Cost of living crisis: family moves to a shipping container | 60 Minutes Australia
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- เผยแพร่เมื่อ 2 ก.ย. 2023
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The belt-tightening endured by the majority of Australians over the past year has caused enormous hardship. Finally though, last Wednesday, there was a glimmer of hope when the latest inflation number turned out to be lower than expected. It means there’s less chance on Tuesday that outgoing Reserve Bank governor Philip Lowe’s parting gift to the country will be a thirteenth interest rate rise.
It’s a small mercy for many, but for other cash-strapped mortgage holders and renters it’s already too late. And also adding to their economic misery, Tara Brown reports that financial experts are now saying much of this cost-of-living pain could and should have been avoided.
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For over forty years, 60 Minutes have been telling Australians the world’s greatest stories. Tales that changed history, our nation and our lives. Reporters Liz Hayes, Tom Steinfort, Tara Brown, Nick McKenzie and Amelia Adams look past the headlines because there is always a bigger picture. Sundays are for 60 Minutes.
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Prices are too high. With rates not subsidised in ’24 and mortgage still high , currently seeking alternatives to maximize savings without an RV move or taking a loan. I’m seriously contemplating the latter.
Affording our mortgage is tough as well. I have suggested cashing in, renting or relocating, and investing the rest in the stock market.
If you can afford to relocate, you should manage the mortgage.
if you are looking to invest in the stock market, I suggest you Consider a fiduciary with mortgage-backed securities knowledge for guidance. Prices today may look like dips tomorrow.
Thats true, working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
this is all new to me, where do I find a fiduciary, can you recommend any?
Well done to the Australian government for allowing this to happen 👏 absolutely disgusting!!
Allowing? Facilitating. Creating. Those who benefit from crisis will create a crisis.
@BenjaminSmith67 exactly my point. They've created it.
all planned.
@@TheHealthLife 💯 %
Punishment for liquidating the Aborigines?
This is outrageous!!! Working full time and can’t to live. What have we come to????
Literally working our lives away. 😏
It's called turbo capitalism! We in eastern Europe still live to 90% in mortgage-free owned properties and have 2 more houses in the countryside plus an appartment at the sea side which is rented and pays back its loan. On top of that, we spend 25 days on holiday, going to Greece, Spain, Portugal, or staying at home. Many Brits who realized that came to Eastern Europe, not to Australia. Good luck there
This is crazy I thought we had it bad here in the us with the housing issue but it’s the entire world 😳
I commend that family for their attempt to become more independent with their home building and going off grid. I think it is something we have all lost over the past couple of generations when our great grandparents did that kind of thing. Even with the cab driver saying he was thinking of moving back in with his parents - not so long ago multigenerational living was the norm. I admit to being equally guilty of feeling I need 5 rooms to myself and all my stuff and I need to look at a change
Absolutely. feed yourself with a garden and some chooks if nothing else. Don't rely on anyone.
people should go find some old grass roots and earth garden magazines , going off grid is not something devastating , becoming independant and not a slave is a great thing !
I hope this family turn those containers into a wonderful home and have a huge garden one day, and come out on the other side!!! They can do it!!!
Hopefully.
Or just build massive shed fit it out and put those containers under ground pump out hydroponics happy days
So much easier that a society
Tearing out the cedars
And returning to sound doctrine and morality !!
@@L9MN4sTCUk
Mold will infect
Every single item they own
Then it will attack the sleepy dreamers
Who will cough their heads off
While the filthy cupholders
Pass the sippy
@@L9MN4sTCUk @ agree, and QLD very hot on summer
Don't worry, you will make it and family is important. We went off the grid in south Africa twelve years ago and haven't looked back. Your children will learn from this and you will find that you have many more skills than what you imagined, it's time to grow❤
Great advice. I really hope you say this to a lot of people who happen to be in this situation. I'm South African too
They will make it fine. It is just these days in limbo until the house sells. They are clearly strong or they wouldn't have come this far. The pressure will drop and they will be thinking about compost quality in no time. I wish them all the best.
Africa is CRAP!!
Off the grid but on TH-cam
You can go off the grid in Australia IF, the concuil let you, mind you they sting you for fees just becuase it goes past..
This is exactly what is happening in our Canada too. Peoples mortgage payments have doubled and are still going up because of increasing interest rates! 😡🤬There is now no hope of anyone buying a house especially young people.
Is there no fixed interest rates on houses there
@catherinebenton3637 5 year fixed is most common but shorter terms are gaining popularity in Canada.
That gentleman and his daughter should be applauded for getting ahead of the problem and being pro-active in looking for a solution to their situation before it gets worse. I hope it works out for them and wish them well.
Wishing them all the best. I hope they check in with them
You could live in a Rv for cheap ….but the government doesn’t like that. Neither do realtors, homebuilders, banks, Wall Street, home owners, investors, Home Depot, insurance companies, and a whole lot of other groups who have a strong interest in home prices going up constantly.
F#$K em, hope more people do it to show them
No money in it for the pig government
They could build "Tiny Houses" which would be totally affordable, but they don't want to because the Government couldn't care less about the homeless or the poor.
This economic crisis has hit the world hard. In South Africa we have all of the above and an added burden of most of our state owned companies failing due to mismanagement and corruption. A Very very beautiful, but sad country indeed.
The only ones who benefit from privatisation are shareholders and CEOs. Everyone else just suffers the consequences.
Ya corruption really sucks. Very sorry that your lives are screwed up by this. I'm in Canada & feel very fortunate,
And people lie down and take the crap literally whilst they are being screwed over, and the vultures and on purpose crooks take the whole business to serve themselves and the few. That is more than corruption in my book. That is treason and fraud.
@@michellamontagne6092" in Canada and feeling very fortunate" it's crazy man, there are comments right here from people in Canada saying they're having it hard, and I am in South Africa and not having it hard really. Built a house on bought land, and cruising nicely...
Interest rates are not the problem ; it’s housing prices caused by mass migration especially the ones named on that shipping container
How come most people can see this except the politicians? If you let in 200,000 people a year but only build 50,000 houses, it doesn't take a genius to realise that locals are going to struggle to buy a house.
