New study shows smashed avocados are not to blame for millennials struggling with housing affordability
Our friends at the Millennial Report have once again highlighted the importance of not over-generalising this generation.
The study highlights how millennials (or Gen Ys) are just as careful with their money as everyone else.
The latest research shows there is a close correlation between a millennial’s perception of housing affordability, and how often they purchase cafe meals like smashed avocado on toast.
However, rather than showing the ‘avo lovers’ struggling with affordability it reflects the opposite.
The millennials that eat out every day are also the ones who find buying property the most attainable. Those struggling with housing affordability the most are also the ones who only eat out once a year.
The connection between millennials and smashed avocados was made famous by demographer Bernard Salt in The Australian in 2016. The article implied that the reason many millennials were finding housing unaffordable was due to spending too much of their income on extravagant or indulgent purchases. In particular, spending $22 on smashed avocado on toast!
The 2019 Millennial research gathered over 1,200 responses to 50 questions ranging from work, health, education, brand trust, finance, the environment, tech, media, and family. The Millennial Report provides a complete picture of what is now a larger consumer group than Gen X or Boomers. You read more about the report here.