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"Absolute disappointment": Home and Away fans slam season finale

Fans of Home and Away have been left outraged after the finale of the 2024 season, with many claiming it was "boring and predictable". Viewers of the long-running Aussie soap were disappointed by the feature-length episode that promised "bloodshed" and "deadly consequences" and while it ended with two lives hanging in the balance. The show is set to return on January 13th and pick up where it left off, leading to the resolution that will see fans waiting almost two months for answers. After Thursday night's finale, hundreds of fans flocked to social media to share their annoyance over all the drama being crammed into the last 10 minutes of the episode, despite its 90-minute runtime. "Found the last episode so boring and predictable," one fan said. "How many more coppers are going to end up in jail?" "I have to say, that was ridiculously s**t for a season finale," another complained. "The best bit was the last 15 seconds." "That was the worst ending," someone else said, with another agreeing. "What an absolute disappointment for this year's final episode. Love Home and Away, but this was by far the worst final episode of the season ever." "I was so disappointed with the ending," another fan said. "I expected it to be more drama/suspense but it was quite boring in my opinion. Now an almost 2 month wait for the show to return." While many were disappointed, others were excited to see how the dramatic storyline is set to be resolved in the new year. "I'm so excited for the new season," one fan said. "What am l going to do without this lol it’s pretty sad when you so look forward to it at 7pm," another lamented. "I can't believe I've got to wait till next year, it's already killing me," someone else agreed. Image credits: Home and Away

Readers response: What seems too expensive but is really worth the price?

We asked our readers what items or experience seem, too expensive but are really worth the price, and the response was overwhelming. Here's what our audience will always justify the price of. Robbie Kirkwood - Travel insurance. Elizabeth Foster - Business class on long haul flights. Jeanette Wallis - Coffee beans. Mandy O'Connor - A good pair of Levi jeans, and a good pair of boots. Pamela McDonald - I would say electricity! Seems lots complain about the cost until you lose power, then you realise how hard life would be without it. Tess Witchell - Real butter! Three ply toilet rolls, frappe iced coffee from McDonald’s, and proper bakery bread. Sue Yunker - Wine! Michael Schulze - A decent cup of coffee. Suzanne Jones - A holiday. Rose Niemack - Fruits and vegetables. Image credits: Shutterstock

Money & Banking

Italian village offers $1 homes to Americans upset by US election results

An Italian village in Sardinia, Italy is offering one-euro homes to Americans seeking a new start following the results of the 2024 U.S election that saw Donald Trump being re-elected as president. Ollolai has long been trying to persuade outsiders to move in to revive the community after decades of depopulation. Now, it's selling dilapidated houses for as little as one euro — just over a US dollar or $AU1.60 — to entice Americans to move abroad. Following the November 5 outcome, they have launched a website aimed at potential American expats, offering cheap homes in hopes that those disappointed by the result and seeking a fresh start will snap up one of their empty properties. "Are you worned (sic) out by global politics? Looking to embrace a more balanced lifestyle while securing new opportunities?" the website read. "It's time to start building your European escape in the stunning paradise of Sardinia." Mayor Francesco Columbu told CNN that the website was specifically created to attract American voters in the wake of the presidential elections. The mayor loves the United States and is convinced Americans would be the best people to revive the community. "We just really want, and will focus on, Americans above all," he said. "We can't of course ban people from other countries to apply, but Americans will have a fast-track procedure. We are betting on them to help us revive the village, they are our winning card." The village is offering three tiers of accommodation: Free temporary homes to certain digital nomads, ($1.6) homes in need of renovations, and ready-to-occupy houses for prices up to $160,000. The mayor also set up a special team to guide interested buyers through every step of the process including finding contractors, builders and navigating required paperwork. "Of course, we can't specifically mention the name of one US president who just got elected, but we all know that he's the one from whom many Americans want to get away from now and leave the country," Columbo added. "We have specifically created this website now to meet US post-elections relocation needs. The first edition of our digital nomad scheme which launched last year was already solely for Americans." Photos and plans of available empty properties will soon be uploaded to the website. The website has since received nearly 38,000 requests for information on houses, with most of them coming from the United States In the past century, Ollolai's population has shrunk from 2,250 to 1,300 with only a handful of babies born each year. Over the last few years, this has dropped 1,150 residents. Image: Shutterstock

International Travel

Man dies after months-long wait for at-home care

A man has died after his almost year-long wait to receive his government-approved at-home care. Cyril Tooze, 86, was <a href="https://oversixty.com.au/health/caring/man-decides-to-end-his-own-life-after-waiting-for-at-home-care" target="_blank" rel="noopener">approved</a> for a Level 4 Home Care Package in January, but almost one year on, he was still waiting for access to the money to fund daily assistance with physical, medical and social tasks. After sharing his story with 7News in October, Tooze candidly admitted that he was pursuing the avenue of voluntary assisted dying, saying at the time, "There is no hope." Just weeks later, Tooze has passed away. While in hospital after suffering a fall, Mr Tooze passed away on Friday, weighing just 46kg. Independent federal Mayo MP Rebekha Sharkie, who advocated for Mr Tooze to receive his government funding, said it had been an honour to have known him. "The man that I knew, he had such courage and such dignity to the very end," she said. "To the very end he wanted his situation to shed light and provide a human story for the 76,000 other older Australians who, just like him, are deteriorating, having accidents and injuring themselves while waiting for a Home Care package that they've been assessed as needing." "Despite a new Act being passed in the House of Representatives with urgency, there is no plan from the government to address the blown-out waiting list and the reality is that people are dying while they're waiting for Home Care." Federal aged care minister Anika Wells said her thoughts were with Mr Tooze's family and friends "as we mourn their loss but appreciate Cyril's life and his commitment to helping older Australians." Image credits: Nine

Caring

Former Home and Away star's joyful baby news

Former Home and Away stars Rebecca Breeds and Luke Mitchell are expecting their first child together. The Australian actress and her co-star turned husband confirmed the happy news on Instagram. The 37-year-old actress made her little baby bump debut at the Adelaide Film Festival and shared a picture of herself on the red carpet looking stunning in a form-fitting pink dress. “VERY excited to share baby Mitchell and @kangarooislandmovie coming sooooooooon! Thanks @adlfilmfest for having us and everyone who came to support us🙏🤍,” she wrote on Instagram on Tuesday. The mum-to-be rested one of her hands on top of the baby bump as she proudly smiled for the cameras. The actress was at the festival for the premiere of her new film Kangaroo Island on the event's closing night. Her husband commented on the post with a series of heart-eyed emojis. Breeds' co-stars and fellow actors were quick to congratulate the couple in the comments. “Congratulations Bec and Luke! Very exciting news,” Home and Away star Lynne McGranger said. “Ahhhhh amazing you guys! This is the best news!” former Home and Away actress Jessica McNamee added. “Congrats!!!!!” A Perfect Pairing actor Adam Demos said. The couple first met on the set of Home and Away in 2009 and quickly became a fan-favourite off-screen relationship. Breeds played Ruby Buckton on the soap between 2008 and 2012, while Mitchell played Romeo Smith between 2009 and 2013. The couple tied the knot in January 2013 and went to live and work in the US for years before returning to Australia. Images: Instagram/ Seven

Relationships

"I’m coming home from a party, and I don’t want to end up getting arrested": do driving apps help people break road rules?

