people are splurging on luxury items that they really can't afford. here, it's not uncommon for people who live below the poverty line to own iPhones, buy expensive designer clothes regularly, and spend lots of money on various forms of entertainment.

I grew up in a poor family, we didn't own a car, toys for my brother and I were unusual, clothes were usually second hand as was a television and dvd player and entertainment like going to movies or restaurants was unknown..



But, my parents owned their own home..



They made the choice that home ownership was more important than indulgences.

[Anonymous]

I don't live in Canada, but I think we live in a time where more poor people are splurging on luxury items that they really can't afford. here, it's not uncommon for people who live below the poverty line to own iPhones, buy expensive designer clothes regularly, and spend lots of money on various forms of entertainment.

I know there are a lot of people like that. But, the bigger problem is too many immigrants, refugees and rich foreign investors making housing so unaffordable for regular working people.

[Anonymous]

I don't live in Canada, but I think we live in a time where more poor people are splurging on luxury items that they really can't afford. here, it's not uncommon for people who live below the poverty line to own iPhones, buy expensive designer clothes regularly, and spend lots of money on various forms of entertainment.

I know there are a lot of people like that. But, the bigger problem is too many immigrants, refugees and rich foreign investors making housing so unaffordable for regular working people.

Horseshit. The pussy generation blames everyone and every thing except the real culprit which is their own lazy and irresponsible selves. Fuck em all!!

[Anonymous]

I don't live in Canada, but I think we live in a time where more poor people are splurging on luxury items that they really can't afford. here, it's not uncommon for people who live below the poverty line to own iPhones, buy expensive designer clothes regularly, and spend lots of money on various forms of entertainment.

I know there are a lot of people like that. But, the bigger problem is too many immigrants, refugees and rich foreign investors making housing so unaffordable for regular working people.

https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcT3-1cDIDwJpS4VDNqcQbNc2yuyg7dA3FDlH0Ydjvx3PzDhdQNL">

[Anonymous]

I don't live in Canada, but I think we live in a time where more poor people are splurging on luxury items that they really can't afford. here, it's not uncommon for people who live below the poverty line to own iPhones, buy expensive designer clothes regularly, and spend lots of money on various forms of entertainment.

I know there are a lot of people like that. But, the bigger problem is too many immigrants, refugees and rich foreign investors making housing so unaffordable for regular working people.

https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcT3-1cDIDwJpS4VDNqcQbNc2yuyg7dA3FDlH0Ydjvx3PzDhdQNL">

 

[Angry White Male]

Condo's here in Vancouver sell for $500,000, at a minimum it seems...



Minimum wage is $10.00/hour.



Crack heads all have working cell phones.



People live in tents in the city.



Crack heads all seem to have a non-stop supply of smokes and drugs.



Not sure what to make of things...

[Anonymous]

Condo's here in Vancouver sell for $500,000, at a minimum it seems...



Minimum wage is $10.00/hour.



Crack heads all have working cell phones.



People live in tents in the city.



Crack heads all seem to have a non-stop supply of smokes and drugs.



Not sure what to make of things...

Drug addicts likely commit crimes to support their addictions.