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How many slices of avocado toast would equal a down payment?

No wonder millennials are feeling burned about the price of housing.

Forgo your avocado indulgence, and you can own a GTA home in as little as 144 years.

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Forgo your avocado indulgence, and you can own a GTA home in as little as 144 years.

The GTA housing market has cooled a little in the past month. Prices dropped by an average of $55,604 between April and May, though they’re still 15 per cent higher than this time last year. Meanwhile, the number of home listings is actually up since last year.

So are homes finally affordable for millennials? What if, like Australian millionaire Tim Gurner suggested, they simply give up their obsession with “smashed avocado for $19 and four coffees at $4 each”? Metro lifted an idea from the BBC to find out. Assuming a 20 per cent down payment and a weekly $14 avocado-toast indulgence at Toronto’s trendy Drake Hotel, here’s how long it would take to save for a down payment in various cities simply by scrapping your toast habit. (Keep in mind: Canadian life expectancy is currently 82 years).

Brampton

Avg. home price: $733,590

Down payment: $146,718

How much toast? 10,480 pieces

Years to save: 201

City of Toronto

Avg. home price: $899,728

Down payment: $179,946

How much toast? 12,853 pieces

Years to save: 241

Oshawa

Avg. home price:  $526,774

Down payment:  $105,355

How much toast? 7,525 pieces

Years to save: 144

Mississauga   

Avg. home price: $760,645

Down payment:  $152,129

How much toast? 10,866 pieces

Years to save: 209

Markham

Avg. home price: $1,096,131

Down payment: $219,226

How much toast? 15,659 pieces

Years to save: 301

For comparison: Vancouver

Avg. home price: $967,000

Down payment: $193,400

How much toast? 13,814 pieces

Years to save: 266

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