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Millionaire tells millennials: if you want a house, stop buying avocado toast

Australian real estate mogul Tim Gurner advised young people to solve their dwelling woes by putting their $22 a pop toast toward a deposit instead

An Australian millionaire and real estate mogul has advice for millennials struggling to purchase a residence: stop buying avocado toast.

Tim Gurner, a indulgence dimension developer in Melbourne responsible for over $3.8 bn in campaigns, is fronting hot for criticisms he made on 60 Minute in Australia, seems to suggest that young people cant render to buy property because theyre wasting coin on fancy toast and overpriced chocolate.

60 Minutes Australia (@ 60 Mins)

Tim Gurner guesses our residence crisis will be resolved when young Aussies acquire the ‘incredible wealth’ from the Baby Boomers. #60Mins pic.twitter.com/ iET9sus 8qW

May 15, 2017

When I was trying to buy my first dwelling, I wasnt buying smashed avocado for $19 and four chocolates at$ 4 each, he said. Were at a top now where the high expectations of younger people are terribly, very high.

He contributed: We are coming into a new reality where a lot of beings wont own a house in their lifetime. That is just current realities. Queried if he believes young people will never own a residence, he answered: Absolutely, when youre expend $40 a era on crushed avocados and chocolates and not working. Of track.

The 35 -year-old executive then offered a point of comparison, indicates how hard he worked when he was young.

When I had my first business when I was 19, I was in the gym at 6am in the morning, and I finished at 10.30 at night, and I did it seven days a week, and I did it until I could render my first dwelling. There was no deliberations around, could I go out for breakfast, could I go out for dinner. I just worked.

Gurner is not the first to suggest that young peoples desire of avocado toast was procreating it harder for them to buy homes. Demographer Bernard Salt wrote in the Australian last year that if young people stopped going to hipster coffeehouse, they could acquire property.

He wrote: I have insured young people guild smashed avocado with deteriorated feta on five-grain toasted bread at $22 a pop and more. I can afford to eat this for lunch because I am middle aged and have raised their own families. But how can young people yield to chew like this? Shouldnt they be economising by eating at home? How often are they feeing out? Twenty-two dollars several times a week could go towards a deposit on a house.

Some compared Gurners comments to the recent contentious remarks of US congressman Jason Chaffetz, who recommended beings struggling to afford health insurance should stop buying smartphones. Maybe rather than going that new iPhone that they just love and they want to go waste the thousands of dollars on that, perhaps they should invest in their own healthcare, he said.

Gurners spokesperson did not immediately respond to a request for comment.

Read more: https :// www.theguardian.com/ lifeandstyle/ 2017/ may/ 15/ australian-millionaire-millennials-avocado-toast-house

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