[Podcast] From Boomers to Zoomers: Simon Kuestenmacher’s Analysis of Decadal Shifts in Property

I’ve often said that demographic changes will be more important in shaping our property markets in the medium to long term than the ups and downs of interest rates or the vagaries of our economy, so I am pleased to have leading demographer Simon Kuestenmacher back on the show.

Simon is a co-founder of The Demographics Group and a master in interpreting data and trends to forecast how societies evolve, and his insights are pivotal for anyone interested in property, lifestyle changes, and investment strategies.

Today, we talk about what's ahead over the next 10 years and how each generation will experience the year 2033.

Together, we'll delve into demographic shifts, technological influences on living spaces, and the impact of economic policies on housing trends.

Generational Shifts in Real Estate

From the retirement of baby boomers to the rising generation of millennials and the impact of climate migration, Simon and I discussed several topics that influence property markets and investment strategies.

Our conversation also touches on the future of work and how it is affecting where people choose to live.

• The two big movements over the next decade:
  • Baby Boomers retiring
  • Changes due to climate change
• The retirement of baby boomers is set to revolutionize retirement living and aged care
  • Overall, baby boomers want to stay in their homes as they age, not move into retirement or care homes.
  • The expected downsizing trend among baby boomers may not be as imminent as some think
• Climate change driving migration patterns, with a focus on Europe and Australia's position
  • As some areas of the world become unlivable or undesirable due to climate change, more migration will occur.
• As Australia increases in population by as much as 3 million in the next decade or so, infrastructure and water management will be challenging.
• Generation X facing challenges of supporting children, aging parents, and mortgage stress.
• Millennials make up the biggest chunk of the workforce currently.
• As Millennials have children, they need bigger houses, but there isn’t enough stock
  • The growing preference for townhouses among millennials is a compromise housing solution.
• Gen Z tends toward pessimism, but they still have a decade or more until they’re in the market for houses, so their outlook is brighter.
• The transition from remote to hybrid work models post-pandemic and its effects on real estate

The episode serves as a guide for anyone interested in understanding and capitalizing on the demographic changes affecting property.

Whether you're an investor, businessperson, or simply curious about societal trends, the insights offered by Simon Kuestenmacher will help you stay informed and prepared for the evolving property landscape.

Links and Resources:

Michael Yardney

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Simon Kuestenmacher – Director, The Demographics Group

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Join Simon and me at Wealth Retreat – www.WealthRetreat.com.au

Some of our favourite quotes from the show:

“But while some people are saying too many people and it's a bleak future, I believe you think our economy is going to be able to support a very large, increasing population.” – Michael Yardney

“There seems to be an increasing want to live in townhouses, which is a good compromise of large accommodation on a more compact block.” – Michael Yardney

“Falling inwards is the place where you go to explore your deepest self, a place where you leave your ego behind and have crucial conversations on how much longer you're willing to tolerate the pain.” –Michael Yardney

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