Property tycoon hits back at critics after coffee comments


You might recall from yesterday that Aussie property mogul millionaire Tim Gurner thought now was the time to stick his head above the parapet and make a classic, never-before-seen jibe about how millennials would be able to afford houses if they didn't gorge themselves on avocado toast constantly. Millennials in Australia are ranked second to last for home ownership in the world compared to others in their generation, according to a global study released in April.

In the interview, the 35-year-old stressed how hard he worked when he was young.

"When I was trying to buy my first home, I wasn't buying smashed avocado for $19 and four coffees at $4 each", Gurner said, revealing how he amassed his fortune.

Tim Gurner, a man who definitely, definitely goes on holiday to Dubai twice a year and had Lamborghini posters in his bedroom until he was 27, says that millennials need to put down the flat whites and smashed avo' if they want to join the property game.

"This generation is watching the Kardashians and thinking that's normal", Gurner said.

"They were also the darkest and hardest days of my life - I was only 18 and had just taken on a huge personal loan and needed to stop at nothing to ensure I didn't go under".

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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. So let's! Could we get lazy, entitled, suspicious-looking young people to buy houses if we razed the avocado orchards and salted the fields?

Demographer Bernard Salt wrote in the Australian a year ago that if young people stopped going to "hipster cafes", they could purchase property. I can afford to eat this for lunch because I am middle aged and have raised my family.

"They want to eat out every day, they want travel to Europe every year". Shouldn't they be economizing by eating at home?

Mr Gurner told 60 Minutes there was "no question" many young people today were blowing their money on a lifestyle, then whingeing about homes being too expensive. How often are they eating out?

Gurner's comments have been compared to recent remarks by United States congressman Jason Chaffetz, who suggested people struggling to afford health insurance should stop buying smartphones.