[Podcast] Property success principles that stand still when everything else moves

What will life be like in 10 years?

Strategic property investors think in 10-year time frames,  they don’t worry about what’s going to happen to interest rates or the economy in the next six weeks or the next six months.

In my mind, 10 years is a short term and the successful investors I know ponder about what the housing markets will be like in 20 to 30 years.

We are living through times of rapid change, but most of us don’t like change. It makes us feel uncomfortable.

We like a level of certainty about our future, health, and jobs, as well as about the worlds of finance and property that most of us are interested in.

But there are history lessons that can provide us with valuable insights.

In today’s episode, I’d like to talk about some of the things that never change in a world that never stops changing.

Successful investors and businesspeople need to be prepared for change but also understand the things that don’t change.

Hopefully, by the end of today’s show, you’ll come out with some ideas about how to get some more certainty in these uncertain times.

Laying the foundation for investment success in uncertain times

In this episode, talk to you about the importance of long-term thinking and maintaining a positive mindset to succeed in property investment, debunking the myths of a constantly alarming media landscape.

I cover Australia's property market, exploring the things that are going to change and the things that are going to stay the same for now.

• How long-term thinking in property investment impacts your ability for stability and success.
• The effects of optimism on decision-making and achieving positive outcomes.
• The existence of periodic disruptive “black swan” events
• The cyclical nature of economic booms and downturns in the Australian property market
• The things that won’t change:
  • The population will keep growing
  • Australians will keep aspiring to home ownership
  • New dwellings will need to be built
  • Infrastructure will be under pressure and roads will be congested
  • The property cycle will continue to boom and bust
  • Australians will continue to invest in property
• Changes that are coming:
  • Interest rates will drop eventually, but not right now and not to pre-COVID levels
  • There will be periods of strong rental growth until the housing shortage is under control
  • Despite the desire of Australians to own their homes, home ownership will likely drop as it becomes more difficult
  • There will be more multigenerational households
  • Living will become higher-density and more urbanized
  • There will be a large transfer of wealth as Baby Boomers die off
  • AI will eliminate many familiar jobs
  • There will be new technology that we can’t imagine now

Whether you're an experienced investor or new to the world of real estate, these insights aim to equip you with the knowledge to thrive in any market condition and lead a prosperous life.

Links and Resources:

Michael Yardney

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Some of our favourite quotes from the show:

“Over the years, I've found that those with an optimistic outlook do much better in life, in business, and in the investments, while those with a pessimistic outlook tend to be worried and find what they're looking for.” – Michael Yardney

“I think we're going to stay with a period of higher interest rates for longer. They're going to drop eventually, but not to the levels we had during COVID and even before COVID, where they were allowed to be on the stimulatory side.” – Michael Yardney

“When things happen in life, things that we don't like, we either choose to see them as a problem or as a solution waiting to be discovered.” – Michael Yardney

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