You only have see the rioting in Texas or NYC or any where the bus loads of illegal migrants goes.
Sadly their better life isn’t exactly the American dream either .
These Elites have a lot to answer for!
1997 Hong Kong was transferred to China, they (from HK) started coming to Australia,New Zealand,Canada,USA buying up city part of the country thats where the house/apartments prices skyrocketed.
Inflation is caused mostly by central banks printing too much money and yes immigration helps the banks too and we just get to lump both. By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens. John Maynard Keynes
Just get some balls and say it : Chinese immigrants!
the recession we had to have in the nineties ran my family into the ground. Our interest rates went from 12% to 17%. My ex, a carpenter by trade, was working 7 days a week to try and maintain the mortgage. He broke down and I supported us for a while. We divorced and he has been on benefits ever since and now lives in a housing trust. I went on the single mothers pension for a good while. There were ramifications that reached through our extended family as well. If this happens with enough families I am sure there are detrimental effects to the social fabric of society also. How does hurting families, breaking hearts and breaking people's confidence help the country in the long run? It helps some people I am sure, who take advantage like vultures, but not working poor families who simply want to work hard, have a simple home and a family. I wonder though, is this despicable treatment of lower to middle class families by accident or design?
By design 😢
💯% by design
AGENDA 21. People live beyond their means and huge debt burden.
@@carlywright5127 keeping a roof over my head, put food on the table?
It’s by design. You will own nothing and you will like it. That is the feeling of the governmental elites. Google that statement and start doing some research it’s sad.
They haven’t given up and are working hard to figure it out. I sure do hope they are back together soon! Hang in there fam - I’m sending positive thoughts out to you guys!!! 💛💛💛
I'm working and living in a tent at the moment so I can understand where this fam is coming from
Everyone in this family is in on this, so I have very little doubt they will get through this.
I have been living in my car for over 12 months now and work full time. The property I was renting out got sold so I got evicted with no where to go. I only have a small car a lancer and I freeze all night and my body aches as I sleep in the driver’s seat.
I’m so sorry to hear this. Would you ever consider renting (or better yet renting to buy) a tiny home? And if so is there any way you can work remotely? I do hope things get better for you asap. Hang in there, you’ve already come so far ❤️
I feel you. My husband and I chose to give up our rental to move in with my Mom and grandparents to help care for them right before the pandemic. I worked full-time. Then I was laid off. The pandemic hit. My Mom died (cancer). A few months later my grandfather died from complications of age (95) and pneumonia. My grandmother had to sell her home.and move in with family, leaving my husband and I to try find something when it was impossible. She bought us a used 5th wheel camper that we parked in my brother's driveway as a temporary home until we found something. A few months later, my husband developed lung clots an died. I was a full-time student, changing careers, and a widow under 50... he had no lofe insurance so I was left with nothing. I've since graduated and obtained a great full-time job as a manager of a law firm and paralegal. I'm still living in that camper 2 years later because I can't find anything in my budget. I hate it. It has no insulation.
The irony is my law firm handles evictions for landlords and almost all of them are evicting because they are taking the properties off the market and selling or moving family in. Many of these landlords are hurting, too, and are selling because they have to. More and more losing their homes through no fault of their own and dwindling affordable inventory. It's disheartening for sure.
You are a very strong person. Every tomorrow comes with new possibilities. Just one day may change everything. I hear you, please stay strong.
@InternetJury your grand mother is greedy as fuck
She sold her fully owned house instead of swallowing her pride and saying hey I'm almost gone on earth. Come help pay the house insurance and property taxes this is yours In a few years
Instead she spent half a million dollars from her house on bullshit and didn't even h3lp you guyw
Sounds like America 😢 so sorry 😞
Some group of economists have projected that both the U.S and parts of Europe could slip into a recession for a portion of 2023. A global recession, define as a contraction in annual global per capita income, is more rare because china and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth.
My major concern now is how can we generate more revenue during quantitative times? I can’t afford to see all my savings crumble to dust.
That’s why I always make it a point to speak with a financial advisor before choosing any investments. Apparently , I’ve been using one since the pandemic, using profits oriented tactics and minimizing risks as a buffer against inevitable downtrends.
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Gregory Thomas Patchak's strategy has been helping a lot of traders/ holders out there, with his program I was able to recover my losses from the crash so swiftly...
This is terrifying it’s hitting everyone everywhere. Working your butts off, I pray everyone gets through this, the struggle is real OMG interest rates raising. Take care everyone
Even when the interest rates were lower..
The only thing that is good for the real poor is that they always being poor, never own a house or a car. Or maybe an old car. Many in other countries already are living in shacks, with exposure to garbage everywhere and duty water. Now, it is heart breaking to see it the dreams of the ones that were making, and the one that most likely have the most opportunity to make it, being broken to their core. Some of them will never recover, but many will. Humans can be very resilient.
Per capita recession-it hurts-government is shit!
This is so unfortunate, but this is a sign to wake up and stop dying in front of the TV, phone etc and get out and stop the people who put policy in place that hurt common people. They have sedated us.
I know right? I just love how the producers of this show & the more importantly the central banks (of the world) and the governments love to redirect the blame of all this inflation on covid, Brexit & supply. When everyone (who has been paying attention, knows cause of inflation is money printing and zero percent interest rates - all the damage the economies and families are feeling now has been caused by central bank policy for the last decade. Period.
Covid is to blame..
@@joelc9439I agree, the pandemic has fucked up our livelihoods worldwide
@@LilRed90skid and there are so many idiots out there who still say that Covid is not real.
@@joelc9439 either that or they believe that it has a “high survival right” people are just as stupid as they were in the stone ages lol
Its horrendous here in uk...every time i pop to shops every day items such as bread milk every day necessities go up in price its ridiculous. I frequently have to go without food, electric etc
Exactly the same in Ireland and Uk,raising interest rates will not cut inflation in commodities and energy.
It's moronic or evil.
Grow your own
@@BulltardwinThat's what I do here in the Caribbean.
