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.
http://time.com/money/4778942/avocados-millennials-home-buying/?xid=time_socialflow_twitter
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