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/verity-truelove-1237331">Verity Truelove</a>, <a href="https://theconversation.com/institutions/university-of-the-sunshine-coast-1068">University of the Sunshine Coast</a>; <a href="https://theconversation.com/profiles/michelle-nicolls-1299069">Michelle Nicolls</a>, <a href="https://theconversation.com/institutions/university-of-the-sunshine-coast-1068">University of the Sunshine Coast</a>, and <a href="https://theconversation.com/profiles/oscar-oviedo-trespalacios-1417150">Oscar Oviedo-Trespalacios</a>, <a href="https://theconversation.com/institutions/delft-university-of-technology-1040">Delft University of Technology</a> Apps such as Google Maps, Apple Maps and Waze can tell drivers when they are approaching speed cameras or random breath testing stations. Countries such as Germany, France and Switzerland have banned apps from displaying these enforcement locations. But what effect are these apps having in Australia – are they helping drivers break road rules? Our new <a href="https://www.sciencedirect.com/science/article/pii/S0925753524002972">paper</a>, published in the journal Safety Science, examined this question. We found this technology can, in some cases, contribute to people thinking they are invincible on the roads. However, we also found they can sometimes help people drive more safely. <h2>Being made aware of enforcement can help road safety</h2> We conducted focus groups and interviews with a total of 58 drivers from Queensland, to understand how the use of this technology influences perceptions of being caught for breaking road rules. One driver told us: "If I know it’s coming up, I’ll put my phone down. If I was, say, texting or checking something, but then like once a good few 100 metres away, I sort of pick it up again, depending though." Another said: "It sort of depends where I am driving, I guess. Like, if I am driving on a country road and there is a speed camera there I would probably slow down for the speed camera and then sort of speed up again once I am sort of past that; it sort of depends on the circumstances." We also found that, for some people, being made aware of enforcement locations can help drivers better regulate their speed. This helped them comply with road rules more consistently. Waze also shows the speed limit in the area, which further assisted some drivers to stick to the speed limit. One driver told us: "I’m a bit careful if I just look at the speedo and just double check that I’m on the right amount of speed." Another said: "It just gives you a warning like, ‘OK, you need to check your speed.’ Just to double-check you’re going on the right speed perhaps or when it’s a camera coming up." <h2>Concerning behaviours</h2> Concerningly, we also found some drivers who use these apps are looking at and touching their screens more than they otherwise would. This can distract drivers and increase their <a href="https://www.sciencedirect.com/science/article/pii/S0925753524001097">risk of crashing</a>. One driver told us they post traffic updates on the app they use while driving, “which I know is wrong.” Another said: "Just hit the button on the phone. Just two steps after I go past the camera." Another driver told us: "It’s so helpful […] Especially if it’s, say, late night and I’m coming home from a party, and I don’t want to end up getting arrested." One driver said: "I probably feel slightly more invincible, which is probably not a good thing." When asked why these apps are used, one driver said: "I guess the drug and the drink-driving." <h2>Apps can help and hinder road safety</h2> We know breaking road rules significantly contributes to <a href="https://www.who.int/teams/social-determinants-of-health/safety-and-mobility/global-status-report-on-road-safety-2023">crashes and road fatalities</a>, with deaths on Australian roads continuing to <a href="https://www.bitre.gov.au/publications/ongoing/road_deaths_australia_monthly_bulletins">increase</a> over time. On the one hand, when drivers are aware of enforcement measures like cameras and police, they are more likely to stop breaking the rules in those areas. That’s particularly true for behaviours such as speeding and using a phone while driving, we found. Using apps that flag where cameras and police are located also means drivers would be more exposed to enforcement activities than they otherwise would be on a normal drive. On the other hand, our results suggest some drivers are using these applications to break road rules more often in places where they think they won’t be caught. These apps are also not always completely accurate. For instance, even though Waze can display some police operation locations such as roadside breath testing, it can’t capture all on-road police activities. Further, camera locations are not always up to date or accurate. <h2>Weighing benefits against risks</h2> While these apps do have some benefits, it’s important to weigh these against the risks. It’s also important to recognise traffic enforcement isn’t just there to make you comply with road rules at a specific point; it is meant to remind you of the constant risk of being caught and to encourage consistent rule compliance. The goal is to ensure that drivers are following the traffic rules across the entire network, not just in isolated spots. With road fatalities at some of the <a href="https://www.bitre.gov.au/publications/ongoing/road_deaths_australia_monthly_bulletins">highest rates we’ve seen in recent years</a>, we need everyone to work together to stop more preventable deaths and injuries.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/237664/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/verity-truelove-1237331">Verity Truelove</a>, Senior Research Fellow in Road Safety Research, <a href="https://theconversation.com/institutions/university-of-the-sunshine-coast-1068">University of the Sunshine Coast</a>; <a href="https://theconversation.com/profiles/michelle-nicolls-1299069">Michelle Nicolls</a>, PhD Candidate, <a href="https://theconversation.com/institutions/university-of-the-sunshine-coast-1068">University of the Sunshine Coast</a>, and <a href="https://theconversation.com/profiles/oscar-oviedo-trespalacios-1417150">Oscar Oviedo-Trespalacios</a>, A/Professor Responsible Risk Management, <a href="https://theconversation.com/institutions/delft-university-of-technology-1040">Delft University of Technology</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/im-coming-home-from-a-party-and-i-dont-want-to-end-up-getting-arrested-do-driving-apps-help-people-break-road-rules-237664">original article</a>. </div>

Legal

Man decides to end his own life after waiting for at-home care

A terminally ill man has made the heartbreaking decision to end his life after waiting 10-month for end of life care. Cyril Tooze, an 86-year-old from South Australia's Fleurieu Peninsula, was approved for a Level 4 Home Care Package in January. The package - which is the highest available care for individuals with high-level needs under the federal government’s MyAgedCare scheme - would give Mr Tooze up to $59,594 annually for daily assistance with physical, medical and social tasks. But almost one year on from the approval, his funds and support have yet to be delivered. It’s understood his family, who live interstate, contacted the government to enquire about receiving an urgent reassessment, and were told he could be waiting another three to six months. Independent MP Rebekha Sharkie told reporters that his family were also told a reassessment “could delay it even longer”. While waiting for his vital funds, Mr Tooze - who suffers from terminal heart and lung conditions and regularly requires morphine for pain relief - has worsened and has been hospitalised after suffering a fall at home. Tired of waiting for help to arrive, Tooze has started the process of ending his life through South Australia’s voluntary assisted dying scheme. “There is no hope ... I don’t want to live my life laying in a bed waiting for something to happen,” he told <a href="https://7news.com.au/news/terminally-ill-mans-heartbreaking-decision-to-end-his-life-after-10-month-wait-for-home-care-in-australia-c-16471785" target="_blank" rel="noopener">7News</a>. “You can’t live like that, that’s unfair, we don’t deserve that in such a country as Australia.” Following the media coverage of his case, Tooze was contacted by the Aged Care Department, who said the package could temporarily be made available. Sharkie said Tooze’s situation was “shameful”, saying, “What devastates me is that Mr Tooze feels voluntary assisted dying is the only course available to him, and that is because we as a nation have failed him." “I would say, if Mr Tooze had that package in a timely manner, as he should have, he would probably be sitting at home now, making himself a cup of tea.” Anglicare Australia’s <a href="https://www.anglicare.asn.au/2024/09/20/life-on-the-wait-list-report-shows-older-australians-are-going-without-support/" target="_blank" rel="noopener" data-link-type="article-inline">Life on the Wait List report</a> revealed that as of May 2024, 68,109 Australians had been approved for a Home Care Package but were facing wait times of up to 15 months to access it. Image credits: 7News

