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If young people stopped wasting their money on lavish things like toast, could they

use that money to buy a house? We crunched the numbers to find out.

Through the end of the year, we are examining life’s marquee moments through the
unique experiences of baby boomers, Gen X and millennials in a series called the
Generation Project. As part of the series, we’re bringing back some of our favourite
articles that tell these stories.

If you’re under 35, you’re a millennial. Recent culinary trends suggest that, while
reading this, you might have an overpriced latte in one hand, and a fancy piece of toast
smothered with avocadoes in the other. And some suggest that you’d rather waste
your money on an Instagrammable breakfast than make sensible investments like
buying a house.

Well, so says conventional grumpy wisdom, most recently articulated by Australian


tycoon Tim Gurner, who made international headlines this month for blasting young
home buyers for their spending habits.

The 35-year-old property developer told the Australian edition of 60 Minutes that
when he was saving for his first home, he “wasn't buying smashed avocado for $19
and four coffees at $4 each”.

He generated a flurry of debate, but also an interesting question: roughly how many
pieces of avocado toast would it actually take to afford a home? We looked at 10 cities
around the world, crunched the numbers and found out. Scroll to the bottom for our
methodology.Research by Miriam Quick. Illustrations by Piero Zagami.

We took the average cost for avocado toast in a handful of cafes in each city, and
looked at how many you’d need to forego to afford a 20% deposit on a home. House
prices are based the average price for a 90sq m apartment outside the city centre,
reported by users of cost-of-living website Numbeo.
to waste money тратить деньги впустую
lavish чрезмерный
to crunch the numbers производить математические вычисления
to make sensible investment совершить целесообразное вложение
property developer застройщик
to forgo отказываться, воздерживаться

to waste money тратить деньги впустую


lavish чрезмерный
to crunch the numbers производить математические вычисления
to make sensible investment совершить целесообразное вложение
property developer застройщик
to forgo отказываться, воздерживаться

to waste money тратить деньги впустую


lavish чрезмерный
to crunch the numbers производить математические вычисления
to make sensible investment совершить целесообразное вложение
property developer застройщик
to forgo отказываться, воздерживаться

to waste money тратить деньги впустую


lavish чрезмерный
to crunch the numbers производить математические вычисления
to make sensible investment совершить целесообразное вложение
property developer застройщик
to forgo отказываться, воздерживаться

to waste money тратить деньги впустую


lavish чрезмерный
to crunch the numbers производить математические вычисления
to make sensible investment совершить целесообразное вложение
property developer застройщик
to forgo отказываться, воздерживаться

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