There are just too big of a population in the world. Where should they go???
@anthonyberry9132
EVIL
We return back to Malaysia in May 2021 after migrating to Melbourne in 2016, after selling our house of 4 years with huge profits, we sold our used cars and surprisingly so many buyers wanting used cars that we sold it same price after using for 5 years. We were so lucky because the interest rate rose just after we sold the house at a very high price. This whole thing gave us a lesson, with all the money we bought a new house in Malaysia and paid 50% downpayment. Life in Australia was always hard since we stepped foot. We managed to buy a house in the first place because we sold our house prior to migration. We regret migrating to oz. Now life is good, just with one income in a developing south east asian country we could travel the world annually, to Swiss, Germany, Japan, etc
Ur talking about traveling here and some people can't even afford food. What is wrong with u?
@@Bebedollie Thinks She’s pointing out that these immigrants (UK) like them (Singapore) went to what they perceived as greener pastures .
The alluring prosperity of Australia , rich in minerals, resources, Gold , Diamonds, coal ,Education, healthcare , weather, land of plenty .
Left them struggling more than the were back home , so they sold up and left …Opposed to getting to the point of living in a container, car ,tent or on the street. Going back was there ideal, but enough to trade up to luxuries like travelling .
If most people were more self aware they’d pull back a lot sooner , than getting to the point of nothing or bankruptcy .
The real struggle in Australia is when you only have one income and you don't earn enough to be granted a mortgage. The rental prices just keep going up like the mortgagesl. I've had an increase of $120 weekly within 12 months which is the biggest increase I've ever had in that time. They now refuse to do leases longer than 6 months and that's so they keep putting up the rent by $40weeky or more every 6 months. The cost of living in general is a lot more than it used to be. I was saving from my income, but now getting to the point where I can no longer do that. This couple in this vid are doing well compared to others. Not many here would own a house and a another property as well. They have a big shed on that property plus their shipping containers.
That’s right. I am sad for them, but they have a place to go. Even though it is very uncomfortable.
Same here in the Netherlands
There living like kings compared to the rest of us , jail is the only option for some people I know
we lived in cow bales as young families in Northern NSW back in the nineties . We were grateful to get a place to live
My mate got a $250k mortgage and his sole income is centerlink. Leave NSW/Vic and problems solved
This investigative report on the cost of living crisis was completely inadequate 👎. As it failed to address the urgent and distressing consequences of high living costs, such as people's struggles for survival, home loss, homelessness, financial ruin, and the tragic increase in suicides. The story missed the mark and failed to tackle the more critical issues affecting many individuals and families.
For instance, the report could have delved into the stories of people who are unemployed, struggling to make ends meet, and facing the grim prospect of homelessness. It could have highlighted the heartbreaking experiences of individuals who recently lost their homes due to financial difficulties, shedding light on the devastating consequences of the cost of living and rising interest rates. Additionally, the story could have brought attention to the plight of vulnerable populations, such as senior citizens who rely on pensions and are barely able to cover their rental expenses, despite a lifetime of hard work and savings.
Furthermore, the report could have shared the story of a single mother desperately trying to feed her family while grappling with the ever increasing cost of groceries and basic necessities. These real life examples would have provided a much needed perspective on the human suffering caused by the high cost of living.
Agree but better than what we get in uk. They re happy if you kill yourself as then govt dont pay anymore!rent is not payabke on pension at all .. 1 room is 750 upwards before anything else. There is no cheap anymore here even in N England rent is cheaper because no employment to cover
All true but that would be an 80 hour program 😢
That is by design. This show is capitalist propaganda. Who owns this show? The same people behind the problem.
It's so unfair that people are now living like this. Life shouldn't be this hard in Australia in 2023.
...and in London. And in San Francisco. And in New York.
Heartbreaking to watch this.
Not just Australia, sadly.
Not anywhere....it's getting ridiculous nowadays with living costs.
It’s unfair that humans cause this for other humans and all, there, fixed it for ya
"People living on the street, they can't survive". That's the plan.
overwhelming majority of australians are employed and doing ok, unemployment is at record lows
I've often wondered that this is what the world is coming to. The post-WWII economy was rather unusual in human history. Human history has been made up of the rich and the poor, with a very few of the "middling sorts". I think we're heading back towards that and have been so for decades. There's a reason why solid, middle class jobs were sent to other countries or simply dissolved.
YES.A World alone.😢
I live in a big home in Ontario, Canada mortgage free but the container home is secretly a dream of mine! Being of grid and with 3 containers you can make a decent house of it! Follow the “tiny house” community and you will be surprised how many live in a shipping container! God Bless this family and give them strength to carry out their plans in the future….🙏🏼🍀👋🏼🇨🇦
I am 65 years old and live with my 83 year old mother in NJ, USA because we can’t afford to live on our own. My 2 granddaughters also live with us and food prices are killing us!
So sorry. I can empathize. I’m in California. ‘Nuff said 😢
Hi kathyotoole. Hang in there. You and your family living together will make it. You will. Make sure you have a plan B for when your mom passes away (I wish her a long life though). All the best courageous lady 😊.
@@rustykatt3870 Thank you. Honestly, the thought of losing my mother is terrifying. Without her income, we will quickly be homeless.
@@kathyotoole4608get yourself funeral insurance ASAP
Granddaughters?? So in other words you mean four generations.
Here in the U.S., a current average 30-year fixed mortgage interest rate is 7.53%.
I just sold my home and realized that my mortgage, tax, insurance, HOA combined was $1375/month at my 3.2% interest rate.
My buyers will have to pay out $3900/month for that same property.
It broke my heart. 😔
Unfortunately in Australia you can only get 4 - 5 years max fixed 😢 that's why it's so bad for everyone on fixed rates coming off who locked in 2020
Breaks your heart but you had no problem selling
Same thing happening here in vancouver. I know many people who have had mortgages jump by $1000. Add in daycare at $1300 (if your lucky) and it is extremely stressful.
