The marketing team’s quick out of the blocks at ME Bank, that’s for sure.
The dust has hardly settled from Bernard Salt’s now infamous The Australian column on the weekend where he suggested young people were too busy spending all their money in hipster cafes to save for a home loan.
In particular, Salt suggested “young people order smashed avocado with crumbled feta on five-grain toasted bread at $22 a pop and more”. The cost of the treat meant there was little money left for boring things like getting a mortgage.
But only three days after the column caused outrage, ME Bank has launched a campaign that says, “Have your smashed avo and eat it too”.
The campaign is aimed at young people and allows them to borrow 80 per cent of a property’s value to a maximum loan of $700,000. (Which wouldn’t buy much in most Australian capital cities, in all truth!)
Salt’s comments have since caused widespread ridicule, many suggesting overpriced cafe meals aren’t the cause of Australia’s highly over inflated property market. That said, it’s certainly stirred a debate many agreed we needed to have.