Aug 16, 2021
In a time of lockdowns, thinking 40 hours ahead is sometimes a challenge.
Now try thinking 40 years ahead.
Well, that’s what the Federal Government has done when it recently released its fifth Intergenerational Report.
It has taken a 40-year view on where we’ll be in 2061 and forecasts that Australia will be older, smaller and more in debt than previous Intergenerational reports suggested.
Predicting anything 40 years out is a challenge. But predicting what will happen to something as unpredictable as our economy, and the budget settings it generates, requires the most adept of crystal balls.
And as with any such exercise, the predictions are completely meaningless without understanding the assumptions upon which they are based, so today I unpack this report in my regular chat with leading demographer Simon Kuestenmacher and ask him what do the findings mean for our economy and our property markets.
What’s ahead for Australia?
Our property markets don’t work in isolation – they’re driven by our demographic changes and according to the latest Intergenerational Report in 40 years’ time Australia will be smaller and older than previously expected after the first downward revision of official projections in an intergenerational report in 20 years.
Resources:
Simon Kuestenmacher - Director of Research at The Demographics Group
As our markets move forward why not get the team at Metropole to build you a personalised Strategic Property Plan – this will help both beginning and experienced investors.
Get a bundle of eBooks and reports www.PodcastBonus.com.au
Shownotes plus more here: Should we be scared by the forecasts of the 2021 Intergenerational report? With Simon Kuestenmacher
Some of our favourite quotes from the show:
“In the next 40 years, our population will increase by 13.3 million they’re saying. In other words, increase by over 50%.” – Michael Yardney
“Some people would also say another way is to import these higher-skilled people from overseas.” –Michael Yardney
“There’s a long list of people who’d rather complain than actually do something about it.” – Michael Yardney
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