The Mike Hosking Breakfast

Cotality's Housing Affordability numbers paint what even a sceptic would have to agree is a pretty good picture of our housing market.
Especially for first timers and when you compare us to Australia.
Australia's market is a mess, and one of the biggest messes within the mess is the result of their Labor Government changing tax deductibility around landlords and expenses.
Labour here did it and it had a similar result.
Under our current Government they restored deductibility and the proof is there for all to see.
Investors are part of the market. The first-time buyer is in clover, and rents are flat as a pancake.
For landlords and some others who want capital return in double digits, this won't be the greatest of news.
But many have argued for years that housing needs to be more affordable and the Cotality numbers show now it is 7.2 times the average wage versus as high as 10 times a few years back.
The lesson, if Labour here wants to learn it, is investors aren't crooks. They're not nasty people looking to enslave tenants. They're businesspeople who simply want a fair shake.
In Australia the market is in free fall, investors have fled, applications for mortgage money have tanked, and the value of houses is falling as the auction clearance rate each weekend craters.
In a single move in this year's Budget, Albanese and Chalmers have managed to upend what for most Australians is their dream.
And that is the other part of our story and Cotality's numbers – the first home buyer has never been a bigger part of the market.
Why is that? Because despite all the energy put into trying to convince people otherwise, we have a love affair with real estate.
Even though the youth of today are a world away from what we used to be in terms of lifestyle and attitude and world view, what hasn’t changed is the desire to own your own home. Your castle.
So in New Zealand we are stable, predictable, and more affordable.
In Australia they're collapsing, panicking, and chaotic.
That’s a story for us to be proud of.
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The UK's new Prime Minister has pledged to end rough sleeping by Christmas.
Emergency accommodation will be provided for the winter, alongside practical support for health needs, as part of a £442m package.
Andy Burnham says they did it during the Covid pandemic, so they can do it again.
UK Correspondent Enda Brady told Mike Hosking critics' response to Burnham's 'everyone in for Christmas' message is it means everyone will be out by January.
He says it's an ambitious statement from the Prime Minister.
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Formula 1 is back and its popularity among Kiwis is continuing to grow.
After a mini break, the final Dutch Grand Prix is kicking off this weekend at Zandvoort, with Liam Lawson back in the seat for Red Bulls.
But a little later in the year, F1 is coming to New Zealand's shores – in a sense.
Former F1 World Champion Damon Hill and long-time commentator and host of the official F1 podcast Tom Clarkson are visiting Australia and New Zealand for a speaking tour.
Clarkson has presented F1: Beyond The Grid since its inception in 2018 —437 episodes— and has personally reported or commentated on over 500 Grands Prix.
He joined Mike Hosking to discuss the current season of Formula 1 and touch on what you can expect from the live show.
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A chance for Liam Lawson to secure his Formula 1 future.
The Racing Bulls driver is yet to sign beyond this season but has been promoted to the Red Bull team for this weekend's Dutch Grand Prix.
Lawson replaces Isack Hadjar, who's injured his wrist.
F1 Journalist Chris Medland told Mike Hosking this is the best chance Lawson has to state his case for a future Red Bull seat.
He says without this sort of opportunity, it would've been very tough for him to prove that point.
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Economic resilience is coming through from the regions, but people are still finding it hard to get a job.
Infometrics' new report finds all 16 regional economies saw growth in the three months to June.
Overall economic activity lifted 2.6% over the quarter.
Infometrics Principal Economist Brad Olsen told Mike Hosking there is some employment growth across the South Island and a few areas in the North.
However, Auckland's recovering slowly, and its unemployment rate of over 6% is contributing to the downbeat view.
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