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Speaker 1: It's still hard, but still worth it. This is buying

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Speaker 1: a house. There's new Core Logic data out this morning.

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Speaker 1: It's a housing affordability report looks at median property values

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Speaker 1: versus median income for households. Let's put all the details

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Speaker 1: aside for a second and cut to the chase. Basically,

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Speaker 1: the good news for you, houses are worth about ten

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Speaker 1: times household in Sorry now with seven point nine percent

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Speaker 1: household income, they were worth ten times, so that is

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Speaker 1: good news. Also good news, the time it takes to

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Speaker 1: save for a deposit is now ten years. I know

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Speaker 1: this is good news because it's better than the thirteen

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Speaker 1: years that it took in twenty twenty one. So that's

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Speaker 1: the good news. The bad news from the start of

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Speaker 1: this morning mortgage payments fifty four percent of your median

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Speaker 1: household income fifty four percent, and that is ten percent

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Speaker 1: above the average. So there's good news in these bad news.

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Speaker 1: It's hard but not impossible for most people, and still

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Speaker 1: very much worse. Long term values go up. There's the

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Speaker 1: stability of owning your own place, and there's great stories

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Speaker 1: like this Aukland twenty year old Lewis Pollock, who was

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Speaker 1: in the news the other day left school early, worked

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Speaker 1: in retail, became a manager. He works hard for his

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Speaker 1: money and he saves, had no help from his parents,

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Speaker 1: and he's brought his first house at twenty, he's a homeowner.

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Speaker 1: And he's saying to other young people, you can do

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Speaker 1: it if you put your mind to it. Now. I

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Speaker 1: know this is not possible for everyone. You know, in

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Speaker 1: some circumstances it just wouldn't allow you to be able

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Speaker 1: to put the money aside to save. But for most

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Speaker 1: young people it's hard, but not impossible and well worth

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Speaker 1: the effort. For more from News Talks' b listen live

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Speaker 1: on air or online, and keep our shows with you

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Speaker 1: wherever you go with our podcasts on Irradio