![\"millennial-avocado-toast\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2017\/05\/millennial-avocado-toast.jpg\")
<\/a><\/p>\nPhoto: T.Tseng\/Flickr<\/a><\/em><\/p>\n Recently, a wealthy Australian property developer dished out some advice for Millennials hoping to get into the property market.<\/p>\n In short: resist the urge to shell out $19 on smashed avocado, and don\u2019t even think about splurging on a $4 cup of coffee.<\/p>\n \u201cWhen I was trying to buy my first home, I wasn\u2019t buying smashed avocados for $19 and four coffees at $4 each,\u201d boasts Tim Gurner during an interview with 9News<\/a>, an Aussie broadcaster.<\/p>\n At just 35 years of age, Gurner has reportedly amassed a fortune worth nearly $500 million, presumably by sacrificing more than runs to Starbucks and Whole Foods, but who knows?<\/p>\n Really, it\u2019s not hard to see why the internet wasn\u2019t grateful for Gurner\u2019s broadcast advice.<\/p>\n Soon, avocados were being referred to as currency. The New York Times, taking a break from Trump coverage, fact-checked \u201ca mogul\u2019s claims about avocado toast, millennials and home buying<\/a>.\u201d And then there were memes.<\/p>\n David Rudin, a writer from Toronto, where the average price of a home has increased 24.5 per cent in a year and incomes have not, had his own take.<\/p>\n He created a mortgage calculator just for Millennials, or those aged 18 to 34. It figures in regular avocado and latte expenses to show how soon you could have a 20 per cent downpayment for a home in one of five major North American markets, including Rudin\u2019s hometown, if you just gave up these financial vices.<\/p>\n By giving up a daily latte \u2014 and with it a little bit of downtown elite status \u2014 a Toronto Millennial could save $1,460 per year, according to the calculator. Not exactly small change, but here\u2019s where the crux of the argument deflating Gurner\u2019s argument becomes obvious: given Toronto resale homes average $916,000, a 20 per cent downpayment equals $183,200. With all the money you\u2019d save foregoing your daily latte, it would only take you until October 9th, 2142 to save for a current downpayment!<\/p>\n