Buying a house is probably the single biggest investment in your life, and more and more young people are finding themselves priced out of the market to the point that they’re no longer even vaguely interested in finding a true home.
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There are countless reasons for the existence of this situation, but Australian millionaire and property mogul Tim Gurner (excellent name) figures that he knows the truth of why this is the case – it’s because millennials are spending all their money on avocado toast:
When I was trying to buy my first home, I wasn’t buying smashed avocado for $19 and four coffees at $4 each.
We’re at a point now where the expectations of younger people are very, very high.
They want to eat out every day, they want to travel to Europe every year.
The people that own homes today worked very, very hard for it, saved every dollar, did everything they could to get up the property investment ladder.
This generation is watching the Kardashians and thinking that’s normal – thinking owning a Bentley is normal.
Well, whilst I think Gurner’s opinions are slightly simplistic, I suppose you could argue that he has a point about entitled millennials spending all their money on crap and not saving it, as this is something I’m sure a lot of us see every day. However, I think that there’s a lot more going on that’s preventing people from buying a house and it’s not all to do with people spending money on avocados. Eloquently made point though sure.
His opinion is slightly devalued in my eyes though when it turns out that Gurner bought his first property with $34,000 borrowed from his grandfather. Sounds like he really worked his ass off saving money for that. To be fair to the guy, he’s now a multimillionaire after working pretty hard in his career, but it’s a lot easier when someone helps you out with a deposit right off the bat, isn’t it?
If you want to end your avocado habit, maybe read this article about why they completely suck in the first place. It’s true.