Almost half of first-home buyers in New Zealand expect help from the Bank of Mum and Dad, according to a new report. 

OneChoice's Kiwi Housing Trends survey of more than 500 Kiwis found that 48% needed financial assistance from family to get onto the property ladder. 

But of those who did receive support from their parents, 70% said they were worried about the pressure it placed on them. 

Opes Partners’ Ed McKnight told Mike Hosking first-home buyers are really keen to get onto the ladder right now, as houses are more affordable than they were before the Covid-19 pandemic. 

The main thing he’s been seeing, he says, is parents getting a loan against their paid-off house and passing it along to their kids to use as a deposit – in many cases the kids are taking responsibility for paying off that loan as well. 

LISTEN ABOVE 

Almost half of first-home buyers in New Zealand expect help from the Bank of Mum and Dad, according to a new report.&nbsp;
OneChoice's Kiwi Housing Trends survey of more than 500 Kiwis found that 48% needed financial assistance from family to get onto the property ladder.&nbsp;
But of those who did receive support from their parents, 70% said they were worried about the pressure it placed on them.&nbsp;
Opes Partners’ Ed McKnight told Mike Hosking first-home buyers are really keen to get onto the ladder right now, as houses are more affordable than they were before the Covid-19 pandemic.&nbsp;
The main thing he’s been seeing, he says, is parents getting a loan against their paid-off house and passing it along to their kids to use as a deposit – in many cases the kids are taking responsibility for paying off that loan as well.&nbsp;
LISTEN ABOVE&nbsp;

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The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Ed McKnight: Economist at Opes Partners on the number of first-home buyers turning to their parents for financial assistance

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ee271f33-e147-4510-ac0b-b447015945aa/transcript

Unusually for me, I feel like I should come to the defence of Gen Z. 

These are the kids aged 14-29. We complain a lot about them, about how soft they are, how they lack resilience, and what a bunch of complainers they are. 

The latest to join in this week was Michelle Obama, who said they aren’t developing the resilience they need because of a culture of instant gratification. And then told them they need bad bosses and boring jobs if they want to be successful. 

Now, Michelle Obama is right. We’ve all had to pass through the boring jobs. For me it was the drive through at McDonalds in Bombay. 

We’ve all had to be paid poorly – $32,000 a year is what I started on. 

We’ve all had to have the awful boss, or bosses. 

Gen Z is only experiencing what we all did, and like we also did, they have unrealistic expectations about how awesome and fantastic life is going to be as soon as they get their first paycheck. 

And sure, some of them do have a lack of resilience. That’s what happens when your parents are Gen Xers and millennials who helicopter parented you and gentle parented you and you never learned how to feel properly sad or uncomfortable. 

But they are also, I think, better at setting boundaries than any of us before. 

And some of that is what we’re seeing and calling "complaining" and "a lack of resilience". 

We put up with demands to do extra work, unpaid. They know that’s a rort. 

We went to parties and get-togethers we didn’t want to just because we thought we had to. They say no. 

We allowed our bosses to give us zero pay rises while inflation shot up. They know that’s basically a pay cut. 

I think it’s two sides of the same coin. 

And again, we probably have gentle parenting to thank for teaching them to use their words and set boundaries in a way that most of us never learned. 

So next time we hear criticism of Gen Z, and trust me they’re annoying so it will happen, it might pay to ask; is this a lack of resilience, a lack of toughness, or is it just that they know how to say no? 