Caring

NRL legend calls for help to get newborn baby home

NRL legend Jesse Ramien and his partner Shell are pleading for help to get their newborn baby home after Shell's traumatic birth experience in Bali. The Cronulla Sharks player and his wife travelled to Bali for a friend's wedding while Shell was 33 weeks pregnant, who was cleared by her doctor before their trip. However, after just three days into their holiday, Shell went into early labour which quickly led to an emergency C-section, with mum under anaesthetic and baby boy Teo needing five minutes of resuscitation. Baby Teo was rushed into a neonatal intensive care unit, with his parents not able to meet him until the day after he was born. The family has been torn apart since with the parents still yet to hold Teo, who remains in an incubator, and older son Tallen returning home after Shell’s mother rushed to Bali to help. It is not known when the family can return to Australia, as Teo's condition is still unstable. “There’s just so much uncertainty here. We’ve been told by doctors it could be four weeks before our baby is okay to travel, but that could quickly change to five, six, or seven weeks, who knows,” Ramien told <a href="https://www.dailytelegraph.com.au/sport/nrl/sharks-star-jesse-ramiens-impassioned-plea-for-help-from-the-australian-government-to-source-flight-to-bring-baby-back-to-australia/news-story/1208830641c06ecb8c2450b95eeabece" target="_blank" rel="noopener" data-link-type="article-inline">News Corp</a>. “We’re doing everything to contact the Australian embassy to see how we can get home both as quickly as possible, so that our boy can get the medical attention he needs.” A family friend has set up a <a href="https://www.gofundme.com/f/need-your-help-to-fly-our-boy-teo-home" target="_blank" rel="noopener">GoFundMe</a> page to help the couple get home with their baby on an emergency flight, with $45,000 of their $100,000 goal already raised. “I’ll play for nothing just to get our baby boy home safely,” Ramien said. Shell, who received clearance from her obstetrician and the airline before travelling, ensured her pregnancy was covered by a top travel insurance package, however baby Teo’s medical costs — tallying more than $20,000 so far — are not included, while the total costs to get Baby Teo home could exceed $130,000. Ramien has been sharing updates on Instagram, posting a picture of his new son with the caption, “Home soon my boy,” while Shell added, “Won’t be long my boy, we'll be home soon.” Image credits: Instagram / GoFundMe

Caring

"One of the best": Home and Away stars pay tribute to colleague

Former and current stars of Home and Away have paid tribute to their colleague, who has passed away after a battle with cancer. Bruce Murray, who worked as a key grip behind the scenes of the show, has died just one year after going public with his diagnosis of oesophageal cancer. The news of his passing has rocked the show, with cast mates taking to social media to share their stories of their time with Bruce. "Love you Brucey, you beautiful thing," Emily Weir, who plays Mackenzie Booth said on Instagram. What a man, never a dull moment on the set or on the dance floor," Sarah Roberts, who played Willow Harris on the show before leaving in 2021, wrote. "One of the reasons I loved going to work... couldn't stop giggling at his jokes and his dance moves. I'll miss you Brucey!" "One of the best gone too soon," Home and Away's head of makeup and hair, Laura Vazquez posted on Instagram. "Will miss you, mate. Can't believe I won't be seeing you again. RIP Brucey, you absolute legend." Murray's diagnosis with stage four oesophageal cancer was made public in October 2023, when his loved ones launched a GoFundMe page to help raise money for his family as he underwent treatment. "Recently our beloved, good friend, Bruce Murray was diagnosed with Stage 4 Oesophageal Cancer which has unfortunately gone into his blood stream and formed multiple cancers on his bones – ribs, spine, collar bone, sacrum, and hips," the GoFundMe page's message read. Many Home and Away alumni contributed to the GoFundMe, including Ada Nicodemou, Matt Little, Georgie Parker, Jessica Tovey, Stephanie Panozzo, Pia Miller, Ethan Browne, Axle Whitehead, and Philippa Northeast as well as numerous other anonymous donations and donations from producers and other Home and Away staffers, with the page raising $51k for Bruce's treatment. Bruce is survived by his wife of 19 years, Shelley Murray – who is a costume designer and head of the Home and Away wardrobe department – and their two children. Image credits: Instagram

Caring

Ian Thorpe lists luxury home at a discount

Ian Thorpe has returned his luxury Woollahra townhouse to the market for a price of $3.5 million. The Olympic gold medallist previously listed it on the market for $3.7 million in September last year but failed to find a buyer at that price. The townhouse boasts four-bedrooms and three-bathrooms and sits on 250sqm of land. It also has an outdoor swimming pool and a beautiful outdoor tropical garden. Thorpe purchased the home in December 2017 for $2.75 million and has since done extensive renovation work to the property. He remodelled the terrace and added in stylish sliding doors. It also features open plan living areas perfect for families. "It's completely private and secluded," letting agent Courtney Wong told The Sydney Morning Herald in 2023. A description for the property reads: "For those seeking a private escape with all the comforts of a luxury home, this is everything you could have dreamed of and more. "A true gem tucked away at the quiet rear of a boutique block of only six, this residence represents the perfect mix of modernity and the natural world with its contemporary architectural design in a tranquil leafy setting." Images: Ray White Double Bay/ Instagram

Home & Garden

Why Lisa Marie Presley kept son's body at home for two months after his death

Lisa Marie Presley was so heartbroken by the loss of her only son, Benjamin Keough, at just 27-years-old in 2020, that she kept his body in her home for two months after his death. The star revealed this in her memoir From Here to the Great Unknown, which was finished by her daughter Riley Keough after the 54-year-old’s death in January 2023, according to Page Six. In the book, Lisa Marie opened up about the extent of her grief, saying that she had to force herself to "fight" to stay alive for her remaining children, and one of the ways she coped was not saying goodbye to Benjamin right away. “My house has a separate casitas bedroom and I kept Ben Ben in there for two months. There is no law in the state of California that you have to bury someone immediately,” Lisa Marie wrote. “I found a very empathetic funeral homeowner. I told her that having my dad in the house after he died was incredibly helpful because I could go and spend time with him and talk to him. She said, ‘We’ll bring Ben Ben to you.’” The room was kept at around 12 degrees celsius to preserve his body, and the star continued saying that she felt “fortunate that there was a way that I could still parent him, delay it a bit longer so that I could become okay with laying him to rest.” Another reason why she decided to keep his body was because she wasn't sure whether to bury him in Hawaii or at Graceland, the Memphis estate where Elvis died and is buried. At one point, Riley and Lisa Marie decided to honour Benjamin by getting matching tattoos of his name, which was inscribed in the same place where Benjamin had his tattoos. Riley recalled the odd moment Lisa Marie brought in the tattoo artist into her home. “Lisa Marie Presley had just asked this poor man to look at the body of her dead son, which happened to be right next to us in the casitas. I’ve had an extremely absurd life, but this moment is in the top five," Riley wrote in the memoir. Lisa Marie acknowledged that it was odd, and soon after the tattoo day, they "got the vibe" that Benjamin wanted to be laid to rest. “Even my mum said that she could feel him talking to her, saying ‘This is insane, Mum, what are you doing? What the f**k!” The family held a funeral for Benjamin in Malibu, and he was buried at Graceland alongside Elvis, and now Lisa Marie as well. Image: Copetti/Photofab/ Shutterstock Editorial

Family & Pets

Aussie family's refusal to sell family home could land them a $60m fortune

An Aussie family that repeatedly said no to selling their much-loved family home to developers could land them a $60million in Australia's booming property market, but the defiant family refuses to sell. A year ago, the Zammit family from Quakers Hill in Sydney's north west caught worldwide attention when they refused to sell their 20,000 sqm parcel of land to developers who had purchased all the other land around them. The family received offers of up to $50m to sell their home to complete the new development named The Ponds, but they refused to sell. That didn't deter developers who are still offering the owners a massive amount of cash to sell their homes, with offers reportedly around $60m now, meaning the family have earned another $10m or 20 per cent over the past year. According to PropTrack home prices in Quakers Hill have risen by 8.5 per cent over the past 12 months, meaning that the Zammits would have earned at least another $4.25 million. The median price of a home in Quakers hill is now at $1.172m, around a decade ago it was $700,000. Last year, one of the property owners, Diane Zammit, 50, told news.com.au that the neighbourhood used to be “farmland dotted with little red brick homes and cottages." “Every home was unique and there was so much space – but not any more. It’s just not the same,” she said. It is estimated that 50 houses could fit on the block of land if they chose to sell, but some of their neighbours reportedly don't want them to, as they like living in a cul-de-sac. Ray White Quakers Hill agent Taylor Bredin previously praised the family for staying put. “The fact that most people sold out years and years ago, these guys have held on. All credit to them," he told 7News. “Depending on how far you push the development plan, you’d be able to push anywhere from 40 to 50 properties on something like this, and when subdivided, a 300 square metre block would get a million dollars.” Images: Channel 7