Ty for telling the truth. This is happening in America too. We are being bought out and priced out by companies and nobody is without a very high income can afford a shack let alone a home
We will be doing the same soon. Our family friend landlord needs to sell the house we rent in Melbourne, and developers will knock down the run down house and replace it with units. We are a family of four, with one on disability, one on old age pension, one on carers to care for them, and only one working for an employer. I know that we won’t find another rental, as why would a landlord choose us, when people on high incomes, cannot even get approved. Finding one we could afford is also impossible now. So our only option will be to camp out on my friends rural property. Hopefully we can find a container to live in, or some kind of shed, rather than tents. Not ideal conditions for an 80 year old and a young cancer patient on palliative care…but we have no choice. My husband will be forced to leave his job and try and find a job near the rural property. We lost our home 15 years ago, due to our young son getting cancer, and me having to stop working to care for him. We couldn’t afford the mortgage on one income, and we only had our home for 2 years before tragedy hit, so we had no equity yet. Accepting the fact that we will never own a home was bad enough, and renting forever, but now we can’t even rent anymore! Hardly any rentals to rent, landlords putting rent up to unaffordable prices, people offering 6 months rent in advance to get approved, 20 year government housing wait lists…Australia sure is not the lucky country anymore. Sometimes we have no control of our circumstances, especially when severe medical conditions occur. We worked very hard all our lives, paid our taxes, did everything your supposed to and never imagined being homeless like this, especially in our 50s 😢
Butterfly u should work hard n praying for good wishe u all d best
Melbourne, there's your problem
They could build "Tiny Houses" which would be totally affordable, but they don't want to because the Government couldn't care less about the homeless or the poor.
Pray fue you. God is the only hope for you and family.
The hardest part about the housing crisis, beyond not having a roof is being torn apart from your family members. Sadly this is the silent pain a lot of us suffer who were forced to move far from family and the communities we loved.
Move in with them? Most countries have 4 generations under 1 roof. You are obsessed with 1st world agendas
The only people suffering are the average folk.
Banks, supermarkets and large companies are hitting record profits
Unfortunately these people went in over their heads. It seems their struggle relates to the fact that they have too much debt (two properties). They are not typical of families facing a housing crisis.
A house and a block of land - they could rent the house out surely if they can't sell it at the moment, maybe not, I'm not sure of how many people are looking can afford to rent in Bundaberg. But yes, why would you buy another property when you hadn't paid off the first one - ok, this was their dream to live off-grid, and a wonderful one, I'd do it in a flash but I would NEVER in a flash have 2 mortgages at the same time, it would always concern me about the fickle economy and rate rises as my first mortgage was in the 90s so i know how high they can go - unless of course they paid cash for the land which used up any savings. Very sad but for me too high a risk to buy 2 properties with mortgages, no matter how cheap - it only takes one of you to lose your job or get sick and then you are really scuppered, and it can happen to anyone
The couple with the four bedroom and pool probably bought and financed a home they could not afford and now that interest rates have went up it's unlikely they will sell
I'm in Canada, Hamilton Ontario, and 8ts bad here. Unfortunately I was injured at work and am now on disability. And disability pays $1200.00 per month. In Hamilton the average cost of rent for a 1 bedroom apartment is $1600.00 per month, a bachelor apt, $1000.00 per month. In downtown Hamilton there are brand new condos being built on every other corner. But nothing low-income individuals or families can afford. In almost every park in Hamilton you'll see 2 to 10 tents setup, that's where the low-income people live nowadays. It is very sad that in 2023 this is how people are forced to live. I'm in my early fifties I worked since I was 13, 10 years ago I was injured and I have no longer capable of working, but now because of our economic situation I'm going to be forced to live in a tent. Not just me but thousands of others.......
Hi Joe. I'm sorry you are going through this. You may have already done so, but please try looking into connecting you with social agencies which can give you free food, clothes, reductions in utilities, etc.
We cut our cable tv 20 - 25 years ago because it went up to $25/month. When we had to go to a phone company to replace a broken phone, the sales guy promised us a free big screen tv and could not believe we turned it down. He could not believe that don't want cable. We have internet. TV networks have their shows on their websites. The public library has free movies and free courses. Enough for sure.
I have learned to love instant coffee and my old thermoses.
Anyways, Joe good luck to you 👍 and to us all!
@@rustykatt3870I live in Toronto and I feel the pain. I live in a room in a two bedroom condo with a couple and their toddler living in the master bedroom. I pay $1100 CAD a month, and for Toronto, that is considered cheap. The system is broken, I blame all levels of governments for not investing in affordable housing for four decades. If they had, the housing crisis in Canada wouldn't exist. I suspect this is also the case in a lot of countries around the world.
Not only that, but our health care system in Canada has gone down the tubes! A lot of rural hospitals have closed their doors along with E.R.s. they say A lack of doctors and nurses. What has happened to Canada's government health care spending? I haven't seen it make any difference!!!
@@rustykatt3870
❤❤❤❤❤ very Good. Me too noT TV😅
there is nothing shameful, his effort is very commendable
Atleast they have property, most people don't have that luxury
Net immigration needs to be turned to zero, immediately.
All the talk is about a lack of supply, turning off immigration and outlawing foreign ownership until every Australian family is comfortably and affordably housed would be an instant and easy win with regard to reducing the demand on Australian housing and infrastructure.
Amen to that. The government is deliberate in the high immigration levels (highest on record by a huge margin). The reason: To suppress wages and push housing prices.
How about finding real solutions instead of scapegoating black and brown immigrants, because we all know you aren't referring to "white" immigrants?
@@williamcrossan9333 yep, and keep gpd heading north (avoid recession) at any cost.
I agree but the bankers need more people to take out more loans. You have to think of the poor bankers.
Does Australia have enough construction workers to build the housing that is needed? If not, it will need more immigrants.
The entire world is in crisis. In the US the interest rate is currently 5.5%.
Wow! I honestly didn't know that Australians are struggling as much as we are in the uk
And the USA, Canada. Soon it will be an epidemic, a big one.
