'I wasn't buying smashed avocado for $19'Save
By NZ Herald, agencies
A young property tycoon has hit out at Generation Y claiming they need to stop travelling and spending money on overpriced food if they want to save for their first home.
Tim Gurner, 35, is worth nearly half a billion dollars since buying his first investment property at the age of 19.
The Melbourne millionaire believes it's time his generation change their spending and lifestyle habits.
"When I was trying to buy my first home, I wasn't buying smashed avocado for $19 and four coffees at $4 each," he told Channel Nine's 60 Minutes program.
"We're at a point now where the expectations of younger people are very, very high. They want to eat out every day, they want travel to Europe every year.
"This generation is watching the Kardashians and thinking that's normal - thinking owning a Bentley is normal."
The property tycoon said the next generation need to lower their expectations and realise they won't be buying up luxury homes anytime soon.
"The market has changed. You can go to Perth, you can go to Darwin. But you have to start to get realistic about your expectations.
"You might have to buy an investment property first. You might have to share with mum and dad - you might have to buy with a friend.