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Avocado Economics - Oversimplfying the Housing Market

A recent interview with Australian millionaire Tim Gurner has gained traction – particularly on social media – after TIME reported his comments that millennials cannot afford to buy homes because they insist on buying “smashed avocado for $19 and four coffees at $4 each”.  Obviously this is hyperbole and the point he is using food spending to make an argument that millennials are spending too much money on frivolous purchases.  I don’t know about you, but I’m bored with inflammatory rhetoric – I want data.  I went looking to see how much validity is behind his argument.  After an evening on the Statistics Canada website I’ve crunched the numbers.
Full disclosure, I am a millennial; I can’t afford to buy a house; I don’t like avocado; and I believe that –  perhaps – the discrepancy between millennial budgets and housing prices results from a combination of complex economic factors – not avocado toast spending.
Food Spending [i][ii] We should start with the direct claim that Mr. Gurner is …
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