Money & Banking

We tend to underestimate our future expenses – here’s one way to prevent that

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/ray-charles-chuck-howard-1361224">Ray Charles "Chuck" Howard</a>, <a href="https://theconversation.com/institutions/texas-aandm-university-1672">Texas A&M University</a>; <a href="https://theconversation.com/profiles/abigail-sussman-227057">Abigail Sussman</a>, <a href="https://theconversation.com/institutions/university-of-chicago-952">University of Chicago</a>; <a href="https://theconversation.com/profiles/david-j-hardisty-753777">David J. Hardisty</a>, <a href="https://theconversation.com/institutions/university-of-british-columbia-946">University of British Columbia</a>, and <a href="https://theconversation.com/profiles/marcel-lukas-1236384">Marcel Lukas</a>, <a href="https://theconversation.com/institutions/university-of-st-andrews-1280">University of St Andrews</a> <h2>The big idea</h2> When asked to estimate how much money they would spend in the future, people underpredicted the total amount by more than C$400 per month. However, when prompted to think about unexpected spending in addition to typical expenses, people made much more accurate predictions. These are the main findings of a series of <a href="https://doi.org/10.1177%2F00222437211068025">studies and experiments that we conducted</a> and which have just been published in the <a href="https://journals.sagepub.com/home/mrj">Journal of Marketing Research</a>. In our first study, we began by asking 187 members of a Canadian credit union to predict their weekly spending for the next five weeks. Then, at the end of each week, we asked them how much they actually spent. For the first four weeks, people underpredicted their weekly spending by about $100 per week or $400 for the month. In the study’s fifth and final week, we ran an experiment to see if we could improve people’s prediction accuracy. Specifically, we randomly assigned participants to one of two groups. In group one, participants estimated their spending for the next week just as they had done in previous weeks. These folks once again significantly underpredicted their spending. In group two, participants were asked to think of three reasons why their spending for the next week might be different than usual before making their estimate. This led them to make higher and much more accurate predictions – coming within just $7 of what they actually spent. Importantly, participants in each group spent roughly the same amount of money that week, on average. The only difference between the two groups was whether they accurately predicted that amount. <iframe id="WlDv3" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/WlDv3/3/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe> Next, we conducted nine experiments to better understand why people underpredict their spending and whether being prompted to think of unusual expenses helps improve accuracy. In all, over 5,800 people participated in these experiments, including a representative sample of U.S. residents. These experiments revealed two important insights. First, people primarily base their spending predictions on typical expenses like groceries, gasoline and rent. They usually fail to account for irregular – though still common – expenses like car repairs, last-minute concert tickets or one-off health care bills. This is what leads to underprediction. Second, prompting people to think of irregular expenses in addition to typical expenses helps them to make more accurate spending predictions. In our studies, people did not factor in atypical expenses unless we asked them to do so. <h2>Why it matters</h2> Helping people improve the accuracy of their spending predictions could help them improve their financial well-being. Underpredicting expenses can be costly. For example, 12 million Americans <a href="https://www.pewtrusts.org/en/research-and-analysis/reports/2012/07/19/who-borrows-where-they-borrow-and-why">borrow a total of more than $7 billion</a> in payday loans each year because they can’t meet their monthly expenses. These loans typically have extremely high interest rates – <a href="https://www.pewtrusts.org/en/research-and-analysis/data-visualizations/2022/how-well-does-your-state-protect-payday-loan-borrowers">more than 250% in some states</a>. Payday loans also come due in full so quickly that around three in four borrowers <a href="https://www.pewtrusts.org/en/research-and-analysis/reports/2012/07/19/who-borrows-where-they-borrow-and-why">end up borrowing again</a> to pay off the original loan. If consumers could better anticipate how much money they will spend in the future, it might help motivate them to spend less and save more in the present. In fact, one of our studies shows that our suggested prediction strategy <a href="https://doi.org/10.1177/0022243721106802">not only boosted spending estimates</a>, it also increased intentions to save. <h2>What’s next</h2> Members of our research team are currently investigating if, when and why underpredicting one’s expenses may be beneficial. For example, if a person sets an optimistically low budget and actively tracks their spending against it, does that help them reduce their spending? We are also investigating whether people who work in the gig economy show a corresponding tendency to mispredict their future income.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/189100/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/ray-charles-chuck-howard-1361224">Ray Charles "Chuck" Howard</a>, Assistant Professor of Marketing, <a href="https://theconversation.com/institutions/texas-aandm-university-1672">Texas A&M University</a>; <a href="https://theconversation.com/profiles/abigail-sussman-227057">Abigail Sussman</a>, Professor of Marketing, <a href="https://theconversation.com/institutions/university-of-chicago-952">University of Chicago</a>; <a href="https://theconversation.com/profiles/david-j-hardisty-753777">David J. Hardisty</a>, Assistant Professor of Marketing & Behavioral Science, <a href="https://theconversation.com/institutions/university-of-british-columbia-946">University of British Columbia</a>, and <a href="https://theconversation.com/profiles/marcel-lukas-1236384">Marcel Lukas</a>, Lecturer in Banking and Finance, <a href="https://theconversation.com/institutions/university-of-st-andrews-1280">University of St Andrews</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/we-tend-to-underestimate-our-future-expenses-heres-one-way-to-prevent-that-189100">original article</a>. </div>

Money & Banking

Offering end of life support as part of home care is important – but may face some challenges

