Don’t eat $22 toast if you want to buy a house

March 5, 2024 | 03:00 pm PT
Don’t eat $22 toast if you want to buy a house
Even with the saving from frugal eating habits, it will take decades to buy a tiny apartment in the suburbs at the current prices. Illustration photo by Freepik
Blaming young people’s inability to buy properties on their eating habit alone is an unreasonable opinion often shared by older generations.

Recently, I have read a story from another reader that said office workers spending VND40,000-50,000 (US$1.62-2.02) per meal on breakfast and lunch is wasteful.

The reader suggested that cutting these spending is the key to saving up large amount of money for house buying.

This reminded me of certain controversial advices given by property tycoon Tim Gurner and demographer Bernard Salt a few years ago.

Gurner said that he did not buy any smashed avocado for $19 and four coffees at $4 each when he was saving up for a house.

Bernard Salt said something similar about $22 avocado toast, which was a trendy food at the time.

Comparing young people’s spending habits to those of the older generations and blaming their inability to buy a house on those habits have sparked heated debate around the world.

I have seen several funny responses from younger people, particularly one that said: "Cutting spending on buttered buns to save for a house is a good idea, I will have enough for a down payment on a house in 2117."

It was much easier for the previous generation to own a house compared to young people today.

In recent years, housing prices have been steadily increasing, while average incomes have not kept pace.

This is much like a race between a tortoise and a hare.

Will young people really be able to buy a house just because they sacrificed their hobbies and lifestyles?

I live in Ho Chi Minh City, my salary is slightly higher than the average and I lead a frugal lifestyle, opting for cheaper foods and accommodations.

This indeed helps me save a sum of money each month.

But even with this saving, it will take decades for me to have enough money to buy a tiny apartment in the suburbs at today's prices.

However, housing prices will have risen to new heights by then.

This is why I think it is ridiculous that older people are criticizing younger generations for their eating and drinking habits.

Is it worth it to sacrifice years of enjoyment just to achieve an average standard of living?

Reader Linh Nam

*This opinion was translated into English by AI. Readers’ views are personal and do not necessarily match VnExpress’ viewpoints

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