Even Bernard Salt said home-buying hopefuls were only wasting $22 a day; now rich-list developer Tim Gurner is getting stuck into aspirational youngsters for adding a few cups of coffee to their order.

Gurner told 60 Minutes on Sunday night that young Australians can't expect to spend $40 a day on smashed avo and coffees if they want to buy their own home.

But Gurner said he "takes comfort" from the fact that when babyboomers pass on their "gigantic" wealth to the next generation, many of those now locked out of the property market will be able to afford to buy a home.

Gurner said government should be developing policy to give babyboomers an incentive to pass on their wealth earlier.

Gurner showed little sympathy for those locked out of the housing market.

"When you're spending $40 a day on smashed avocado on toast and coffees and you're not working, of course" you're not going to be able to buy your own home, he told 60 Minutes.

Gurner, who is said to have made $476 million in 10 years, attributed his own formidable success to hard work, rather than the serendipitous timing of his entry into property development during the biggest property boom the nation has ever seen. Gurner said he worked from 6am until 10.30 at night, seven days a week until he could buy his first home.  

"I think until the generation realises that the people who own their homes today worked very, very hard for it; saved every dollar, did everything they could to get up the property ladder [they won't be able to buy their own home]," he said.

Gurner said first-home buyers were aiming too high, and they weren't prepared to forego luxuries.

"I think the problem with this generation is they want the three-bedroom property in Malvern and Malvern East and Prahran and Alexandria in Sydney, and it's just not sustainable or realistic." 

“They want to eat out every day, they want to travel to Europe every year. This generation is watching the Kardashians and thinking that’s normal. Thinking that owning a Bentley is normal, that owning a BMW is normal." 

So take that house hunters.

Gurner suggests housing hopefuls lower their expectations.

"You might have to buy an investment property first. You might have to live with mum and dad. You might have to buy with a friend, but you've go to get your foot in the door, and you've got to go slowly up the ladder," he counselled. 

Gurner said conditions aren't likely to improve for young Aussies hoping to embark on their home-ownership journey.

"You wait, in two or three years, when the shock and awe of the last 12 months of no supply [takes effect], prices are going to jump again and they're going to continue to move," he forecast.

But Gurner says he takes "comfort" from the fact that baby boomers have accumulated "gigantic" wealth, which in 20 or 30 years will be passed on to younger generations.

A lot of people now locked out of home ownership will be able to buy their own home then, Gurner told 60 Minutes.

Gurner said governments should develop incentives to encourage parents to pass on their wealth earlier.

Some critics of Gurner's 60 Minutes comments, like Susie O'Brien of the Herald Sun, see Gurner's comments as offensive, while others see it as tough love.

Read more about housing affordability pressures:

Ray White highlights Brisbane's affordability with smashed avo offer

Smashed avocado on toast is the reason I can’t afford a home, according to Bernard Salt

Is real estate becoming a battleground?