A generation-wide obsession with avocados is apparently what stands between millennials and home ownership, according to one property mogul.
Australian developer Tim Gurner, who is 35 and worth half a billion dollars, chastised the youths of the world on a recent episode of Australia's "60 Minutes."
"When I was buying my first home, I wasn't buying smashed avocado for 19 bucks and four coffees at $4 each," he said.
"I think until this generation realizes that the people that own homes today worked very, very hard for it, saved every dollar, did everything they could to get up the property ladder [they won't get ahead]," Gurner added.
"You might have to buy an investment property first, you might have to share with mum and dad, you might have to buy with a friend, but you've got to get your foot in the door and you've got to slowly get up the ladder."
Gurner began his career in property development when he was given $34,000 by his grandfather at age 19.
A study by HSBC found that the United States has a millennial home ownership rate of 35 percent. Canada, the United Kingdom and Australia all have lower rates, putting the U.S. about in the middle of the pack.
Sixty-nine percent of the 9,000 millennials in nine countries surveyed said they did not have enough money for a deposit.
HSBC did not follow up with questions about whether their average avocado consumption was to blame.
The Australian Trump?
The Australian Trump?
Your collective inability to acknowledge this obvious truth makes you all look like fools.
yrs,
rubato
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oldr_n_wsr
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Re: The Australian Trump?
My daughter (a millenial) bought her own house.
Don't know about her avacado consumption.
While she does buy the occasional starbucks, it's not a daily thing.
On a side note. In the hotel we were staying at in vegas they had a starbucks and I polluted myself by purchasing a cup of coffee from them. I got a strange look from the young lady working there when I asked for a large regular coffee. No milk (steamed or otherwise), no sugar, nothing but coffee. $4
that was the first morning there and i had yet to explore around. Later that day I found a burger king at the back of the casino and got the same large black coffee for $1.50.
Don't know about her avacado consumption.
While she does buy the occasional starbucks, it's not a daily thing.
On a side note. In the hotel we were staying at in vegas they had a starbucks and I polluted myself by purchasing a cup of coffee from them. I got a strange look from the young lady working there when I asked for a large regular coffee. No milk (steamed or otherwise), no sugar, nothing but coffee. $4
that was the first morning there and i had yet to explore around. Later that day I found a burger king at the back of the casino and got the same large black coffee for $1.50.
Re: The Australian Trump?
The Starbucks in casinos and other proprietary "properties" have much higher prices than normal. As you probably know, you can go into a standard Starbucks and get a regular coffee for the same $1.50-$2.00; in fact, it is so fast, the cashier just turns around to the coffee urn and pours a cup (hopefully you've brought your own!) and hands it over, 15-20 seconds max.