The Silver Tsunami: How Our Aging Population is Shaping Our Economy and the Property Markets

In this episode, we dive into a topic that affects all of us eventually: getting older.

Today, we explore how Australia’s aging population will shape our future and our housing markets.

Australia’s demographics are shifting, and one of the most significant trends is the rapid increase in our elderly population.

This demographic change will have profound implications on everything from housing demand to the workforce, especially in the aged-care sector.

Simon has been studying and writing extensively about how population shifts affect everything from healthcare to housing, and in our conversation today, you’ll hear his insights on how our growing elderly population is putting a strain on aged care services and the property markets.

Navigating Australia’s Aging Population

From impacts on the housing market and aged care sector to the economic and social consequences, the episode covers a range of topics essential for understanding how an aging society will shape Australia’s future.

• How Australia’s aging population will impact the housing market and aged care sector
• The cultural reluctance to downsize and its effect on aged care facilities and retirement villages
• The need for a dramatic increase in the aged care workforce and the challenges involved
• The role of artificial intelligence and robotics in transforming aged care, especially administrative tasks and workflow streamlining
• Importance of home modifications and wearable technology in helping the elderly maintain independence
• Broader societal impacts on healthcare
• The necessity of sustained migration to support the workforce
• Economic implications of an aging society, particularly in sectors like tourism and luxury consumption
• Influence of baby boomers on market trends and the significance of the great wealth transfer for younger generations
• Importance of government policies adapting to support aged care and mental health

This episode offers a comprehensive look at the challenges and opportunities presented by an aging population. Today’s conversation provides valuable insights that can help listeners better navigate the future of aged care in Australia.

Some of our favourite quotes from the show:

“We know currently the hospitals are creaking. They can’t handle all the healthcare needs of our nation at present. We know that NDIS is having trouble. We know that the pension system well, is there enough money to pay the pensions?” Michael Yardney

“I think that demographics well and truly are the closest thing we do have to a crystal ball, particularly in migration nations like Australia, Canada, New Zealand, the US.” Simon Kuestenmacher

“I think another factor is people should have their own home in retirement. It would be terrible to end up in your golden years or your silver years and have to pay rent.” Michael Yardney

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