00:00Interest rates were very high many, many years ago, but it's all relevant and it's, you know,
00:04they say they're going up now and it's nowhere near as much as it used to be, but it's so
00:09relevant and it's very hard for young people to do it on the interest rates that there are now
00:13and the cost. Do you own your own home? No, I don't. And do you find it hard to live
00:18on a pension?
00:19Absolutely. I'm a renter and a pensioner and I find it very difficult. What's the biggest
00:23impost in terms of cost? Well, probably groceries, you know, general food cost of living. I do still
00:31run a car, so petrol is also another concern of mine and naturally the rent. Well, home ownership
00:37must be very hard. How can anybody in a normal person ever afford a million dollars for an
00:43apartment with one bedroom? Can they? Did you find it hard to get into the market? Easy. You know,
00:49when we first got a house, it was something like $20,000, can you believe? What year was that?
00:55Oh God, I don't know. I'll have to try and think about that. 1970 something. And within one year,
01:04the value of that house doubled. So that was, we just seemed to get the best, you know, the best
01:09time
01:09to ever buy a house. But it was cheap. Everybody could afford one. Everybody could afford a house.
01:14You know, you just had to, ordinary people just had to kind of go to work and get a loan
01:19and
01:19buy a house. Now, it's prohibitive. We already owned our home, so we don't,
01:25didn't affect us, but I'm sure it's hard for young people. Yeah. Do you think life was harder in
01:30general back then? Or now? Probably now. Why is that? Because of the cost of housing and even for
01:37renters. Living, cost of living. And what about life in general? Because, you know, we have more
01:43people. We have a fertility rate that's going down. People aren't having children. Less marriages.
01:50Sounds pretty dire, doesn't it?
01:53What's the solution?
01:55Yeah. I mean, for us, it's different. So it's really hard. We'd have to put ourselves in the
02:01position of being a young person again. Yeah.
