Kerre Woodham: Do young people still see homeownership as a goal?
About this episode
Kerre Woodham discusses the changing perceptions of homeownership among young people and the potential impact of low deposit mortgages.
Back in the day, when I first got this job, I was desperate to buy a house. All of a sudden I was earning enough to pay a mortgage, but after years of living on a waitress's wages and being a single mum, I didn't have the deposit. I would now be able to start saving for one, there was a bit left over after expenses, which was a new and wonderful feeling. But it seemed such a swizz to be paying more than a mortgage in rent every week when that could be going towards a house and security for my daughter and me. I was very lucky then that my partner, later husband, now ex husband, had a rental unit in the South Island that could be used as security for us to move into a cottage in Grey Lynn. He had the security, I had the wage, it was a beautiful thing until it wasn't. Um, nobody wanted to live in Grey Lynn at the time, wasn't at all fashionable. And although I thought it was a palace, our home was described in a story I did with a magazine as shabby. But we loved it, absolutely loved it, and it was our home for 20 years, which, to make a short story very long, is why I think it's a jolly good idea from National to increase first home buyers' access to low deposit mortgages if they…
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