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Want to buy a home? Skip the avocado toast, real estate mogul suggests

His advice to millennials gets a storm of scorn; data shows the group is not as spendthrift as some think

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Truth is, even if a millennial assumed the eating out habits of a baby boomer, it would take around 113 years before he could afford a downpayment on a home (assuming a 20 per cent downpayment on the median price for a home in the United States, US$315,000 in March 2017, and a 1 per cent yearly yield rate).

New York

MILLENNIALS have enough problems as it is. Must they give up their avocado toast, too?

In an interview with Australia's 60 Minutes on Monday, Tim Gurner, a 35-year-old real estate mogul in Melbourne, suggested that young adults would be more likely to be able to afford to

sentifi.com

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