Millenials have proven reluctant when it comes to buying their first homes, with many starting far later in life than previous generations, and a growing minority opting out of home ownership altogether. Some blame rising housing prices, which have skyrocketed in recent years in comparison to the increase in salaries. Others blame the rise in popularity of non-traditional lifestyles and an emphasis on experiences over things. Whatever the reason, developers have had to get creative in order to attract new home buyers. One developer in Vancouver, a city synonymous with high real estate prices, has done exactly that.
Responding to a popular meme sparked by Australian millionaire Tim Gunter’s comments, the developer hopes to attract potential home buyers with the promise of free avocado toast for a year with the purchase of a new unit. Gunter’s comments came from an interview with Australia’s 9 News in which he stated “When I was trying to buy my first home, I wasn’t buying smashed avocado for $19 and four coffees at $4 each.” The comment soon caught the ire of millenials and quickly became an internet meme, with the BBC even creating an “Avocado Toast Index,” an analysis of how many avocado toasts home buyers would have to sacrifice to save for a down payment, as their way of joining in on the fun.
The Vancouver developer in question hopes to ride on the meme’s popularity as well. Rather than offer up a serving of avocado toast to each and every buyer, the developer is actually including a gift card for a local restaurant with each unit purchase. The gift card’s value is based on the cost of 52 orders of avocado toast at the restaurant, one for each weekend of the year.
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