Are Millenial Home Buyers Really Spending Too Much Money on Avocado Toast?

After a recent segment on 60 Minutes with Australian Millionaire and real estate mogul, Tim Gurner, there has been quite the buzz on the topic of homes sales and avocado toast. While seemingly irrelevant topics, Gurner claims, “When I was trying to buy my first home, I wasn’t buying smashed avocado for $19 and four coffees at $4 each.” This not so innocuous bash on avocado toast has everyone thinking….are millennials really spending too much on avocado toast? The trendy carbohydrate has boldly pointed us to looking into Gurner’s claims.
All social media outlets show that Gurner’s claims may not be out of the question. From fresh baked sourdough to grainy wheat bread, Avocado toast has taken Instagram by storm. The trendy portrayal of this sought after toast has driven up its demand. As a result have millennial home purchases subsequently diminished?
According to San Diego Association of Realtors, not all millennials have used up their savings on feta garnished Avocado toast. In fact, SDAR claims that first time millennial home buyers are “aspirational but practical about home ownership” with a solid 85% seeing home ownership as a beneficial investment. SDAR even states that a whopping 90% of millennials are extremely interested in DIY home repairs. Maybe millennials have retained some of their parent generation’s strong work ethic after all.
So, while Tim Gurner’s claim holds a strong argument…not all millennials have completely dried up their savings accounts on trendy toast. We may even see the market start to shift towards the hands of first time home buyers.

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

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Before speaking with Arlo, I received really poor customer service at Carlos Gutierrez - Berkshire Hathaway. I was so upset that I thought all the reviews about realtors in San Diego was phony. Upon talking to Arlo, I realized that he is very knowledgeable and humble! When my mom is ready to sell her house, I will definitely give him a call. He was able to answer my questions and did not make me feel "put down" in any way. In my opinion, this is how to do business especially when it comes to real estate. I'm still so mad at the other company but he helped ease some of that frustration. Thank you.

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An up scale beach community in San Diego that, while technically within the city limits of San Diego, is considered by many to be its own city in many ways. La Jolla is home to the University of California, San Diego campus, beautiful beaches, and gorgeous scenery

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