If there's one thing us millennials can't get enough of, it's avocado toast. It's true, and as an Australian millionaire reassured us last week, our addiction to it is why we can't afford the house. And, if anyone knows millennials best, it's millionaires.
So, how much avocado toast do we have to give up in order to find a place to live?
A writer and researcher in Toronto has made a calculator, linked here, that figures out just how much avocado toast we need to give up in order to afford a down-payment. David Rudin made the mortgage calculator to figure out how much avocado toast you need to sacrifice if you want to find a place in Toronto or Montreal. He also included US cities, like NYC and San Francisco - both pretty expensive places to live, let's be real.
If you give up avocado toast everyday in Toronto, you'll apparently have enough for a downpayment by July 20, 2067. Not bad. In Montreal, it's a bit better. If you give up avocado toast everyday in Montreal, you'll apparently have enough for a downpayment by February 8, 2035.
Rudin bases his numbers off the average housing prices in each city and the 20 percent pricetag for a downpayment on these places. It should also be noted that millionaire Tim Gurner, who told us to stop buying avocado toast, claimed that our mushed-up avocado costs $19 and coffees, $4.
He also shows in the calculator how much money us millennials can save if we give up lattes, as well. If we forwent lattes daily in Montreal, we'd have enough for a downpayment by September 4, 2061. And in Toronto? October 15, 2142. 'Cause we'll be alive then.
Well, we could always move to Regina, right?