We're not. There are still homes in regional towns for £150,000 and lots of jobs available in those towns with £20,000+ incomes. I personally wouldn't place myself within a bush setting down a long dusty dirt track in an oven at risk of bush fires baking me. These guys need local mentors - not the avoidance of a mortgage trap within a high demand retirement coastal town where all the Southerners are moving to.
In Victoria, they would be evicted from their land because the shed doesnt have a Certificate of Occupancy. Its happening all over Mornington Penninsula where tiny homes / sheds are being told to be demolished because council has determined that only 1 dwelling is allowed on land (even 30 hectares)
The Smart State. Smart cities.
We have fixed rate mortgages as standard in the US. That’s how it should be everywhere.
😂😂 of course, but people still living in the streets
Yes I had a fixed rate mortgage but had the option of a flexible one stating at a lower interest rate. Take the fixed rate as I what I would be paying for the next 15 years. (Had choice of 15 or 30 year mortgage).
The unfortunate reality is most people don't understand how macro and micro economics truly work. Inflation, stagnation, hyperinflation etc, are realities. Far too many people are sedated. It's time to realize you cannot carry huge debts without consequences. Governments need a complete overhaul, and citizens need to take back what's truly ours.
There are people with no debt who are struggling.
@@nohandle62 There's the excuse some would argue. Everyone is indebted one way or another. Your attempt to oversimplify the complexity of the stated subject matter reaffirms the sedation you must wake up from.
They don't teach those in schools. They don't want people to know where money comes from. Debt drives the economy. They don't teach taxation in schools too.
Australians just need to work hard as the developing countries, Australia's productivity is too low but wage is too high, it creates imbalance
An overhaul of the Government will do absolutely nothing if we still have a privatised central bank. That is the head of the beast which needs to be removed.
They have a house and a block of land ?? Selling the house but will have somewhere to live freehold . That's not doing it hard
Hang in there Paul. I wish the Taylor family the best. Things are getting tougher here in the US also. Nothing wrong with living off the grid. Wishing the best of luck mate.
I know of this man, his family are neighbours, it was always a dream of his to live off-grid. He is not being honest it is infuriating how he is portraying his financial situation when he has tonnes of equity in that home but won't sell it below market value, he has had multiple offers within 30k AUS/$
Nothing wrong with shipping container homes. They are bug proof, strong construction,etc. These containers make good homes if you want to configure tthem properly, paint & decorate them nicely. I feel for the family. Do what you got to do.
Shipping containers are terrible for living in. They are not the solution. Just search "why shipping container homes are bad" on here and watch a few of the videos. All the proof is there.
I have a friend that made a home out of them and it is very nice .
This. Honestly if I could have a shipping container home for one quarter the price of a regular home, I'd go for it. House building companies artificially keep the prices of homes high. It's a cartel. Build more high-rise apartments like in Asia. People need homes.
Race to the bottom right?
Same thing is happening to us in America. So many more homeless every single year. This is all by design.
My rental last year went up 18% to $400 a week for a single guy… it’s too much.
It’s only gonna get worse😔
Australia is richer than it's ever been yet has never seen more people worse off, the obvious question is, who's benefitting?
THe Bank
china
It's just as BAD ,here in Ontario Canada 🇨🇦!! We had to renew our Mortgage this Year & the Change in payments is a Nightmare!! Our Children 32&29 can't afford to Buy a home!!! They can barely afford rent!!! We have a Terrible Liberal Government (Trudeau) & Friends!! They've ruined our Canadian Economy!! 🇨🇦.
In New Zealand The four big banks - BNZ, ASB, ANZ and Westpac - declared combined after-tax profits of $6 billion in the last financial year. All are Australian-owned. Current interest rates 7.25% p.a. 1 year - special*
7.85% p.a. 1 year
6.95% p.a. 18 months - special*
7.55% p.a. 18 months
Same as in Australia right now
that family living in shipping containers had a house with an in-door pool, every gadget imaginable, the dad is covered in tattoos, the mother slathered in make-up, both have died hair and new clothes... they aren't struggling with cost of living, they are struggling to live within their means. Years of not living under a realistic budget finally caught up.
I totally agree. Lots of people want the pool and the 4 bedrooms. They want everything now. In 1988 my interest rates went up to 18%. It should have been a lesson to the younger generation, to only borrow what they can afford to pay off in tough times. At least they have somewhere else to go, so I don't think they represent the real hard done by people forced to sell and not have a container home to live in.
Yeah lol it’s not that hard to save money - you don’t even need a spectacular income in Australia from my expeience. Just don’t spend it on unnecessary things lol it’s not that hard
Exactly what i thought
Good point.
So they own a huge home, plus they own a massive shed, not one, but 3 huge shipping containers and a nice chunk of land to put them on. What am I missing?! My family stuggles from pay cheque to pay cheque and can barely afford to pay rent in government housing and there is literally no money left over to put into savings. It's a dream of mine to build a container home and they're complaining because they can't sell their home to move onto another property that they already own!
It seems whatever happens in Australia happens in Canada a few years later
I would love to live in a container and off grid
A roof over your head and food on the table are necessities in life and should be affordable to everyone. It's a crime that for far too many in this world, they're not.
Houses "made cheaply out of shipping containers" is a lovely thought, but almost never happens.
In New Zealand for example, shipping container houses cost MORE than a conventionally built house of similar or larger size. That in large part is due to Council consenting, permitting and compliance costs. Another subject entirely is whether THOSE costs should be anywhere near as high as they are, for owner built homes made out of shipping containers.
Remember folks, they are strong while they are entire. The more holes people cut in the sides for windows and doors, the more reinforcing needs to be installed.
Remember also that attention must be paid to condensation and dampness, so be aware of what needs to be done regarding wall insulation and internal wall finishes, vapour barriers and breathability.
Another factor to consider is that often the cheapest land-only, costs about the same price as land-with-a-very-old-but-liveable-house. So if you can afford the land to put the container on, chances are you can already afford to buy some land with an existing house already.
Good luck to the folks in the story.
Since I moved to NZ for family reasons, I have spent 16 years trying to buy any land with an almost liveable structure.
