Luke Kemeys

We're innovative as a country, that number eight wire type mentality.

Where did that go?

Yeah.

Simon, I sort of said the other day that there's 200 Kiwis leaving a day for brighter futures overseas.

And like, I don't know about you guys, but every time I talk to somebody and they go, I'm moving overseas, I'm like, I get it.

But also like...

Not another one?

The property thing is interesting because part of me is New Zealand's success historically wasn't just kind of a bit of luck.

Incomes were low.

Asset values were low.

Therefore, we could push these things to a certain point without having to have –

potentially being too complicated to get ahead.

But now when you look at aging business owners, somebody's going to have to buy these businesses eventually.

These properties, somebody's going to have to buy them eventually.

And there's generations coming through.

Our incomes are not keeping up with the rest of the world to be able to afford these assets into the future.

Do you think like our historical...

car but they're actually not supposed to be driving that car but how can we get them out because that's a big risk uh in itself as well and they can't get out now because some of them have got negative equity from buying a house a few years ago yeah it's not like they can even just like get to a net neutral position the that's a really interesting point is the percentage of kiwi's incomes going towards their mortgage and going i can't take that punt because i got bills to pay

yeah my sister is in brisbane and uh she listens to the podcast uh and she um goes to me she's like weird concept that like people are worried about their retirement she goes like i've never thought about my retirement i've since i was 18 i've been contributing um to my like super and i've got more than enough money and yeah you're right it would fundamentally change how you think about taking risk because if i'm going to take a risk i'm going

Can I pay my mortgage?