Cost of living crisis: Family moves to a shipping container | 60 Minutes Australia

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.

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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[ladytammy]

Well done to the Australian government for allowing this to happen 👏 absolutely disgusting!!

[kjova]

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

[sueatkins]

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!!!

[adamc]

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.

[SY-czkb]

This is outrageous!!! Working full time and can’t to live. What have we come to????

[Narcissistic]

Atleast they have property, most people don't have that luxury

[verysad]

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❤

[timothy]

Interest rates are not the problem ; it’s housing prices caused by mass migration especially the ones named on that shipping container

[EmiFromMars]

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

[tonysilke]

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.

[debbiewright]

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.

[TheHiredSword]

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)

[megan]

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!!! 💛💛💛

[sheilaolson]

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.

[SolarPowerMyRV]

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.

[meplife]

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.

[kathyotoole]

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!

[lisascott]

People live well above their means. Stop buying things you don’t need. Think twice before you make a purchase.

[veganandlovingit]

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?

[McChrister]

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….🙏🏼🍀👋🏼🇨🇦