I guess it's gonna take me a bit longer LOL as the already unaffordable prices of 2007, have doubled and tripled in that time.
A large part of the problem is caused by Property Investors including House Flippers and the government taxation policies which encourage and enable such behaviours. There is a saying that "Landlords provide houses for tenants in the same way Scalpers provide Concert Tickets".
Unfortunately Real Estate Agents, Mortgage Brokers and Banks, have, to me at least, been Useless and Worthless and Of No Value. I despise them all.
Let's be honest, nz is a joke
@@s.d.8506 Yes, every single country on Earth "is a joke" because of one reason or another.
In England/United Kingdom for example, if you have a breadknife in your kitchen and you write the word "Zombie" on it with a felt pen, it is instantly prohibited and serious offence to be caught with it, even inside your own home.
Meanwhile in the USA (Colorado state from memory) there was that young Kiwi born man who had a very minor traffic accident whereby his car ran off the side edge of a rural road, and was basically bogged down, on the side of the road. He rang 911 for help.
At the prompting of the telephone operator who took his call, he admitted he had 2 small pocketknives in the car. He was probably physically un-injured but in a state of mental shock. Several police cars arrived, and even one officer asked "why are we even here?"
Unlike Paramedic/Fire Rescue or Ambulance staff, who would have helped him out of the car, the police simply stood back and shouted for awhile. The guy was unable to exit the car on his own.
Then another officer smashed the passenger side window and electrocuted the young man with a taser. As he was suffering convulsions on the front seat another cop stood on the car's hood/bonnet and using his high powered semi-auto handgun, plugged him 5 times at point blank range, shooting straight through the front windscreen.
The young fellow was killed instantly obviously.
Meanwhile in the Australian State of Victoria there was a problem of drunk rowdy fans throwing obstacles onto the sports ground at sporting events, so the Victorian State government passed a law banning people from being allowed to wave their hands.
(If you are leaving friends in Melbourne, be sure to ONLY say "cheerio" don't you dare wave your hand at them !).
Meanwhile in New Zealand the government passed a special law so that "scalpers" were not permitted to buy more tickets than they personally needed and then sell them on for a profit, for certain nominated major Football Games and certain major Music Concerts. However it is worth noting that no such "anti-scalping" law prevents rich folks from buying up more houses and land than they need, and then on-selling for huge profits.
Personally I'll gladly never attend a football game or another live music concert in my whole life. But having an affordable roof over one's head is a necessity of life.
So yes I do agree with you, every single nation on Earth "is a joke" in one way, shape or form !
@@s.d.8506I agree a lot that drives the market up is greed in nz. I’d seen a woman try and sell a 20ft shipping container with a hole cut out and a sliding shoved in for 15k lol. I lasted back there for 7wks before I returned to Melbourne
fuck all nz councils.
I live in Ontario Canada. the same thing is happening here too. We have people living in tents due to rising costs of living. It gets very cold here, so I honestly don't know how people do it in the winter. It's honestly just scary living in a big city right now.
I just love how the producers of this show & more importantly the central banks (of the world) and the governments love to redirect the blame of all this inflation away from themselves and on to covid, Brexit & supply. When everyone (who has been paying attention) knows cause of inflation is money printing and zero percent interest rates - all the damage the economies of the world and families are feeling now has been caused by central bank policy for the last decade. High prices are not inflation. Inflation is caused by money printing (central banks) high prices are the RESULT of inflation. More money (money printing) chasing fewer items results in higher prices. It's not brain surgery. Shame on 60 minutes for not placing blame on the real culprits - the central banks and their terrible monetary policy for the last decade. Covid and Brexit are NOT to blame.
Honestly a lot of the blame should be pointed straight at Biden and his U.S. blindly following cultists. Him/them shutting down access to fossil fuels directly and indirectly shut down the economy, sky rocketed inflation and robbed people of their livelihoods. Covid was merely a bump in the road that they took and ran with. It’s easy to blame a virus.
Yep, it happened and ( is still happening in the US . They keep letting illegals in and it’s hard to get a job as we are swamped , over saturated now w people. Illegals have fake IDs etc and many sneak over right before giving birth to get what they can as far as freebies. We have a huge homeless problem here w Americans who have paid into social security and taxes for decades.
ITS ALL ABOUT VOTES FOR POLITICIANS.!!!!! Most Countries hate the USA but they sure do love coming here to take what they can. Please understand, im not saying all people but a lot of people. .
Agreed...and now there thinking of something else.. to gain more control and bleed the last crumbs of fiat money from those who still have any.. CBDC anyone..?
@davidcolletti7136 What is going to happen when the other powers get together and freeze out Britain, America, and Australia. The joining of China, Africa, Russia, and co? I've read that they are going to restrict trade and have their own currency.
Very true. But MSM treats us like we are stupid
Owns a house. Owns a property. Has a job.
Man.
Doing some volunteering at our soup kitchen, where people literally own only own the shirts on their backs and are living on the streets, would help reduce their stress.
I am a pensioner 70 who is living on the edge of becoming homeless my rent and power bill take up 80% of my pension goes on I can't afford to keep my car on the road and I struggle to put food on the table and I don't have enough money to see me through the fortnight
Oh my! You need to share the load with someone. Living alone is a luxury most of us are not able to afford.
@@sylviemariehebert9758what a stupid comment. Are you being sarcastic? Not everyone can get a flatmate when RENTING, and being a person over 70.
I would hate to live in Australia what a nightmare, in the United States I have a fixed mortgage rate for 15 years. It is fixed it does not go up and down it stays at 4.5, for the entire life of the loan. That's how most people have it in the United States, we were coached on not ever getting an adjustable rate mortgage because it is a scam. Australia and Canada are scamming their people, if you can leave and come to the u.s. leave.
We were the "Lucky Country" once !!! I now wish I could leave, it has been destroyed..
@@kimmccoustra438 you're right it has, because of greed, but the sad thing is it's going on everywhere across the board, in every single country, Britton UK Europe London, Canada, the United States, Australia... It's all crumbling
@@reginafisher9919 It is being done by design to usher in NWO.
