Avocado Toast & Homeownership: Debunking the Millennial Myth

Image Credit: @_eatandlove_ via Twenty20

Remember when Australian millionaire Tim Gurner told his country's version of 60 Minutes that millennials couldn't buy homes because they were spending all their money on avocado toast? What he actually said was, "When I was trying to buy my first home, I wasn't buying smashed avocado for $19 and four coffees at $4 each." Yeah, it was a crazy thing to say. Well now one Australian finance company called SoFi is using that whole avocado toast debacle as a pretty brilliant promotional scheme.

For the month of July, anyone who takes out a SoFi mortgage to purchase a home will receive a month's worth of avocado toast (gluten-free bread is even an option). Their point is, "with a SoFi mortgage, you don't have to skip out on the avocado toast while saving up for a down payment." It's pretty smart, highly-memorable, and very clearly aimed at the millennial market.

BuzzFeed did a little research and found that the average income of a person who qualified for a SoFi loan is more than $170,00, so SoFi seems to be a company geared toward people who might already be in good financial shape. But whoever you are, if you qualify for SoFi you can certainly have your avocado toast and eat it too.