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By Kate Fowler
Internet Culture & Trends Reporter
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A man's attempt to disprove "Boomer logic" when it comes to owning a house has been praised online, after he calculated just how much canceling a Netflix subscription would actually help.
At a time when buying houses seems harder and harder for younger generations, the question of what can be done continues to arise.
For some, the apparent solution is a simple one: unsubscribe from Netflix and stop buying avocado toast. A study by King's College London this year found that half of the public in Britain believe that young people can't afford to buy a home because they spend too much on coffee, Netflix and travel.
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In 2017, an Australian millionaire famously, and controversially, said that the reason millennials couldn't afford to buy homes was because they were spending "$40 a day on smashed avocados and coffees and not working."
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It's not a claim millennials and Gen Z are willing to sit down and take though, and George aka "Frugally Fun", a money-saving TikToker, decided to use hard facts to disprove the logic.
"An old lady on the bus told me that I could afford the house deposit if I just got rid of my Netflix subscription. Maybe she's right," he said in a TikTok video, which has since been viewed over 720,000 times.
Using an Excel spreadsheet, he calculated exactly how much he would save by canceling Netflix.
"If I contributed £333.33 [$376] each month, it would only take me 60 months to raise a 20 grand deposit, which is only 5 years," he pointed out.
"With a Netflix subscription, if I cancel that I could save £11 a month which will only take me 1819 months to save a 20 grand deposit, which is only 151 years."
The numbers spoke for themselves, as George warned: "This is an example of boomer logic. Make sure to not listen to it and just carry on."
Boomers were born between 1946 and 1964. In 1964, the median home price in the United States was reportedly $19,400—which is reportedly equal to around $185,000 in today's money.
Today however, the median house price in the U.S. is around $440,300, showing how unequal the rise in inflation is to the rise in house prices.
Viewers of George's video praised the point, rushing to the comments to express their own thoughts on the matter.
"But have you considered canceling everything that gives you joy?" joked one TikTok user.
"Don't do or spend any money on anything to give you any amount of joy and you too can buy a house after years of misery!" added another.
Newsweek has contacted @frugallyxfun for comment.
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