Australian real estate mogul Tim Gurner has been getting a good roasting for comments he made during a recent 60 Minutes interview.
Gurner, a millionaire luxury property developer in Melbourne, implied that young people can’t afford to buy property because they are spending “$40 a day on smashed avocados” and “not working”.
— 60 Minutes Australia (@60Mins) May 15, 2017
The story was picked up by Time and now the world knows: Aussies can’t buy houses due to the lure of smashed avos.
Millionaire to millennials: Stop buying avocado toast if you want to buy a home https://t.co/JVpbiLrvv5
— TIME (@TIME) May 15, 2017
It’s not because house prices have skyrocketed, outpacing wage growth.
It’s not because the median house price in Sydney has doubled since 2009.
It’s not because of the lack of supply or overabundance of speculative foreign investment.
Financially, millennials have plenty to be pissed about – the 1%ers owning the world, coming of age after a global financial crisis, the fact they’ll probably never own a house – so you can imagine how well Gurner’s comment has gone down with the internet.
Let’s all now unite in the Gurner roast taking place on Twitter.
— sick transit, gloria (@samknight1) May 15, 2017
Re: "millennials should stop eating avocado toast if they want to buy a house" … I did some math: pic.twitter.com/BUs7onlmNy
— Nora Biette-Timmons (@biettetimmons) May 15, 2017
As someone who spends $2000 a month on avocado toast, this article hit home https://t.co/FyQKWIbU9Y
— Nate Scott (@aNateScott) May 15, 2017
Avocado toast: $35,000
Someone good at the economy please help me budget this
— Murtaza Hussain (@MazMHussain) May 15, 2017
i actually used to own three houses, but i sold them all to buy avocado toast
— czub (@mczub) May 15, 2017
Gurner, who started out with a loan of $34,000 from his grandad, said that it all came down to hard work.
“When I had my first business when I was 19, I was in the gym at 6am 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,” he said.
As noted by The Guardian, this isn’t even the first time that avo toast has been used to explain the housing affordability issue.
Last year, demographer Bernard Salt wrote in The Australian about the “evils” of hipster cafes and how, rather than buying avo toast, millennials should be saving for a home.
We should all be grateful for heroes like Gurner and Salt for showing us the way.
Housing crisis solved! All Treasurer Scott Morrison had to do was lower the price of avos in the Budget. That would have fixed everything.