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. See omnystudio.com/listener for privacy information.

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.  LISTEN ABOVE  See omnystudio.com/listener for privacy information.

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.   LISTEN ABOVE  See omnystudio.com/listener for privacy information.

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.  LISTEN ABOVE  See omnystudio.com/listener for privacy information.

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.  LISTEN ABOVE  See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Thursday 20th of August, Tauranga Mayor Mahé Drysdale speaks on the damning review that found the deaths caused by the Mount Maunganui landslide were preventable.   Good news for NZ Inc, as data reveals strong economic growth in every region for Q2.  Huge news for Liam Lawson as he's confirmed to be in the driver's seat for Red Bull this weekend, and possibly more, after Isack Hadjar fractured his wrist.  Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.  LISTEN ABOVE  See omnystudio.com/listener for privacy information.

Global fuel prices have been rising again as conflict continues in the Strait of Hormuz.  The US has now exported much of its diesel supplies – pushing up prices across the US and Europe.  Crude oil prices haven't risen as much due to China's decision to stop exporting refined fuel, but Brent crude prices are rising again after the US and Iran ruled out extending their memorandum of understanding.  Westpac Chief Economist Kelly Eckhold told Mike Hosking ultimately, there isn't enough fuel coming out of the Middle East.  He says the prices of most fuels are increasing, including jet fuel, and petrol to a lesser extent.  LISTEN ABOVE  See omnystudio.com/listener for privacy information.

An assurance the Government's new watchdog for council zoning will have teeth.  The role of independent Urban Land Market Officer will be introduced under the new Planning Bill, which will replace the Resource Management Act.  They'll determine whether urban land markets are competitive, report on land market performance, and advise actions to increase competitiveness.  Parliamentary Under-Secretary for RMA Reform Simon Court told Mike Hosking the officer will look at what is actually happening in the market, not just spreadsheets.  He says if councils are materially affecting the price of land, the officer can register their concerns, and the council must respond.  LISTEN ABOVE  See omnystudio.com/listener for privacy information.

Tauranga's Mayor is pledging to ensure any warnings sent to the council around risk to life are escalated.  A council commissioned review into the deadly January Mount Maunganui landslide has found the six deaths were preventable, given the decades of warnings.   Mayor Mahé Drysdale told Mike Hosking his council will look at making sure these kinds of reports are actioned.  He says there are risks across the city, and while they manage most of them well, this one wasn't.  LISTEN ABOVE  See omnystudio.com/listener for privacy information.

The Associate Environment Minister says they've cut out the 'waffle' in Freshwater Farm Planning.   An amendment paper to the Natural Environment Bill will ensure that certification will only be required on parts of farms where higher environmental risk activity occurs.  It also does away with some mapping requirements, and re-certification will be required every six years instead of five.   Andrew Hoggard told Mike Hosking he used himself as a guinea pig, trying to make a plan himself.  He says the attached context contained 15 pages of waffle, which didn't tell him the problem that needed solving in his river.  LISTEN ABOVE  See omnystudio.com/listener for privacy information.