Listen Now: Avocado Toast and a Home
Good news millennials, now you can have your avocado toast and buy a house too. About two months ago I told you about an Australian real estate mogul who said that millennials can’t afford homes because they are spending their money on things such as expensive coffee and avocado toast. Now SoFi which bills itself as a modern finance company is offering the opportunity to have it all.
For the month of July, anyone who takes out a mortgage with the company, also gets a month’s worth of avocado toast delivered to their door for free. Customers can choose gluten free bread and the ingredients will be delivered over three shipments to guarantee freshness. You will however have to toast the bread and smash the avocado on your own.
The chief marketing officer of SoFi says avocado toast isn’t the only reason younger people can’t afford a home. She says the traditional mortgage model hasn’t evolved which is why SoFi offers 10% down and no borrower paid private mortgage insurance is required. Leaving enough left over for all the frivolous items you can eat.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.