Another day, another headline about the (relatively) young deprived of home ownership in our most desirable cities.

But it's not just the smashed avocados' fault – or even the Baby Boomers' and a distorting tax system.

It's also, partly, the education arms race, greedy universities, the gap year or years, and job snob millennials.

In the tradition of maximising housing doom-and-gloom reportage, the quoted Bloomberg story claims in its first paragraph that our explosive property boom "squeezes out all but the wealthiest". Three paragraphs later, it's stated that "only" 45 per cent of 25-to-34-year-olds own their own home. That would mean an amazingly large percentage of us are "the wealthiest".