<div class="theconversation-article-body"> <a href="https://theconversation.com/profiles/jennifer-tieman-378102">Jennifer Tieman</a>, <a href="https://theconversation.com/institutions/flinders-university-972">Flinders University</a> Earlier this month, the government announced <a href="https://theconversation.com/the-government-has-a-new-plan-for-residential-aged-care-heres-whats-changing-238765">major changes</a> to aged care in Australia, including a A$4.3 billion <a href="https://theconversation.com/what-the-governments-home-care-changes-mean-for-ageing-australians-238890">investment in home care</a>. Alongside a shake up of home care packages, the Support at Home program will include an important addition – an <a href="https://www.health.gov.au/sites/default/files/2024-09/support-at-home-fact-sheet.pdf">end of life pathway</a> for older Australians. This pathway will allow access to a <a href="https://www.health.gov.au/our-work/support-at-home/features">higher level</a> of in-home aged care services to help Australians stay at home as they come to the end of their life. Specifically, it will provide an extra A$25,000 for palliative support when a person has three months or less left to live. This is a positive change. But there may be some challenges to implementing it. <h2>Why is this important?</h2> Older people have made clear their preference to remain in their homes as they age. For <a href="https://journals.sagepub.com/doi/10.1177/0269216313487940">most people</a>, home is where they would like to be during their last months of life. The space is personal, familiar and comforting. However, data from the <a href="https://www.abs.gov.au/statistics/research/classifying-place-death-australian-mortality-statistics">Australian Bureau of Statistics</a> shows most people who die between the ages of 65 and 84 die in hospital, while most people aged 85 and older die in residential aged care. This apparent gap may reflect a lack of appropriate services. Both palliative care services and GPs have an important role in providing medical care to people living at home with a terminal illness. However, being able to <a href="https://grattan.edu.au/wp-content/uploads/2014/09/815-dying-well.pdf">die at home</a> relies on the availability of ongoing support including hands-on care and assistance with daily living. Family members and friends often provide this support, but this is not always possible. Even when it is, carers may <a href="https://pubmed.ncbi.nlm.nih.gov/38533612/">lack confidence and skills</a> to provide the necessary care, and may not have enough support for and respite from their carer role. The palliative care funding offered within Support at Home should help an older person to remain at home and die at home, if that is their preference. Unless someone dies suddenly, care needs are likely to increase at the end of a person’s life. Supports at home may involve help with showering and toileting, assessing and addressing symptoms, developing care plans, managing medications, wound dressing, domestic tasks, preparing meals, and communicating with the person’s family. Occupational therapists and physiotherapists can assist with equipment requirements and suggest home modifications. End of life supports may also involve clarifying goals of care, contacting services such as pharmacists for medications or equipment, liaising with organisations about financial matters, respite care or funeral planning, as well as acknowledging grief and offering spiritual care. But we don’t know yet exactly what services the $25,000 will go towards. <h2>What do we know about the scheme so far?</h2> The Support at Home program, including the end of life pathway, is scheduled to start from <a href="https://www.health.gov.au/sites/default/files/2024-09/support-at-home-fact-sheet.pdf">July 1 2025</a>. We know the funding is linked to a prognosis of three months or less to live, which will be determined <a href="https://www.abc.net.au/news/2024-09-15/new-payment-aims-to-make-it-easier-for-people-to-die-at-home/104347984">by a doctor</a>. Further information has indicated that an older person can be referred to a <a href="https://www.health.gov.au/our-work/support-at-home/features">high-priority assessment</a> to access the end of life pathway. We don’t know yet what this means, however they don’t need to be an existing Support at Home participant to be eligible. The pathway will allow 16 weeks to use the funds, possibly to provide some leeway around the three-month timeline. Although more details are coming to light, there are still some things which remain unclear. Home care providers will be looking for details on what can be covered by this funding and how they will work alongside primary care providers and health-care services. Older people and their families will want to know the processes to apply for this funding and how long applications will take to be reviewed. Everyone will want to know what happens if the person doesn’t die within three months. <h2>Some challenges</h2> Ready availability of appropriate supports and services will be crucial for older people accessing this pathway. Home care providers will therefore need to assess how an end of life pathway fits into their operational activities and how they can build the necessary skills and capacity. Demand for nurses with palliative care skills and allied health professionals is likely to increase. Providing end of life care can be <a href="https://pubmed.ncbi.nlm.nih.gov/33096682/">especially taxing</a> so strategies will be needed to prevent staff burnout and encourage self-care. How pathways are implemented in rural and remote areas and in different cultural and community groups will need to be monitored to ensure all older people benefit. Effective coordination and communication between home care, primary care and specialist palliative providers care will be key. Digital health systems that connect the sectors could be helpful. Family engagement will also be very important. Escalation pathways and referral pathways should be established to enable appropriate responses to emergencies, unexpected deterioration, and family distress. Finally, <a href="https://bmcpalliatcare.biomedcentral.com/articles/10.1186/s12904-023-01155-y">accurately determining</a> when someone will die can be difficult. Knowing when the last three months of life starts may not be easy, particularly where frailty, cognitive issues and multiple health concerns may be present. This might mean some people are not seen as being ready for this pathway. Others may not be willing to accept this prognosis. An older person may also be expected to live with a terminal illness for many months or years. Their palliative care needs would not be met under this pathway. Despite these challenges, the announcement of an end of life pathway within the home care program is timely and welcome. As a population we are living longer and dying older. More details will help us be better prepared to implement this scheme.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/239296/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/jennifer-tieman-378102">Jennifer Tieman</a>, Matthew Flinders Professor and Director of the Research Centre for Palliative Care, Death and Dying, <a href="https://theconversation.com/institutions/flinders-university-972">Flinders University</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/offering-end-of-life-support-as-part-of-home-care-is-important-but-may-face-some-challenges-239296">original article</a>. </div>

Retirement Life

Transforming homes and lives: The rise of Compact Home Lifts

In an era where ageing in place has become increasingly important, homeowners are constantly looking for clever solutions to maintain their independence and comfort. Enter the game-changing alternative to traditional stairlifts: <a href="https://compactlifts.com.au/" target="_blank" rel="noopener">Compact Home Lifts</a>. These sleek and discreet elevators are revolutionising how people navigate their multi-storey homes, offering a perfect blend of functionality, style and peace of mind. For anyone considering home mobility solutions, Compact Home Lifts present a compelling case. Unlike bulky stairlifts that can radically alter the appearance of existing staircases, these lifts occupy less than a square metre of floor space, seamlessly integrating into almost any room of your house. But the real beauty lies in their versatility and minimal impact on your home's aesthetics. One of the most attractive features of these lifts is their self-supporting design. With no need for structural walls, installation is neat and non-invasive, preserving the integrity of your home. The fully contained motor and self-supporting rails ensure that the lift can be installed with minimal disruption to your daily life. Any concerns about energy consumption are quickly dispelled too when you learn that these lifts plug into a standard socket and use less power than boiling a kettle! This energy efficiency not only makes them environmentally friendly but also keeps operating costs low. <h2>Planning for the future</h2> While some homeowners may require a home lift immediately due to mobility issues, others are taking a proactive approach. By installing a Compact Home Lift, they’re future-proofing their homes, ensuring they can continue to enjoy their beloved space for years to come. This forward-thinking strategy eliminates the need for costly and emotionally taxing moves or extensive home renovations to accommodate single-floor living. <h2>Customer satisfaction and expert installation</h2> Compact Home Lifts has garnered an exceptional reputation, boasting impressive ratings from customers on Google. Their dedicated team of expert installers ensures that both homeowners and their properties are treated with the utmost care and professionalism. One satisfied customer, Kenneth S, shared his experience in August 2024, writing: “Cannot say enough good things about the team at Compact Home Lifts. They have been wonderful in every stage (including post installation). If you need a home lift, I recommend these guys.” <h2>Tailored solutions and expert advice</h2> Understanding that each home and homeowner's needs are unique, Compact Home Lifts offers personalised consultations. Their experts visit your property to help determine the optimal location for your lift and address any questions or concerns you may have. This tailored approach ensures that you receive a solution that perfectly fits your home and lifestyle. <img src="https://oversixtydev.blob.core.windows.net/media/2024/09/Article-Image-Body-3-Wheelchair-1280.jpg" alt="" width="1280" height="720" /> As Australia’s number one small home lift provider, Compact Home Lifts stands out with its rapid service, cost-effective solutions and small footprint designs. They offer a range of models, including wheelchair-accessible options, catering to diverse mobility needs. Perhaps one of the most reassuring aspects of choosing Compact Home Lifts is their commitment to quality and customer satisfaction. Each installation comes with a 7-year warranty, providing homeowners with long-term peace of mind (T&Cs apply). <h2>Embracing independence and comfort</h2> By choosing a Compact Home Lift, homeowners aren’t just investing in a mobility solution; they're investing in their future independence and quality of life. These lifts offer the freedom to move safely between floors, maintaining access to all areas of your home without the need for assistance. Compact Home Lifts represent a significant leap forward in home mobility solutions. They offer a perfect balance of functionality, aesthetics and peace of mind, allowing homeowners to continue enjoying the homes they love for years to come. As we look to the future of ageing in place, it's clear that these innovative lifts will play a crucial role in maintaining independence and enhancing the quality of life for countless individuals. For more information, watch the video below or visit the <a href="https://compactlifts.com.au/" target="_blank" rel="noopener">Compact Home Lifts</a> website. <iframe title="YouTube video player" src="https://www.youtube.com/embed/5TQEcW-lNe4?si=DonQNooUcOkadDdR" width="560" height="315" frameborder="0" allowfullscreen="allowfullscreen"></iframe> This is a sponsored article produced in partnership with Compact Home Lifts.

