You can have your avocado toast and your own home too

by Allie Sanchez03 Jul 2017
A home and healthy fats, anyone?

Wealth management firm SoFi is offering a month’s worth of avocado toast to anyone who takes out a mortgage through their lending service in an effort to defend the good name of the gourmet favorite following the comments of Melbourne millionaire and property titan Tim Gurner.

Gurner said in an Australian 60 Minutes interview that millennials can’t afford to buy homes because they blow their income on Starbucks and avocado toast, according to a report by CNBC.

"When I was trying to buy my first home, I wasn't buying smashed avocado for $19 and four coffees at $4 each," he said. "We're at a point now where the expectations of younger people are very, very high. They want to eat out every day, they want travel to Europe every year."

His statement, according to CNBC, implied that young people cannot buy avocado toast and own homes at the same time.

The SoFi promotion is the firm’s tongue-in-cheek response to Gurner’s comments, the report said.

"Pundits have unfairly besmirched avocado toast as the reason younger Americans aren't buying homes," Joanne Bradford, chief marketing officer at SoFi, told CNBC. "We know that's wrong — it's because the traditional mortgage product hasn't evolved."

"In addition to offering a mortgage with 10 percent down and no borrower-paid private mortgage insurance required, we wanted to help people have their avocado toast and eat it too," Bradford said.


Should CFPB have more supervision over credit agencies?