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Forums - General Discussion - Millionaire to Millennials: Stop Buying Avocado Toast If You Want to Buy a Home

ghost_of_fazz on 26 January 2018
mysteryman said:

Mr Gurner began his career as a property investor after purchasing a gym in Melbourne’s south in 2001 with the help of $34,000 borrowed from his grandfather.

This is the same guy who started with a $34K interest-free loan in a 2001 Melbourne housing market. I assume he was also living with family rent and utility-free. Given the same circumstances, there’s not a person I know that couldn’t get into the housing market. He’s so out of touch with reality that his comments are a sick joke. 

 

Wow, fuck that guy really. I'm baffled that there are people here that agree with what he's saying.



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d21lewis on 26 January 2018
ghost_of_fazz said:
mysteryman said:

Mr Gurner began his career as a property investor after purchasing a gym in Melbourne’s south in 2001 with the help of $34,000 borrowed from his grandfather.

This is the same guy who started with a $34K interest-free loan in a 2001 Melbourne housing market. I assume he was also living with family rent and utility-free. Given the same circumstances, there’s not a person I know that couldn’t get into the housing market. He’s so out of touch with reality that his comments are a sick joke. 

 

Wow, fuck that guy really. I'm baffled that there are people here that agree with what he's saying.

In Metal Gear, they said "Even Crazy Ivan sometime speaks the truth."

Maybe this guy isn't the best one to be giving advice considering he isn't exactly self made but his logic checks out.



numberwang on 26 January 2018
SpokenTruth said:
In fact, the entire concept is a cop out by the older generations to make themselves feel better and absolve blame for fucking everything up for the generation after them.

You paid 4 years of college with a part time summer job.
We will be paying for 4 years of college for decades with money from the very job we went to college to get.

You bought a house, a car, a retirement account, set up a college fund for your kids, afforded healthcare...all in your early 20s and on 1 income for a family of 4.
We can barely afford rent, no retirement, no college fund, can't afford healthcare...all on a 2 earner income with no kids.

So spare us the avocados and lattes. It's you skyrocketing the costs of healthcare, education and housing.

It's a slap in the face for you to fuck it all up and then blame our lack of financial stability on us eating.

Is it possible that the older generation behaved in different ways and thus had different results?

  • Start to work with 16
  • No single-lifestyle, no rent payments, instead live with your parents until you marry
  • No college, except for the few academics
  • No spending on internet, telephone, TV packages etc.
  • Prefer cheap rural America over hip metropolitan cities


DonFerrari on 26 January 2018
d21lewis said:

I've stated before, my wife is an apartment manager. About half of her tenants pay rent. The other have get government assistance. It would blow your mind to see these people with "no income" somehow having the best clothes, shoes, and hairstyles. Most of them even have cable TV and other luxuries.

"Because we're not rich, we don't deserve nice things?"
I want to reply, "Fuck no! If you can afford this stuff, you can afford to pay rent!" But, I digress. People need to get it in their mind that instant gratification fades quickly. I make a great living and yes, I splurge a bit, but I make sure the important stuff is taken care of first.

Yep... but for a lot of human beings, satisfying 2 or 3 steps of maslow is plenty and they don't care if they do this without using their own money...

So if they can have luxury for while they are young using government money they are happy and we have the moronic people asking for more goverment aid.

ghost_of_fazz said:
mysteryman said:

Mr Gurner began his career as a property investor after purchasing a gym in Melbourne’s south in 2001 with the help of $34,000 borrowed from his grandfather.

This is the same guy who started with a $34K interest-free loan in a 2001 Melbourne housing market. I assume he was also living with family rent and utility-free. Given the same circumstances, there’s not a person I know that couldn’t get into the housing market. He’s so out of touch with reality that his comments are a sick joke. 

 

Wow, fuck that guy really. I'm baffled that there are people here that agree with what he's saying.

Yep, it is very bad to see people using reason and logic.



duduspace11 "Well, since we are estimating costs, Pokemon Red/Blue did cost Nintendo about $50m to make back in 1996"

http://gamrconnect.vgchartz.com/post.php?id=8808363

Mr Puggsly: "Hehe, I said good profit. You said big profit. Frankly, not losing money is what I meant by good. Don't get hung up on semantics"

http://gamrconnect.vgchartz.com/post.php?id=9008994

Azzanation: "PS5 wouldn't sold out at launch without scalpers."

DonFerrari on 26 January 2018
numberwang said:
SpokenTruth said:
In fact, the entire concept is a cop out by the older generations to make themselves feel better and absolve blame for fucking everything up for the generation after them.

You paid 4 years of college with a part time summer job.
We will be paying for 4 years of college for decades with money from the very job we went to college to get.