At least we have free health care
@@wonderworld5606 right, I didn't know that.
Here in the states shipping containers are even outrageous
This is criminal. Why are people punished for not being wealthy? It's the same here in the U.S. It breaks my heart.
Because you had to borrow money with variable rates
What an American thing to say. Immigrats from the Mayflower and the Endeavour saw the sense and necessity of borrowing money from the wealthy to get their lives started. This is will never change with or without interest rates rises or cuts.
@@taiyah_byron my grandparents came to America fleeing the Nazis during the Holocaust. No Mayflower here.
@@beccawiley6684 all the more reason as to why your initial comment require a thorough evaluation. You are clearly not aware that the history of hate started when an economically poor, newly rejected artist sat on a park bench and walked the streets of Austria, and saw who the wealthy people were and who owned businesses on the high (main) street.
@@taiyah_byron I get it: you're a Nazi sympathizer. I'm done interacting with you.
Keep in mind the family living in the shed will now be evicted by the local Council because the family does not have an occupancy permit. The greatest roadblock to housing is government employees.
I've known people who have been to Australia and loved it. I heard it was a little expensive but everywhere is. I myself hope to visit one-day. I know this program beats the hell out of the American version of 60 minutes. You guys and girls ROCK.......
"Gosh.. is this how I'm going to have to live!?" And yet, millions everywhere would love to rent a place "like that".
I don't see why they're saying inflation rate has come down. Fuel has jumped 100% since the pandemic is over, rent has jumped 50%, electricity has jumped 35%. These are essential to basic human needs that has the biggest impact on our lives. How is the 4.5% calculated?
By omitting certain basic items. . . It's a scam like the financial system.
@@Blue1Sapphirejust adjust the ruler and the measurements will be fine!
I have been saying that all along. They are like “the cost of living as increased by 1.9%” and I’m just baffled… things have increased in general by 30 to 50%…
@@sylviemariehebert9758 they probably take a few items into account from the supermarket market shelves only, sugar, salt, pepper, toilet papers, KitKat....
Instead of chastising central banks for increasing rates now, we should be chastising them for lowering rates to unsustainably low rates in the first place. It is the low rates which caused housing prices to ramp up, it is the low interest rates which increased money supply that has caused the inflation we have seen, and it is the low rates ultimately that are now causing pain for people as rates return to historically normal levels.
The government and councils need to get together and change the legislation to allow tiny homes and modular prefabs or container homes
when did housing become a commodity? Government policies around the world have encouraged large investors in housing commodification. Citizens need a place to live at a price the economy can support.
The irony of the shirt he chose for the interview
can you tell me please what the shirt means? says??
Well I’m born here saw my parents own a home but will never happen to me wages to house prices what a joke 😢
I wish I could even afford the container. We have a major housing crisis on this whole planet it seems.
Thank you “civilized” first world nations for showing the world how valuing greed supersedes valuing mankind: e.g, medical cost, housing, AND food cost are unattainable!
As a 59 yr old American, I just moved into a room in a home with many others because my city’s prices have hit the roof…well…the cost have hit infinity!!! Example: studio (1 bedroom) apartment, listed as a “condo” with one parking space: $1.1 MILLION (USD)! Sad and absolutely horrible.😢😢😢!
Thanks 60 Minutes Australia for sharing the voice of all of us who are literally controlled by such belittling behavior.
Like as if third world countries are any better.. people from third world countries would STILL love to move to the first world.
@@joelc9439of course we can always find people that are worst off but I think that expecting to have a roof over your head is not to much to ask for when you live in a supposedly rich country.
A shipping container is much better than how the majority live here in the Philippines.
Wages average $15 a day.
Apart from that, the financial system and how it has been set up with Governments being able to print their own money with no gold backing, invites corruption in the way of inflated dollars. Too many dollars chasing too few products.
Hence the need to suck all those dollars back up using higher interest rates.
Problem is u got 300 trillion plus printed dollars in worldwide debt, that cannot be paid back.
This is not going to end well.
Tell them to stop breeding, that might solve that problem?
Agree with what you say. Tge 1 thingbin Phillipines is that peole live with families more .. here we have noone to turn to except street
Yes but that's changing now
Australia also prints money with no gold backing, Australia owing to IMF trillions of dollars. Per capita now each Australian is on debt because Australian GDP is negative this year
PHILIPPINES A VERY POOR COUNTRY. CORRUPTION is the main reason. Marcos SR ,father of current President Marcos Jr. STOLE USD10 BILLION FROM 1965 1986, 110 MILLION Pinoys are dirt poor.
It blows me away people are surprised when there repayments go up when interested rate was .1% it could only go up and by alot people are so brainwashed and they don't even know it
Ditto
So true! As so many went out and purchased property in COVID.
Its quiet interesting how we reject the reality of our situation and expect to be able to observe it, control it and even change it. I used to be financially depressed until I read a book that made me realized that the secret to making a million is making better investments.
May I ask which investments are good? I've been looking at a few different ones but want others' opinions as well
What I think everyone need is an adviser, who can help you get in and out of any investment at any time and you'd sure be in Profit. With this I feel anyone can basically achieve financial freedom
*STEPHANIE KOPP MEEKS* , That's whom i work with
You can glance her name up on the internet and verify her yourself. she has years of financial market experience
Thanks so much I was able to find her page and I already leave her a message
In Toronto, too many people aren't able to afford the rents in downtown. I'm on disability and before I found a great roommate, had to live in nasty, DANGEROUS situations. To find an affordable place my roommate and I had to move to the extreme east of town, far from the downtown area. The rent keeps going up, we are getting worried.
Sending love from your fellow Torontoian !! Same feeling here.
Too many people in the city and many houses are actually empty..
Here in the USA I have been watching videos of ghost towns. It is heartbreaking to see it, but a reality. People leave to other places to work, to go to better schools and many towns are just dying, and in less than 10 years, after the elderly are dead, that is it, no more city, and many houses are already falling apart. Very sad.
I hope they sell their house soon and get through.
They own 2 properties?
