It's now cheaper to rent a home in New Zealand than to buy - at least in the short-term.
BNZ has revealed servicing a mortgage takes about 50 percent of the average household income.
Chief economist Mike Jones says that's more than double the cost of renting, at about 24 percent.
But he says that doesn't mean renting is the most cost-effective over the long-haul - because no one knows what house prices will do.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
The Breakfast Club
The World's Most Dangerous Morning Show, The Breakfast Club, With DJ Envy, Jess Hilarious, And Charlamagne Tha God!