Unusually for me, I feel like I should come to the defence of Gen Z.&nbsp;
These are the kids aged 14-29. We complain a lot about them, about how soft they are, how they lack resilience, and what a bunch of complainers they are.&nbsp;
The latest to join in this week was Michelle Obama, who said they aren’t developing the resilience they need because of a culture of instant gratification. And then told them they need bad bosses and boring jobs if they want to be successful.&nbsp;
Now, Michelle Obama is right. We’ve all had to pass through the boring jobs. For me it was the drive through at McDonalds in Bombay.&nbsp;
We’ve all had to be paid poorly – $32,000 a year is what I started on.&nbsp;
We’ve all had to have the awful boss, or bosses.&nbsp;
Gen Z is only experiencing what we all did, and like we also did, they have unrealistic expectations about how awesome and fantastic life is going to be as soon as they get their first paycheck.&nbsp;
And sure, some of them do have a lack of resilience. That’s what happens when your parents are Gen Xers and millennials who helicopter parented you and gentle parented you and you never learned how to feel properly sad or uncomfortable.&nbsp;
But they are also, I think, better at setting boundaries than any of us before.&nbsp;
And some of that is what we’re seeing and calling "complaining" and "a lack of resilience".&nbsp;
We put up with demands to do extra work, unpaid. They know that’s a rort.&nbsp;
We went to parties and get-togethers we didn’t want to just because we thought we had to. They say no.&nbsp;
We allowed our bosses to give us zero pay rises while inflation shot up. They know that’s basically a pay cut.&nbsp;
I think it’s two sides of the same coin.&nbsp;
And again, we probably have gentle parenting to thank for teaching them to use their words and set boundaries in a way that most of us never learned.&nbsp;
So next time we hear criticism of Gen Z, and trust me they’re annoying so it will happen, it might pay to ask; is this a lack of resilience, a lack of toughness, or is it just that they know how to say no?&nbsp;

Heather du Plessis-Allan: Are we a bit harsh on Gen Z?

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/d32d3efb-c631-4871-84c0-b45f0172f121/transcript

Mike Hosking and Kate Hawkesby are off on holiday, so Kerre Woodham and Tim Wilson joined Heather du Plessis-Allan to Wrap the Week that Was.

They discussed last night's Radio and Podcast Awards (and the afterparty), Gen Z, and whether Speaker of the House Gerry Brownlee is "too grouchy". 

LISTEN ABOVE

Mike Hosking and Kate Hawkesby are off on holiday, so Kerre Woodham and Tim Wilson joined Heather du Plessis-Allan to Wrap the Week that Was.
They discussed last night's Radio and Podcast Awards (and the afterparty), Gen Z, and whether Speaker of the House Gerry Brownlee is "too grouchy".&nbsp;
LISTEN ABOVE

Wrapping the Week: Kerre Woodham and Tim Wilson talk Radio and Podcast Awards, Gen Z, Gerry Brownlee

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/a6490a7d-2e8d-4a98-8a1b-b45f016b4b15/transcript

The Super Rugby Pacific playoffs have arrived.  

Christchurch is a sellout, with tickets going in twenty minutes for the Crusaders v Blues clash at One NZ Stadium at Te Kaha.  

Four Kiwi sides make up the top six —the Hurricanes, the Blues, Crusaders, and Chiefs— with officials deciding to stick with the controversial “lucky loser” format.  

Super Rugby Pacific CEO Jack Mesley told Heather du Plessis-Allan that while some might see the outcome of the finals as predictable, he doesn’t think that’s the case. 

He says last year saw the 6th placed Blues knock off the 1st placed Chiefs in the qualifying final, and they went within a whisker of beating the Crusaders in the semi-final, so he’s not sure it’s quite as done and dusted as some people might be commenting. 

LISTEN ABOVE 

The Super Rugby Pacific playoffs have arrived. &nbsp;
Christchurch is a sellout, with tickets going in twenty minutes for the Crusaders v Blues clash at One NZ Stadium at Te Kaha. &nbsp;
Four Kiwi sides make up the top six —the Hurricanes, the Blues, Crusaders, and Chiefs— with officials deciding to stick with the controversial “lucky loser” format. &nbsp;
Super Rugby Pacific CEO Jack Mesley told Heather du Plessis-Allan that while some might see the outcome of the finals as predictable, he doesn’t think that’s the case.&nbsp;
He says last year saw the 6th placed Blues knock off the 1st placed Chiefs in the qualifying final, and they went within a whisker of beating the Crusaders in the semi-final, so he’s not sure it’s quite as done and dusted as some people might be commenting.&nbsp;
LISTEN ABOVE&nbsp;

Jack Mesley: Super Rugby Pacific CEO on the playoffs starting this weekend

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/d033e98f-bd96-45b2-a412-b45f01687ffe/transcript

Ed McKnight: Economist at Opes Partners on the number of first-home buyers turning to their parents for financial assistance

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