Property... A Young Man's Game?

Property... A Young Man's Game?
An Editorial By Phil Anderson • Tuesday November 29th

 

If you do not own a home by the time you are 45, you probably never will. This is the conclusion from an alarming new study stating that the next generation of retirees may facing an “impoverished” scenario unless they have some property under their belts.

The report, done by Swinburne University, has predicted a worrisome scenario for the next generation of retirees, particularly for those who do not have some kind of ownership of property prior to the ages of 45 – 50.

Typically, Australian Real Estate has always been the bedrock on which “every day Aussies” have built their wealth upon. However, if the current generation of renters (who some have dubbed “Generation R”) do not control some kind of property before they hit their mid 40’s, this very same market may turn into a “source of impoverishment” where they will become more vulnerable to changes in economic conditions, and unforeseen changes in their lives (divorce etc).

There’s no doubt that entering the property market for the first time can be a significant challenge no matter what stage of your life you are currently in. But the good news is that most challenges also have solutions, and provided you are selecting the right properties in the right areas you can rest at night knowing you’ve put yourself in the best position possible.

My latest report outlines some of the latest data I am seeing that could leave many investors with their pants down. A free download that is a must for home owners, and investors.

As we all know we are currently living in an aging population, with the percentage of aged persons in Australia set to continue to increase in the coming years. Unfortunately, what will decrease at the same time will be the number of households possessing any real wealth and security through the mechanism of property.retirement

As we get older, it will be harder to enter the property market for the first time. This may cause a fall in home ownership across this great country of ours, with less Australians being able to rely on a growing asset base as retirement inevitably draws closer.

Housing is probably the key way of generating wealth, but people who are unable to purchase or fall out of home ownership will find that they don’t have as much wealth in retirement.

If they can’t break out of it early on, they’re going to be trapped in that cycle.

For this reason we believe it’s our obligation to hold regular seminars informing property owners and investors of the changes in market conditions. As I mentioned earlier, my latest report is part of this obligation, and you may be suprised with what my team and I uncovered in our latest round of research. For some of the most up to date property market information, download this free report here.

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