I talked about this on air last week and didn’t think much more of it. Then yesterday, a chap from an opposition radio station said he heard me talking about it and that it was a really good point so I might as well share it here too.
He said, “Houses are still affordable, the problem is that the majority of people have got their priorities all wrong, buying flash wheels for their cars and spending large on their credit cards.”
He was also talking about HPs, flat screen tellys, eating out and the like and I reckon he could be onto something.
“Passing the blame on house prices and high interest rates is totally unproductive. Instead study your bank statement and you will discover who is to blame.” He went on to say, “Think about all those consolidation loans and takeaways and Sky TV and cellphones, et al. The I want and I can borrow attitude of kiwis is the problem.”
This guy is nearly ten years younger than me and he has it way more together than I did at his age.
He’ll do well.