00:02With three kids and just one income to service their mortgage, the Cruz family is preparing
00:08to turn their back on the great Australian dream.
00:11Sell the house and then go somewhere else, move in with other family members or something.
00:17A drastic measure it follows the fourth rate rise this year.
00:21Hopefully we don't get there, but who knows.
00:24The decision by the Reserve Bank saw the cash rate increase to 4.6 percent.
00:28This is tough, and can I say that the board did not take this decision lightly.
00:36Tough too, when small business owners.
00:38Our loans have gone up probably around that roughly $1,000 a month.
00:42Look to increase our pricing on our eggs.
00:45Now all my money goes towards living.
00:48It takes so long to save up anything to go out.
00:51We're going to have to tighten a few things here and there and look where we spend.
00:54Renters will now feel the pinch even tighter.
00:57It could mean that investors that own that property may need to increase rent moving
01:02forward when they re-sign their contract.
01:04$300, maybe early $400 and now it's over $600.
01:08Same property and nothing's changed.
01:09There's been no improvements or changes to it.
01:11According to the Australian Bureau of Statistics, Queenslanders have the second largest mortgages
01:17in the country.
01:17The average loan is more than $750,000 with repayments steadily increasing from a series
01:23of rate rises.
01:24It could mean about an extra $114 a month for home loan owners.
01:30And experts speculate another rise will arrive later this year.
01:34Being a mortgage holder I hope not, but we just don't know.
01:37To be continued...
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