Most of us have accepted the situation we’re in.
We’re adapting to a new normal.
The bulk of the world is in official or unofficial lockdown, we’re taking the threat seriously, and we’re seeing unprecedented government support.
We’re reminded of the importance of family and friends.
We’re locked in with them or keeping in touch with them virtually.
What else has become clear is that we’re all equal.
This virus doesn’t discriminate between background, education, religion, or political affiliation, or net worth.
This crisis has revealed that there are no real global borders.
We’re all connected, and this virus doesn’t need a visa.
Today, I’ll be talking with leading demographer Simon Kuestenmacher, Director of Research at The Demographics Group, and a columnist with The Australian who is globally recognized as a rising star in the field of data management and insight and a regular guest here on my podcast, about his research into coronavirus, who it’s going to hit the hardest, and what to watch out for.
Some of the topics we discuss:
The virus seems to have made an early beeline for the more well-to-do suburbs of our capital cities. Why has this happened?
Everyone can be attacked. The virus doesn’t discriminate. But because this is a virus that came from overseas, people who travel overseas are likely to be impacted first – and that means more well-to-do Australians.
Where is the largest concentration of our aged population?
In lieu of medical data, because we don’t have much of that, we can look at demographic data to see where the people who are most at risk live. Tasmania and South Australia are the two oldest states and have the bulk of the older population of Australia.
Will the virus be contained in our capital cities, or will it spread to the less densely populated regional town centers?
It will most certainly spread. Two-thirds of the Australian population lives in just 5 cities. The virus entered through our ports and airports spreads in the capital cities and will spread out from there.
Currently, our main defense is social distancing. How will Australia’s low-density suburban sprawl make us different from the more densely packed residents of the Chinese and Italian cities?
Our low density in this particular aspect is a gift. It’s easier to stay sane in a 3-bedroom house with a garden than a 1-bedroom apartment. For mental health, we’re in a good situation. But we do have Wuhan-esque conditions at least in some parts of our country.
Australia’s workforce comprises 13,100,000 full-time and part-time employees. How will various workers in different industries be affected?
Hospitality is a fragile sector because it relies on people being out and about. Lots of workers are young or temporary workers from overseas. This is connected to property, because those workers tend to also be renters.
Links and Resources:
Simon Kuestenmacher - Director of Research at The Demographics Group
In these challenging time why not get the team at Metropole to build you a personalised Strategic Property Plan – this will help both beginning and experienced investors.
Some of our favourite quotes from the show:
“I think at some stage, the desire to move forward is going to overcome our fears.” – Michael Yardney
“A fuzzy future has little pulling power.” – Michael Yardney
“You’ve got to be a dreamer. You’ve got to have a great vision of your future.” – Michael Yardney
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