Home & Garden

Advertising a house is ridiculously expensive in Australia – could that be affecting the property market?

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/james-graham-1264059">James Graham</a>, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a> Australia has long been one of the <a href="https://www.forbes.com.au/news/investing/sydney-melbourne-adelaide-are-top-10-least-affordable-cities-for-housing/#:%7E:text=Demographia's%20annual%20report%20assesses%20housing,second%20place%2C%20and%20Vancouver%20third.">most expensive</a> places in the world to buy a house. Now, it’s apparently also one of the costliest places to sell one. Recent <a href="https://www.theguardian.com/australia-news/2024/sep/16/the-symbiotic-relationship-that-makes-selling-a-house-in-australia-so-damn-expensive">reporting</a> in the Guardian has raised concerns about the market dominance of Australia’s two main real estate advertising websites, realestate.com.au and Domain. Facing little competition, the largest – realestate.com.au – appears to have <a href="https://www.theguardian.com/australia-news/2024/sep/16/the-symbiotic-relationship-that-makes-selling-a-house-in-australia-so-damn-expensive">significantly increased its fees</a> in recent years, while thwarting disruptive innovations from smaller competitors. Why does that matter? Because when it comes to selling a house, Australia <a href="https://www.theguardian.com/australia-news/2024/sep/16/real-estate-website-fees-australia">stands out</a> globally. In most other countries, any advertising costs are tiny or bundled in with agent fees. Here, along with only <a href="https://www.theguardian.com/australia-news/2024/sep/16/the-symbiotic-relationship-that-makes-selling-a-house-in-australia-so-damn-expensive">Sweden and New Zealand</a>, home sellers pay their own advertising costs in addition to real estate agent fees and commissions. This advertising can be expensive – up to several thousand dollars for a single property listing. But it also seems necessary, with a lack of alternative platforms offering comparable reach. Setting aside the problems of monopolistic pricing behaviour, what are the economics of high and rising real estate advertising fees? Do home sellers get value for the money they spend on advertising? And what might be the impacts of these fees on the Australian housing market? <h2>Is advertising on big platforms worth it?</h2> First, it’s worth asking whether real estate advertising is actually effective and whether bigger platforms are better. To explore these questions, a group of US-based economists <a href="https://www.aeaweb.org/articles?id=10.1257/aer.99.5.1878">studied</a> the outcomes of advertising on a large platform favoured by real estate agents in the United States called the “multiple listing service”, compared with a smaller for-sale-by-owner platform. The study found no differences in eventual home sales prices between the two platforms. But properties on the multiple listing service were more likely to sell and spent less time on the market. However, the size of the advertising platform didn’t explain these benefits. Rather, the different platforms appealed to buyers and sellers with varying patience levels. This variation in willingness to “wait-and-see” affected the time it took to sell. Translated to the Australian context, that raises questions about the value for money of advertising on a larger platform – which here, unlike the US, attracts significant fees. <h2>Housing markets are ‘search markets’</h2> Next, we need to consider how high costs of advertising property might affect the housing market more broadly. Housing markets fall into a category called “search markets” within economics. Sellers seek buyers, and buyers seek sellers offering up properties that meet their required criteria. The economics of search markets have been extensively studied by the likes of <a href="https://www.nobelprize.org/prizes/economic-sciences/2010/summary/">Nobel laureates</a> Peter Diamond, Dale Mortensen and Christopher Pissarides. Their insights highlight the key factors that determine search market outcomes. Sellers consider the costs of listing an item for sale (such as advertising) and the time it takes to find a buyer. Buyers, on the other hand, consider their alternatives to buying (such as renting) and the time it might take to find a suitable seller. The likelihood of a sale – and how long everything will take – depends on the number of potential buyers relative to sellers. The sales price is then negotiated after meetings between the two. This gives us a framework to speculate about how Australia’s high – and increasing – costs of advertising real estate could be affecting the broader housing market on both sides of this equation. <h2>Costs can affect both supply and demand</h2> On the supply side, high fees reduce the net financial benefit of selling a home, which could discourage homeowners from listing their properties. All else being equal, this could lead to fewer properties on the market, shorter selling times, and higher prices for the properties that are listed. But we can predict some effects on the demand side, too. High fees also reduce the net benefit of buying a home, as current buyers expect to be sellers in the future. These costs are likely to be even more pronounced for property investors, who buy and sell property more frequently than homeowners. Anticipation that selling costs will be high in the future could suppress the demand for housing, reducing prices and increasing the time it takes to sell a property. Interestingly, <a href="https://www.nber.org/papers/w32855">recent research</a> from the US suggests that these demand-side effects might outweigh the supply-side effects. Economists studied the impact of a series of court decisions that forced the National Association of Realtors to reduce real estate agent fees. They found lower fees increase the lifetime benefits of homeownership, which leads to a significant increase in house prices. Significantly, that suggests lowering the costs of selling property – including advertising – could increase property values. <h2>Just one part of the housing story</h2> High prices in any area of economic life are likely to rankle our sense of a fair deal. High fees for advertising real estate have an obvious immediate impact on a home seller’s wallet. But the nuanced flow-on effects to the broader housing market are harder to tease out. They are also likely to vary across different property markets within Australia. Commentators and policy makers should think carefully before leaping into action in this area. In the meantime, advertising fees are one more thing to keep an eye on as Australian housing costs continue to rise.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/239111/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/james-graham-1264059">James Graham</a>, Senior Lecturer in Economics, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/advertising-a-house-is-ridiculously-expensive-in-australia-could-that-be-affecting-the-property-market-239111">original article</a>. </div>

Money & Banking

Readers response: What is the most expensive place you've visited?

When it comes to travelling, there are some destinations around the world that are definitely more expensive than others. We asked our readers which place left them the most out of pocket, and the response was overwhelming. Here's what they said. Angela Budden - Switzerland for sure. Vera Hunt - Italy, but it's a beautiful place so worth every cent. Pat Isaacs - Probably London, back in 2011. Such a contrast to Bali, in 2013. Had two weeks there, total cost was under $1600, including air fare, accommodation, food etc. Just the air fare to London was more than the total cost of my time in Bali. Eileen Dunford - The Amalfi Coast. Roz Harris - Ashford Castle in Ireland, but I would give anything to go back again and stay for longer. Valerie Southam - Iceland and Finland. Peter Connolly - I think Qatar, although the Netherlands wasn't that far behind. Marirose Piciucco - Tahiti and Copenhagen. Maree Newhouse - Iceland, I just came back from there. $48 for a bowl of lamb soup and $52 for a hamburger! Gail Ladds - Positano in Italy. Cost me $25 for a milkshake about $7 years ago. It was the cost of the view I think. Kevin Chapman - Hawaii, but worth every penny. Peter Brady - Everywhere in the US given the lousy exchange rate, the plethora of additional government taxes, and the mandatory 20% tip. Chaz Maree - Scandinavian countries are very expensive to visit but so beautiful, so who cares. Catherine Cotterell - Venice, where the traders sting you as fiercely as the mosquitos. Image credits: Shutterstock

Travel Trouble

Young homeowners are more likely to use their home as an ‘ATM’ than their Boomer parents. Here’s why

