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Fact-Checking A Mogul's Claims About Avocado Toast, Millennials and Home Buying

1) A 35-year-old Australian real estate mogul suggested that millennials would be more likely to buy homes if they curbed discretionary spending such as $19 smashed avocado toast for breakfast. 2) He said that when he was buying his first home, he was not spending money on expensive food and coffee like millennials do today. 3) However, research shows that millennials are no more free-spending on travel and dining than other generations, and it would take a significant amount of skipped avocado toast to make a dent in the heavy costs of home ownership.

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80 views3 pages

Fact-Checking A Mogul's Claims About Avocado Toast, Millennials and Home Buying

1) A 35-year-old Australian real estate mogul suggested that millennials would be more likely to buy homes if they curbed discretionary spending such as $19 smashed avocado toast for breakfast. 2) He said that when he was buying his first home, he was not spending money on expensive food and coffee like millennials do today. 3) However, research shows that millennials are no more free-spending on travel and dining than other generations, and it would take a significant amount of skipped avocado toast to make a dent in the heavy costs of home ownership.

Uploaded by

konganning
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Fact-Checking a Moguls Claims About

Avocado Toast, Millennials and Home Buying


By LINDA QIU and DANIEL VICTOR May 23, 2017

Millennials have enough problems as it is. Must they give up their avocado toast,
too?
In an interview with Australias 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 buy a home if they curbed their discretionary spending, citing that
expensive brunch item.

When I was trying to buy my first home, I wasnt buying smashed avocado for $19
and four coffees at $4 each, he said. Were at a point now where the expectations of
younger people are very, very high. They want to eat out every day; they want to
travel to Europe every year.

The people that own homes today worked very, very hard for it, he said, adding
that they saved every dollar, did everything they could to get up the property
investment ladder.

The advice spread on social media, and it was not well received. Some found the
statement impractical or insulting.
In fact, research suggests that people from 18 to 34, a group often referred to as
millennials, are no more freewheeling with their spending on travel and dining than
other generations. And it would take a lot of skipped avocados to put a dent in the
heavy costs of homeownership, which is not always a prudent financial goal.
Vocabulary
1. Fact-checking:
2. Mogul:
3. Avocado:
4. Millenials:
5. Melbourne, Australia:
6. Curb:
7. Discretionary spending:
8. Property investment:
9. Freewheeling:
10. Prudent:

Phrases
1. Have enough () as it is:
a. ex. Bill Gates has enough money as it is, he doesnt need more!
2. Get up the () ladder:
a. ex. Young employees have a hard time moving up the corporate
ladder.
3. Put a dent in:
a. ex. The money I earn at work will help put a dent in my student loan
payments.

Write your own sentences using the three phrases above:

Discussion Questions

1. Do you agree with the real estate moguls advice for millenials? Why or why
not?
2. Do you think it is true that millenials today are no more freewheeling than
other generations?
3. Can you think of other reasons why millenials might be unwilling (or unable)
to buy houses?
4. Do young people in Western countries have different spending habits from
young people in China? Is this article relevant for Chinese millenials?

35 (Tim Gurner)
(60 Minutes)

19 130
4 4

18 34

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