Smug Millionaire To Millennials: Avocados Are Costing You A House

“When I was trying to buy my first home, I wasn’t buying smashed avocado for $19 and four coffees at $4 each,” said Tim Gurner.


An Australian millionaire has a simple solution for how millennials can own houses: stop eating avocados.

Tim Gurner, a luxury real estate developer in Melbourne, was asked on TV program “60 Minutes in Australia” why property has become unaffordable and this was his reply:

“When I was trying to buy my first home, I wasn’t buying smashed avocado for $19 and four coffees at $4 each,” said the man who reportedly has half-a-billion dollars in his bank account. “We’re at a point now where the expectations of younger people are very, very high.”

“We are coming into a new reality where … a lot of people won’t own a house in their lifetime. That is just the reality,” he added.

When the host asked him if some young people will never be able to own a home, he said, “Absolutely, when you’re spending $40 a day on smashed avocados and coffees and not working. Of course.”

The 35-year-old entrepreneur then offered his own experiences living the Spartan life.

“When I had my first business when I was 19, I was in the gym at 6 a.m. 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 afford my first home. There was no discussions around, could I go out for breakfast, could I go out for dinner. I just worked.”

A recent survey by HSBC found that in Australia, only 28 percent of millennials own homes. The major issue is the overwhelming cost of buying a house; many people had to get financial help from their parents to acquire one. Not surprising, since an “uninhabitable hovel” in Australia can cost over $1 million and foregoing avocados for brunch is not a feasible way to save that much money.

Gurner also failed to mention that his grandfather left him a not-insubstantial inheritance of A$34,000 ($25,207) to start his empire, so news flash for him: Not everybody's grandfathers are so generous or so rich.

Understandably, his remarks caused a furor among netizens, who claim the millionaire is out of touch of reality.








Banner/thumbnail credit: Reuters 

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