New Zealand based property expert Joe Wilkes and I discuss the latest insights, with specific reference to the Kiwi market.
Are Baby Boomers in for a rude shock?
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– There is certainly a problem with the Baby boomers. But I would describe this problem from a different angle.
– The Baby boomers have build up a lot of wealth in the homes/houses/property they own. They were able to do that because had a stable job and a stable income.
– But the people who were born after 1980, 1990 and say 2000 have – in general – less job security and a less stable income. And there is the problem. To whom is a baby boomer supposed to sell his/her property when the later generations don’t have the income and the wealth to buy those properties ?