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Millionaire to Millennials: Stop Buying Avocado Toast If You Want to Buy a Home

K

kulapik

Member
Freely spending on avocados — the pricey, popular superfruit beloved by young people — may be one of the reasons why some young people can't afford a house, according to Australian millionaire and property mogul Tim Gurner.
"When I was trying to buy my first home, I wasn't buying smashed avocado for $19 and four coffees at $4 each," Gurner told the Australian news show 60 Minutes.
Only 32% of home owners were first-time buyers in 2016, the lowest point since 1987, according to a study by NerdWallet. A recent study by HSBC found that American millennials have a homeownership rate of 35%, and in Australia only about 28% of millennials own their homes. Cost is often a major factor in millennials' decisions to buy — the study found that a lot of young homeowners got a financial boost from their parents when making their purchase.
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http://time.com/money/4778942/avocados-millennials-home-buying/?xid=time_socialflow_twitter


Mandatory:
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N

Nabbis

Member
Compare inflation in the last decades between cost of goods, salaries and house prices. There is your answer.
 
S

SwiftDeath

Member
I honestly think the coffee comment is probably accurate with some of my friends

That being said the bigger issue is likely wage stagnation with ever increasing property prices. Middle Class continues to get squeezed out.
 
E

EdibleKnife

Member
Where the fuck are people getting this impression that 20-30 year olds are just buying Starbucks, iPhones and fucking Avacados all the time then wondering "Where'd all my money go" at the end of every day? I spend money on toilet paper, rice, gas and fucking pain medicine. This moronic stereotype literally only serves to convince dumbass legislators to make my life harder
 
P

PandaPandaPanda

Member
Doesn't the orange turd also believe health insurance costs $15? These people are so out of touch with realirty, lol.

anyway, I've already conceded the fact that i'll most likely never own a home (I live in the Seattle area) due to how expensive it's gotten.

Guess I better stop buying avocado toast though

/s
 
B

bomb

Unconfirmed Member
I have a friend that maxed out a credit card and cannot make the payments. Yet, still buys a $6 frappuccino everyday.
 
H

Hickbilly Deluxe

Banned
He ain't wrong though, when saving to buy your first house getting rid of bad spending habits is key.

That, and not living where housing prices are ubsurd. My last house cost me 100 grand, it would have been a 2 million dollar home in some cities.
 
Zoe

Zoe

Member
tbm24 said:
Avocados are a young people thing? Since when?
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They're definitely trendier than say 20 years ago. I never knew of anyone eating avocados growing up.

bomb said:
I have a friend that maxed out a credit card and cannot make the payments. Yet, still buys a $6 frappuccino everyday.
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Dude needs to be told about the happy hour.

I know sooooo many people ecstatic over that
 
B

Bandini

Member
Avocado toast usually cost me about 75 cents. 50 cents for half an avocado and 25 cents for the bread and butter.
 
S

Stormhammer

Member
maybe his avocado example isn't literally don't buy avocados but like trying to tell people to not splurge on pricey things when you can get alternatives while saving. maybe idk or maybe he is just rich dickhole who doesnt understand poor people because he is a fuckboi
 
F

FaintDeftone

Junior Member
These "fuck the millennials" articles are getting a bit tiring. I went to a training conference for work a month ago and they literally had a whole seminar about how millennials are fucking over our country. I just kinda slid down in my seat and looked confused the whole time.
 
Jag

Jag

Member
'77 Shortbox said:
He ain't wrong though, when saving to buy your first house getting rid of bad spending habits is key.

That, and not living where housing prices are ubsurd. My last house cost me 100 grand, it would have been a 2 million dollar home in some cities.
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Pretty much. I doubt he actually meant avocados. Just stop spending money on pricey shit and start saving early.

FaintDeftone said:
These "fuck the millennials" articles are getting a bit tiring. I went to a training conference for work a month ago and they literally had a whole seminar about how millennials are fucking over our country. I just kinda slid down in my seat and looked confused the whole time.
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My HR manager went to an HR conference and came back all concerned about how millennials were basically unhireable and uncoachable with ridiculous expectations. I told her that describes most employees, regardless of age.
 
?

____

Member
Zoe said:
They're definitely trendier than say 20 years ago. I never knew of anyone eating avocados growing up.
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Growing up, we had 2 mango trees, and the guy across the street had an avocado tree. He used to want to trade us some Mangoes for Avocados, but we just gave him the mangoes and declined the avocados.

What I'd do to still be living across the street from that guy, now.
 
J

Joni

Member
I have never bought one. Can't afford a house either. I can only save 2k each month after my needless expenses.
 
A

Admiral Woofington

Member
Stormhammer said:
maybe his avocado example isn't literally don't buy avocados but like trying to tell people to not splurge on pricey things when you can get alternatives while saving. maybe idk or maybe he is just rich dickhole who doesnt understand poor people because he is a fuckboi
Click to expand...

I don't think saving on a few bucks here and there is going to amount to much if your pay is shit lmao.
 
S

ShyMel

Member
I don't think avocados are going to be the downfall of the housing market and I don't think saving the costs for a couple trips to Starbucks is what is causing less young home owners, but I was surprised to see how much millennials and baby boomers are spending on eating out (it's linked in the article) as a percentage of their food dollars.
 
F

Fine Ham Abounds

Member
Obnoxiousness aside, spending on food honestly is one of the primary ways people get into debt. I can't find alternate supporting data atm, but I've come across this from multiple sources.
 
S

smokeandmirrors

Banned
I always love the argument "just buy a house where it's cheap!!!" Ignoring the fact that a) it's where jobs arent and b) no thanks. I'd rather not own than live in some lifeless flyover shithole even if housing prices are 100k.
 
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