One Australian millionaire says he knows why that is – avocado toast!
Actually, Tim Gurner’s view is not just about a passion for smashed avocado on toast, but a lifestyle which also favours overpriced coffees. Speaking on Australian TV, Gurner said that when he was saving to buy his first home, he didn’t spend money on luxury items.
While cutting back on expenses may of course help towards saving for a downpayment and mortgage costs, Gurner’s comments have been widely condemned on the internet.
In Australia, as in Canada, supply issues are a far bigger challenge to housing affordability than avacados.
More market update:
The struggle for young Canadians to become homeowners is repeated in many countries. Millennials in the US, UK and Australia are among millions worldwide who want to be first-time buyers but just can’t afford it.