Dec 30, 2019
Depending upon when you’re listening to this, it’s either just about to become a new year, or you’re already into a new year and a new decade.
Today, I’m going to discuss twelve things that are going to change over the next decade and ten things that are not.
This is the end of my fifth decade investing in property and being able to look back and see what’s gone on gives me some great perspective on what’s ahead.
I’ve done a lot of research for this, and whether you’re interested in property as an investor or a homebuyer, you’ll get a lot out of today’s episode.
The difference between Expectations and Forecasts
There is a huge difference between, “I expect another next property downturn sometime in the next decade” and “I expect the next property downturn in the second half of 2024.”
One of the big differences is how I invest.
If I expect another property boom followed by another property bust, I’m not surprised when they come.
But since I don’t know when they’ll come, I won’t make the focus of my property investing trying to time the property cycle.
Because trying to time the property cycle is one of the reasons many property investors fail.
On the other hand, strategic investors maximise their profits during booms and minimise their downside during busts by investing in assets that have always outperformed, rather than looking for the next hot spot or for the type of property strategy that works “now” rather than one that has worked in the long term.
They own investment-grade assets
in investment-grade inner and middle ring suburbs of Australia’s
three big capital cities. The type of property that keeps growing
in value over time without fluctuating wildly in price when the
property cycle slows down.
What will stay the same:
What will be different:
Links and Resources:
Metropole Property Strategists
Brett Warren, Director Metropole Properties Brisbane
Sow notes plus more here: A dozen things that will change in property over the next decade and 10 things that will stay the same
Some of our favourite quotes from the show:
“In my mind, there’s a big difference between expectations and a forecast.” – Michael Yardney
“I’ve found it’s more practical to have expectations without forecasts.” – Michael Yardney
“The rich are getting richer, and that’s because they own assets. So even though their incomes haven’t gone up, their assets have increased in value.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how