Sadly there will be no retirement for millions of people like me, got up early and worked my guts out all my life, both my wife and I work full-time and shortly I could be looking at a second job.
Inflation by definition is the expansion of the money supply.
Exactly. There's too much money chasing too few goods and services right now.
Agree. Wish people would get it. Hardly anyone knows this. By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens. John Maynard Keynes
Of course you know in Northern Cal it's so expensive. I lived alone all my life but after then fires I had to move. I moved into a one bedroom cute apt regular complex in 2014 for 1300.00 per month and now that same apt is 2400 per month. I don't have children so I moved into what is called a "share rental" meaning someone opens their home or apt for rental. The first time the person rented me the room but then I found out her home was in FORECLSURE!! I have a nice roommate now but I'm 72.
The real story here and also in most western capitalist economies, is wages are way too low. The whole point of capitalism and with those in control of corporations and other big business , is to drive up the prices of their products and keep labor costs down. Ultimately, if successful, the flow of money goes up, not down, enriching those in power and impoverishing labor.
Unfortunately this is the situation all around the world..
Insane! I don’t understand……. Horrible, just horrible! I wish for this family to be happy, 🙏
Straight off, i see a coffee-maker that likely cost more than my last automobile.
And it’s probably 10 years old. What in gods name is your point????
They have been indulging themselves for years with goodies and spending money on things like tattoos and fancy hair jobs instead of saving it.
Its the same here in the states. I’m a doctor epidemiologist virologist who could not afford my cost of living and my student loans
Working to just pay your loans back isn’t a way to live either. I just can’t help but feel, God did not put us on this earth to live like this. Literally working our lives away.
This is so heartbreaking. My family moved to New Zealand from the UK in 2004. My parents are now moving back after doing the maths and realising they can not retire here comfortably at all. They will end up in poverty if they had to stay here paying 8.95% mortgage interest and the whopping grocery bill every week. The world has gone bloody mad. My parents would rather be in their home country suffering than in NZ which is suffocating itself.
That is a sad situation. And they may not get the house/ accommodation that they used to have. They tried. All the best to them.
I think its a wise move for your parents. I have grown up in NZ and the past 3 years have damaged it beyond anything I ever imagined. The current government has run the country into the ground.
@@carolynmurphy9733 it’s so sad to see what was once a prosperous, thriving country slowly dying. If I could, I would also leave and give my children a better future in the UK but their father, who is NZ born and bred and is blind to the issues here, will not let them leave.
UK?? Oh please the UK is bad too! The last few prime ministers are really bad..
Mmmm I'm sorry but new Zealand is far far superior to the uk , are u people actually trying to compare Bradford, Birmingham, Luton, Doncaster to places like Christchurch, Nelson, Dunedin! For the love of christ people get f@-king real 😂
I feel for this man and his family, because I understand it as a young widow also struggling... but his choice of t-shirt, really? For a TV interview about your very real struggles and you wear a t-shirt that says IDK, IDC, IDGAF. Kinda counteracting the msg.
100 percent.... fishing for sympathy with the tears yet he wears that shirt..... I am almost speechless!!!
Im amazed most people have been able to keep their homes and not fallen of the cliff. Good on them, how they are doing it is beyond me
You don't eat
Most families have help or have been careful..
Well, the couple in this article aren't doing it hard. They own two properties, the Bundaberg one and the offgrid one. They're not hard up, just overspending.
2 incomes, side hustles, cancelled music and movie streaming, home coffee,
The reason for all these cost of living, when you go deep to discover the real issue, is housing investors. They raise the demand for housing and raise the price. They are numerous and have unlimited money. Land and houses are limited and many miss out as they can't compete with cashed up investors. But because investors bring money for the government, governments love them. In the long run they will destroy societies and make many poor and having to rent for the rest of their lives.
The main reason people invest in property is because central banks keep printing too much money and land holds its value better than other investments, with less risk. "Safe as houses" they say in Australia.
This is also happening here in Canada.Rents going up mortgage rates at a all time high.People losing homes,they can't afford any longer.Food expensive hard to put food on the table.Crazy times
It would help if truly smaller homes were built and accepted by people who even have 3 -4 kids. Better to share a room rather than experience the constant fear of homelessness.
How much smaller do you want them to go?
In Canada a 2 bedroom apartment is $2600 now, a house big enough for 4 kids is at least 3.5k/month. They're already downgrading to smaller accomodations, fighting the less well off for the affordable options.
Yup. In Malaysia it's normal to live in a 1600sqf apartment for a 2 children fmly. Atvleast we own the house forever , got amenities like shared pool n gym, our children will inherit
@@blackswan1983 Difficult times for sure.
The rich have been extra greedy lately
The issue is that the low interest rates made money cheap and so people could afford to borrow more to buy average priced homes. This increased the demand on homes and pushed the prices up. Now that the interest rate is correcting itself to the long term average means that money is becoming more expensive to borrow and house prices will need to drop to be affordable for families. The good times of the past 5-10 years were a high tide but wise people know that the tide goes in and out and to plan accordingly. This issue began long before covid and the supply chain issues.
Since Biden took office, there seem to have been more unfavorable results in America. These results include effects on the markets, such as price declines and sharp increases in inflation, as well as bank failures. I wonder if the sudden increase in interest rates will help value investors or if it would be wiser to stay away from the stock and financial markets for the time being.
To "buy the dip" It will be profitable in the long run. However, investors should be wary of the bull run. It is advisable to connect with a skilled adviser to fulfill your growth objectives and prevent mistakes. High interest rates typically result in lower stock prices.
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Look at price gouging at big grocery chains! Loblaws up here in Canada is being scrutinized by the government and so are other big chain stores. Other industries are raising prices too, this isn't government made!!
Asoooo
😢 it's the same everywhere
People are suffering 😔
I know 😢
So sad. And the politicians just fill up them pockets and get more greedy.
We need more suffering. More inflation. Keep voting liberal and democratic!!!
She had the nerves to say they are running away
It's reality here in the U.S. also 😢
The world is coming to a financial end with mortgage payment's rising, rental figures above 20 years ahead and homelessness everywhere the eye sees.