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/rachel-ong-viforj-113482">Rachel Ong ViforJ</a>, <a href="https://theconversation.com/institutions/curtin-university-873">Curtin University</a> and <a href="https://theconversation.com/profiles/christopher-phelps-378137">Christopher Phelps</a>, <a href="https://theconversation.com/institutions/curtin-university-873">Curtin University</a> For many Australians, the family home is their largest financial asset. With an increasing variety of ways to tap into home equity, the temptation to access this wealth is ever growing. Homeowners increase the debt owed on their home when they borrow against their <a href="https://doi.org/10.1080/02673037.2013.783202">equity</a>. Standard mortgage home loans now provide facilities for relatively cheap or free withdrawals of equity from the home. This turns the <a href="https://theconversation.com/your-home-as-an-atm-home-equity-a-risky-welfare-tool-22000">home into an ATM</a>, which borrowers can access when they choose. Our new <a href="https://doi.org/10.1080/02673037.2024.2400158">study</a> asks what motivates Australians to tap into their home equity, and how does this behaviour change with age? Surprisingly, despite having much lower housing equity levels, younger homeowners borrow often, and borrow more, than their Boomer parents. <h2>How common is equity borrowing?</h2> Using 15 years of data from the government-funded <a href="https://melbourneinstitute.unimelb.edu.au/hilda">Household, Income and Labour Dynamics in Australia </a>(HILDA) survey, we tracked the mortgage debt and repayments of homeowners aged 35 and over. The chart below shows younger owners are far more likely to engage in equity borrowing. In 2006, nearly 39% of the youngest homeowners, aged 35–44, borrowed against their home equity. By 2021, this number had dropped to 29%. Despite the decline, it’s still 24 percentage points more common than those aged 65 and over. The older group has remained steady at about 5% over the years. <hr /> <iframe id="Ll9Cw" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/Ll9Cw/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe> <hr /> <h2>How much do equity borrowers withdraw from their home?</h2> Among those who use their home like an ATM, younger borrowers now withdraw larger amounts than older borrowers. In 2006–07, equity borrowers aged 35–44 and 45–54 withdrew on average $43,000 and $57,000, respectively (expressed in real values set at 2022 price levels). By 2021, the amount withdrawn by these two age groups had climbed to $70,000 and $100,000. On the other hand, the amount withdrawn by borrowers aged 55 or older fell from more than $50,000 to less than $40,000. <hr /> <iframe id="ujq3S" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/ujq3S/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe> <hr /> <h2>What motivates equity borrowing?</h2> Young homeowners’ equity borrowing behaviours are sensitive to changes in house prices and debt values, and their financial risk preferences. Among those aged 35–44, a $10,000 increase in the primary home value raises the likelihood of equity borrowing by ten percentage points. Every $10,000 in debt against the primary home reduces the likelihood by 2.8% percentage points. Those willing to take substantial financial risk are eight percentage points more likely to borrow against their home than those who are risk-averse. Those aged 65+ are not inclined to borrow, and exhibit little change in equity borrowing behaviour with variations in asset, debt, income or financial risk preferences. <h2>Why borrowing practices differ between age groups</h2> As well as being more likely than older homeowners to borrow against equity, the younger group also withdraws higher amounts than their Boomer parents. This is despite younger borrowers already carrying much higher debt against their primary home. Among those in our study who engaged in equity borrowing in 2021, the median debt before borrowing was $401,000 for 35-44 year-olds compared to $0 for those aged 65+. As real house prices have risen over decades, the current generation of young homeowners has had to invest more money into purchasing their first home than previous generations. It’s therefore not surprising the primary home is now widely viewed as a financial resource to be <a href="https://theconversation.com/your-home-as-an-atm-home-equity-a-risky-welfare-tool-22000">tapped into to meet spending needs</a>. On the other hand, most Baby Boomers bought their first home at more affordable prices than their children, and at lower levels of debt. Now they don’t appear to be spending their kids’ inheritance by drawing down housing wealth. In fact, older parents may shy away from equity borrowing to <a href="https://www.pc.gov.au/research/completed/wealth-transfers/wealth-transfers.pdf">bequeath wealth to children</a>. Some also <a href="https://doi.org/10.1017/S0047279417000058">dislike passing debt</a> on to their children. Older people may also avoid equity borrowing due to concerns about <a href="https://treasury.gov.au/sites/default/files/2023-08/p2023-435150.pdf">aged care costs</a>. Some may be hampered by <a href="https://doi.org/10.1016/j.jue.2013.08.003">poor financial literacy</a>. <h2>More debt ahead without policy changes</h2> Present trends suggest young homeowners will remain indebted for longer periods, and more and more will <a href="https://theconversation.com/more-of-us-are-retiring-with-mortgage-debts-the-implications-are-huge-115134">retire with mortgage debt</a>. For indebted retirees, there are real prospects of <a href="https://theconversation.com/fall-in-ageing-australians-home-ownership-rates-looms-as-seismic-shock-for-housing-policy-120651">drawing down of superannuation</a> to pay off mortgages in retirement. This may impose extra burdens on the age pension system. Another unwelcome consequence, which may add to health costs, is the prospect of <a href="https://www.ahuri.edu.au/sites/default/files/migration/documents/AHURI-Final-Report-319-Mortgage-stress-and-precarious-home-ownership-implications-for-older-Australians.pdf">debt-related psychological distress</a> among those who can’t pay off their mortgage in old age. If the current trends continue, the <a href="https://www.afr.com/policy/economy/what-happens-when-australia-s-boomers-hand-5-trillion-to-their-heirs-20240515-p5jdvf">great wealth transfer</a> that has already begun looks set to <a href="https://theconversation.com/not-everyone-wins-from-the-bank-of-mum-and-dad-73842">further entrench inequality</a> between those who have access to the bank of mum and dad and those who do not. Encouraging older people to use their housing equity to fund their needs in old age may lighten fiscal burdens on younger generations. But policy reforms will be needed to relieve concerns about the risks of equity borrowing in old age.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/238924/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/rachel-ong-viforj-113482">Rachel Ong ViforJ</a>, ARC Future Fellow & Professor of Economics, <a href="https://theconversation.com/institutions/curtin-university-873">Curtin University</a> and <a href="https://theconversation.com/profiles/christopher-phelps-378137">Christopher Phelps</a>, Research Fellow, School of Accounting, Economics and Finance, <a href="https://theconversation.com/institutions/curtin-university-873">Curtin University</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/young-homeowners-are-more-likely-to-use-their-home-as-an-atm-than-their-boomer-parents-heres-why-238924">original article</a>. </div>

