But then headline number two; "Even the middle class are struggling to pay rent".
Story number three was a report I read by JB Weir about wealth transfer, which is actually a story in itself. But the upshot is we are the 7th wealthiest country on Earth. If you do the median, i.e. half above and half below, we are the 5th wealthiest.
So if we are so wealthy, how come we can't afford rent?
If we can't afford rent, how come they are offering grocery vouchers to lure us in?
The answer, of course, lies in the specifics of each story.
The middle class line came from a unionist they called an "economist" in the story, so a man with an agenda. He cited a teacher on $60,000. Teachers don’t earn $60,000 unless there are one of the new, young ones and let's be frank, if you are new and young and on starting wages you should be flatting.
As for the voucher story, well that is a reflection of the good news. Rentals are not rising the way they were because of supply. Thousands more houses are on the market and there are more houses than punters. That sort of supply and demand equation is good for the consumer.
So, if you drum up the worst case scenario, guess what you will find? A problem, closely followed by a headline.
But what of this wealth transfer? It was an interesting report showing billions is changing hands as the boomers die and the kids get the inheritance.
Women are disproportionately benefiting over men, it will carry on well into the 2040's and is a reminder that we are not in fact the squalid, broke, backwater that many would make us out to be.
We might be a low paid or "wage economy", but we are not as economically divided as some would make out. We are not broke and through things like housing, vast sums have been amassed.
And it's currently being bequeathed and left to others.
The trick is to read the detail, not fall for the headline.
Can some not afford rent? Yes.
But it's not the norm. That's your story.
But then that doesn’t make a good headline.
Mike Hosking is a New Zealand television and radio broadcaster. He currently hosts The Mike Hosking Breakfast show on NewstalkZB on weekday mornings - where this article was sourced.
So if we are so wealthy, how come we can't afford rent?
If we can't afford rent, how come they are offering grocery vouchers to lure us in?
The answer, of course, lies in the specifics of each story.
The middle class line came from a unionist they called an "economist" in the story, so a man with an agenda. He cited a teacher on $60,000. Teachers don’t earn $60,000 unless there are one of the new, young ones and let's be frank, if you are new and young and on starting wages you should be flatting.
As for the voucher story, well that is a reflection of the good news. Rentals are not rising the way they were because of supply. Thousands more houses are on the market and there are more houses than punters. That sort of supply and demand equation is good for the consumer.
So, if you drum up the worst case scenario, guess what you will find? A problem, closely followed by a headline.
But what of this wealth transfer? It was an interesting report showing billions is changing hands as the boomers die and the kids get the inheritance.
Women are disproportionately benefiting over men, it will carry on well into the 2040's and is a reminder that we are not in fact the squalid, broke, backwater that many would make us out to be.
We might be a low paid or "wage economy", but we are not as economically divided as some would make out. We are not broke and through things like housing, vast sums have been amassed.
And it's currently being bequeathed and left to others.
The trick is to read the detail, not fall for the headline.
Can some not afford rent? Yes.
But it's not the norm. That's your story.
But then that doesn’t make a good headline.
Mike Hosking is a New Zealand television and radio broadcaster. He currently hosts The Mike Hosking Breakfast show on NewstalkZB on weekday mornings - where this article was sourced.
1 comment:
I have yet to read an intelligent story on the rental and housing market by any of the mainstream NZ media.
The articles always veer off on tangents with much vitriol directed at "greedy" landlords or sellers.
Or they propose solutions sounding like high density housing slums.
And staying true to the left / liberal mindset they like to ignore realities like "risk". Like it just does not exist.
The ongoing rants just plant seeds of resentment directed at those whose sacrifices and life efforts resulted in a small reward.
But blaming another "generation" is futile.
Every generation has fresh opportunities and it's the ability to adapt or adopt those opportunities is what defines a generation.
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