Saturday, 20 May 2017


Avocados are getting a bad press these days. if "An idea isn't responsible for the people who believe in it." then a fruit (in this case) should not be held responsible for the behaviour of the people who eat it.

Or maybe that should be "A rose ... oops ... avocado by any other name would cost as much." 
Anyhow.... an article in an Australian newspaper May 15, 2017 by Jennifer Calfas was articulating something people of our generation have observed for long enough, namely, saving and spending habits of the younger generation.

Actually I notice it more when the occasion arises when I am thinking about spending a bit of money e.g. splashing out on something.  I (and other like me) have to fight the habit of a lifetime ... do I need? If I buy this, what else cannot be purchased? Deferment, i.e. putting it off until sometime in the future, was the default position.

Here is this millionaire talking about this generation's spending habits (not 1970s bathroom suites):

Millionaire to Millennials: Stop Buying Avocado Toast If You Want to Buy a Home

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."

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