Money & Banking

What the government’s home care changes mean for ageing Australians

<div class="theconversation-article-body"> <a href="https://theconversation.com/profiles/tracy-comans-696663">Tracy Comans</a>, <a href="https://theconversation.com/institutions/the-university-of-queensland-805">The University of Queensland</a> and <a href="https://theconversation.com/profiles/frances-batchelor-2209350">Frances Batchelor</a>, <a href="https://theconversation.com/institutions/the-university-of-melbourne-722">The University of Melbourne</a> The Albanese government has this week announced it will introduce one of the <a href="https://www.health.gov.au/ministers/the-hon-anika-wells-mp/media/once-in-a-generation-aged-care-reforms">largest reforms</a> to Australia’s aged-care sector to date. The package includes a A$4.3 billion investment in home care, now called “<a href="https://www.health.gov.au/our-work/support-at-home">Support at Home</a>”, to come into effect from July 2025. This reflects both the desire of many people to remain living at home as they age, and the government’s desire to reduce the costs of residential aged care. So what changes is the government making to home care packages? And what will these changes mean for ageing Australians? <h2>Reducing waiting times</h2> One of the major complaints about the current home care system is the long waiting times. Estimates suggest there’s a <a href="https://www.gen-agedcaredata.gov.au/getmedia/447b425c-63d6-4b96-a1fc-4dac805066ba/Home-Care-Packages-Program-data-report-1-January-%E2%80%93-31-March-2024">6–to-12-month wait</a> for the higher level 3 and 4 home care packages. For people with the highest needs, this is far too long. As of March this year, around <a href="https://www.gen-agedcaredata.gov.au/getmedia/447b425c-63d6-4b96-a1fc-4dac805066ba/Home-Care-Packages-Program-data-report-1-January-%E2%80%93-31-March-2024">45,000 people</a> were waiting for any level of home care. An additional 14,000 were already receiving a package, but on a lower level of home care than they were entitled to. With additional funding, the new system will <a href="https://www.health.gov.au/ministers/the-hon-anika-wells-mp/media/once-in-a-generation-aged-care-reforms">support more participants</a>. It aims to shorten wait times to <a href="https://www.health.gov.au/sites/default/files/2024-09/support-at-home-fact-sheet.pdf">an average of three months</a> from July 2027. <h2>Changes to services</h2> The new system will replace the current four levels of home care packages with <a href="https://www.health.gov.au/ministers/the-hon-anika-wells-mp/media/once-in-a-generation-aged-care-reforms">eight classifications</a> of funding for services. When participants are assessed, they will be assigned the most suitable category. There’s currently very limited information on what these classifications are, but the idea is they will provide more targeted services. A number of short-term supports will also be available. These include assistive technology (such as mobility aids) and home modifications. Some people will be able to access 12 weeks of restorative care – a more intensive program designed to build function after injury or illness – as well as palliative care support. The way different types of services are subsidised is also changing. Previously, the same means-tested co-contribution applied regardless of the type of service. Under the new system, services are categorised into clinical care (for example, physiotherapy or wound care), independence (such as help with bathing or cooking) and everyday living (for example, gardening or home maintenance). The new reforms fully subsidise clinical services regardless of income, whereas independence and everyday living services will attract co-contributions based on means testing. For example, <a href="https://www.health.gov.au/sites/default/files/2024-09/case-studies-support-at-home.pdf">a self-funded retiree</a> would pay nothing out of pocket for physiotherapy, but would pay 50% for help with showering and 80% towards gardening costs. A full pensioner would also pay nothing for physiotherapy, but pay 5% for help with showering and 17.5% of the cost of gardening. This is a positive change. Our research has previously highlighted a tendency for people with home care packages to choose everyday living services <a href="https://onlinelibrary.wiley.com/doi/full/10.1155/2023/4157055">such as gardening</a> and cleaning and refuse clinical care such as allied health and nursing as these types of services were more expensive. These changes should make older people more likely to choose allied health and clinical care services, which will help them maintain their function and stay fitter for longer. <h2>Some challenges</h2> For the government’s reforms to deliver faster and better support at home, a number of issues need to be addressed. As people stay at home for longer, we also see that these <a href="https://academic.oup.com/ageing/article/52/5/afad058/7147101">people are frailer</a> and have more health conditions than in the past. This requires a different and more highly skilled home care workforce. The current <a href="https://www.health.gov.au/sites/default/files/documents/2021/10/2020-aged-care-workforce-census.pdf">home care workforce</a> consists largely of personal care and domestic support workers alongside a much smaller skilled workforce of registered nurses and allied health professionals. But with the changing profile of people receiving care at home, there will need to be a greater focus on maintaining functional capacity. This might mean more allied health input will be required, such as from physiotherapists and occupational therapists. It’s difficult to source an appropriately skilled workforce across the sector, and almost impossible in <a href="https://www.ruralhealth.org.au/sites/default/files/publications/fact-sheet-allied-health.pdf">rural and remote areas</a>. Alternative models, such as training personal care workers to act as allied health assistants, and effectively using technology such as telehealth, will be necessary to meet demand without compromising on quality of care. One example of the need for upskilling in specific areas relates to caring for people with dementia. The majority of people who are living with dementia at home receive care from family carers, supported by home care workers. It’s vital that these care workers have adequate knowledge and skills specific to dementia. However, research has shown the home care workforce may <a href="https://pubmed.ncbi.nlm.nih.gov/31646701/">lack the knowledge and skills</a> to provide best-practice care for people living with dementia. Specialised <a href="https://onlinelibrary.wiley.com/doi/10.1002/gps.6140">dementia training</a> for home care workers is effective in improving knowledge, attitudes and sense of competence in providing care. It should be rolled out across the sector. <h2>What about unpaid care at home?</h2> Unpaid carers, such as family members, provide <a href="https://www.pmc.gov.au/resources/draft-national-strategy-care-and-support-economy/goal-1-quality-care-and-support/support-for-informal-carers">significant amounts of care</a> for older people. The value of this unpaid care is estimated to be in the billions. As older people stay at home for longer, this is set to increase even further. However, carers with high care burdens are particularly vulnerable to <a href="https://www.sciencedirect.com/science/article/pii/S2352827316300283#s0025">poor physical and mental health</a>. Without adequate support, we may find extra caring pressures lead to a breakdown in caring relationships and an increase in other health-care costs for both the carer and care recipient. So we need to ensure carers have adequate financial, psychological and practical support. But the currently available detail on the reforms doesn’t indicate this has been adequately addressed. With careful implementation and ongoing evaluation, these reforms have the potential to significantly enhance the home care system. However, their success will depend on addressing workforce challenges, ensuring adequate support for unpaid carers, and maintaining a focus on the holistic needs of older Australians. More information about Support at Home is <a href="https://www.health.gov.au/our-work/support-at-home/about">available online</a>.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/238890/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/tracy-comans-696663">Tracy Comans</a>, Executive Director, National Ageing Research Institute; Professor, Centre for Health Services Research, <a href="https://theconversation.com/institutions/the-university-of-queensland-805">The University of Queensland</a> and <a href="https://theconversation.com/profiles/frances-batchelor-2209350">Frances Batchelor</a>, Director Clinical Gerontology & Senior Principal Research Fellow, National Ageing Research Institute, <a href="https://theconversation.com/institutions/the-university-of-melbourne-722">The University of Melbourne</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/what-the-governments-home-care-changes-mean-for-ageing-australians-238890">original article</a>. </div>

Legal

Mother arrested after two boys found dead in Blue Mountains home

A mother has been arrested after the tragic discovery of her two sons, aged nine and 11, dead at their home in the Blue Mountains, New South Wales. The boys, Russell and Ben, were found by their father at the family's home in Faulconbridge shortly before 12:40pm. Their mother, Trish Smith, 42, was also found at the scene with several self-inflicted injuries. She has been taken to Westmead Hospital and is in a stable condition. No charges have been laid so far. Superintendent John Nelson of the Blue Mountains police confirmed that Mr Smith, the father, discovered the bodies and contacted authorities. "The father is helping us with inquiries, and he was the one who contacted police... all avenues are open for investigation," Nelson stated. While the police have not confirmed whether a weapon was involved, they are working to understand the sequence of events leading to the boys' deaths. The family, who had no prior history of domestic violence and minimal contact with the police, has left the community in shock. Superintendent Nelson said that the investigation is still in its early stages, and no speculation will be made at this time. The boys had attended school on Monday with no apparent issues, and authorities are now trying to trace their movements on Tuesday to piece together what might have happened. The nearby Springwood High School was involved in the emergency response as its oval was used as a helipad for medical evacuations. Homicide detectives from the State Crime Command have been assigned to the case, and police are continuing to speak with neighbours to uncover any possible motives. Blue Mountains Mayor Mark Greenhill expressed the community’s grief in a statement: "Our community has lost two precious souls in the most awful circumstances. Now is a time to come together and remember these two beautiful children." NSW Police Commissioner Karen Webb acknowledged the profound emotional toll the incident has had on law enforcement officers. "I think the older and more experience you get in this job, things like this still cut to the core. It’s a tragic situation," she said. Authorities have confirmed that no one else is being sought in connection with the deaths, and there is no ongoing threat to the community. The investigation continues as police work to understand the full circumstances surrounding this heartbreaking incident. Need to talk to someone? Don't go it alone. Call Lifeline on 13 11 14 or visit lifeline.org.au Beyond Blue: 1300 224 636 SANE: 1800 187 263; saneforums.org Image: Supplied

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