Hello all,
My question is to you all “do you think there will be an investment shift coming?”
For that I mean we now have approximately 120,000 people per year retiring called the baby boomers born from 1946.
I read 73% of retirees live at home with no mortgage and no savings struggling on the pension.
Many old baby boomers are still fit and very active well into their seventies.
Today the typical BB home is well located close to our CBDs and are ripe for knock down rebuilds.
There is a so called shortage of new properties and then there is 120k people retiring … should we be investing for young people to rent or old people to downsize?
Or any other variations in your opinion …….
Philip Sigglekow
LREA authotDepends on the area.
Yarra Valley in Victoria is a prime example of where retirees are living in large family homes (3×1) on large blocks and there is a distinct lack of different housing. The shire has limited building for the last 10-15 leading to a complete lack of smaller units and homes to accomodate the large number of people whole will either tree-change there or who have lived there and need smaller housing as they get older.
The housing strategy that they have put together on the Yarra Ranges Website shows a distinct lack of smaller townhouses and units in areas where people wish to live and retire.
Development is going gangbusters there as planners try to get adequate housing happening now. Boomers are independent and grew up in times where people went into institutions because they were sick or dying or mentally ill. I don't think large numbers of boomers will flock to live in retirement villages that are glorified 'old people homes' Rather they will try and stay as close to the kids as possible in the same area and if there is nothing smaller they will stay in their house.
This leaves you and me wondering why there is nothing for sale and watching elderly people walking with difficulty into older style, large houses with stairs and no rails.
Just my two cents there.
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
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