Are Baby Boomers Holding Back the Property Market? With Simon Kuestenmacher

In today's show, Simon Küstenmacher and I discuss the dynamics of our property markets, with a particular focus on the trend of downsizing among baby boomers.

We examine the emotional and financial factors that influence this demographic's decision-making, the impact of government policies on the housing market, and the implications for younger generations seeking family homes.

Simon mentions the need for better housing options and incentives to facilitate downsizing, ultimately aiming to create a more sustainable housing market.

Takeaways

· Baby boomers are hesitant to downsize due to emotional attachments.

· Downsizing can provide financial freedom and reduce stress.

· Government policies can incentivize downsizing through tax reforms.

· Emotional attachments to family homes complicate downsizing decisions.

· Financial disincentives like stamp duty hinder downsizing.

· Younger generations are affected by baby boomers not downsizing.

· Demographic trends shape the future of housing markets.

· Rethinking housing options is crucial for supporting aging populations.

· Real fortunes in property are made before the boom.

· Luck rewards the prepared investor.

Chapters

00:00 - Baby Boomers Hold Onto Big Homes

02:09 - Downsizing Trend Overstated in Australia

05:18 - Emotional Ties Block Downsizing Decisions

10:43 - Financial Disincentives: Stamp Duty and Pensions

16:32 - Wealth Concentration Among Baby Boomers

24:46 - Policy Fixes: Kill the Stamp Duty to Unlock Moves

Links and Resources:

Answer this week's trivia question here- www.PropertyTrivia.com.au

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· Every entry receives a copy of a fully updated Michael Yardney Property Report

Michael Yardney

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Simon Kuestenmacher: Australia's leading demographer and partner in the Demographics Group

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