Real estate mogul Tim Gurner recently took a shot at Millennials by telling them to lay off the avocado toast in order to afford buying a new home.
Of course he took heat on social media for it, but instead of getting involved with the debate let’s get deeper: what does avocado toast really represent?
Fact: it takes an exorbitant amount of money to afford a home (in a favorable city) and your dining out habits do add up.
From someone who works closely with Millennials, avocado toast is more about lifestyle choices.
Anyone in their 20’s and early 30’s prior to having kids wants to travel. It isn’t Millennial-specific.
Companies like Whole Foods 365 have capitalized on convenience over budget with products such as ready-made food that saves time (not money).
Living a nomadic lifestyle means spending less on housing while splurging on amenities like coffee, massages, etc.
In ways, what’s going on here is minimalism 2.0 – where travel meets technology and experiences.
No one wants to look back on life and have regrets, plus what’s important to one generation isn’t to others.
For instance home buying: Boomers and Gen X’ers value having a place to call their own while Millennials welcome it, but won’t sacrifice dining out and travel in exchange for it.
Millennials are disrupters and the best example of that is: Uber.
Instead of purchasing a car and having monthly expenses, the alternative is to pay only when you need transportation. This avoids gas, repairs and insurance. Besides taxi drivers, this invention has given a desirable option for both riders and drivers alike.
Air B&B is another example of not accepting the norm: hotels while paying less for housing in different cities/countries.
Avocado toast itself is an overpriced indulgence. But what it represents is choosing lifestyle and experiences over possessions.
Millennials want to have their avocado toast and eat it too.
There’s nothing wrong with that as long as it aligns with your personal values.