You bought a house, a car, a retirement account, set up a college fund for your kids, afforded healthcare...all in your early 20s and on 1 income for a family of 4.
We can barely afford rent, no retirement, no college fund, can't afford healthcare...all on a 2 earner income with no kids.

So spare us the avocados and lattes. It's you skyrocketing the costs of healthcare, education and housing.

It's a slap in the face for you to fuck it all up and then blame our lack of financial stability on us eating.

Is it possible that the older generation behaved in different ways and thus had different results?

  • Start to work with 16
  • No single-lifestyle, no rent payments, instead live with your parents until you marry
  • No college, except for the few academics
  • No spending on internet, telephone, TV packages etc.
  • Prefer cheap rural America over hip metropolitan cities

Nope, unaceptable... you need to hate your parents for making the right choices, making your life easy and not teaching you how to fight for your needs.



duduspace11 "Well, since we are estimating costs, Pokemon Red/Blue did cost Nintendo about $50m to make back in 1996"

http://gamrconnect.vgchartz.com/post.php?id=8808363

Mr Puggsly: "Hehe, I said good profit. You said big profit. Frankly, not losing money is what I meant by good. Don't get hung up on semantics"

http://gamrconnect.vgchartz.com/post.php?id=9008994

Azzanation: "PS5 wouldn't sold out at launch without scalpers."

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Leadified on 28 January 2018
numberwang said:
SpokenTruth said:
In fact, the entire concept is a cop out by the older generations to make themselves feel better and absolve blame for fucking everything up for the generation after them.

You paid 4 years of college with a part time summer job.
We will be paying for 4 years of college for decades with money from the very job we went to college to get.

You bought a house, a car, a retirement account, set up a college fund for your kids, afforded healthcare...all in your early 20s and on 1 income for a family of 4.
We can barely afford rent, no retirement, no college fund, can't afford healthcare...all on a 2 earner income with no kids.

So spare us the avocados and lattes. It's you skyrocketing the costs of healthcare, education and housing.

It's a slap in the face for you to fuck it all up and then blame our lack of financial stability on us eating.

Is it possible that the older generation behaved in different ways and thus had different results?

  • Start to work with 16
  • No single-lifestyle, no rent payments, instead live with your parents until you marry
  • No college, except for the few academics
  • No spending on internet, telephone, TV packages etc.
  • Prefer cheap rural America over hip metropolitan cities

You severely underestimate the impact of economic conditions.

Wages have remained stagnant while the cost of living has increased between now and 1975. Most young Americans do not go to college, even though college is increasingly a requirement if you want a decent paying job. Also more young adults are living with their parents now since the 1940s. Jobs in rural areas are nice IF you can find them and internet is a necessity in today's world. Saving money helps only to a certain point.



Baalzamon on 28 January 2018
irstupid said:
Let millennials do whatever they want. I read an article the other day saying that 1 in 6 millennials have 100,000 in savings right now.



*I call complete bullshit on that, fyi.

But it's not just Avacado's or expensive coffee. Where I work, I'm pretty sure I'm the only one that eats in every single day. Most people go out to eat for lunch. They are spending like $8-10 easy every day buying lunch. If you make your lunch you will save a lot.
Then take going to bars on weekends, or going out to eat at night a lot or ordering pizza delivery, smoking, marijuana, beer, microtransactions, ect. It's a culmination of a lot of things, not just avacado's or expensive cofees that can save people thousands.

I saw that article too, then saw that they consider millennials to be ages 18-34 right now. It also doesn't factor in debt at all, so $100,000 in "savings" for 1 in 6 people really isn't that crazy.



Money can't buy happiness. Just video games, which make me happy.

mysteryman on 28 January 2018
Baalzamon said:
irstupid said:
Let millennials do whatever they want. I read an article the other day saying that 1 in 6 millennials have 100,000 in savings right now.



*I call complete bullshit on that, fyi.

But it's not just Avacado's or expensive coffee. Where I work, I'm pretty sure I'm the only one that eats in every single day. Most people go out to eat for lunch. They are spending like $8-10 easy every day buying lunch. If you make your lunch you will save a lot.
Then take going to bars on weekends, or going out to eat at night a lot or ordering pizza delivery, smoking, marijuana, beer, microtransactions, ect. It's a culmination of a lot of things, not just avacado's or expensive cofees that can save people thousands.

I saw that article too, then saw that they consider millennials to be ages 18-34 right now. It also doesn't factor in debt at all, so $100,000 in "savings" for 1 in 6 people really isn't that crazy.

So taking into account tertiary education debt, 1 in 6 millenials have a net savings of $0, while 5 in 6 have a net savings of -$100K. 



Teeqoz on 29 January 2018

Anyway, while there is some point to what he's saying, it's not a "millennial" thing. The vast majority have always been fairly fiscally irrespnsible/careless. It's just that being equally irresponsible/careless today compared to 30 years ago can do a lot more damage to your financial situation.