PHOTO: Alexander Lau travels overseas about four times a year.

While houses in Australian capital cities were becomingly fantastically expensive, another economic phenomenon was quietly bubbling away, and now one of the all-time classic pieces of budgeting advice has lost its potency.

“You’ll never own a home if you keep going on all those holidays!” exasperated parents tell their Millennial children who are busy packing for another exotic adventure. You might have found yourself on the giving or receiving end of these words more than once.