Have you missed the boat?
Are you covered for drug manufacture in your rental property?
Young property investor tells her story
Do you really need an agent?

Here is what is on this weeks show....

Our property markets have performed strongly for a few years, but have now slowed down leaving many investors wondering is it too late this time round. They wonder if they’ve missed the boat this property cycle. Michael Yardney says  ”Don’t worry about that, you can create wealth at any point in the cycle”. He explains more in the show.

Social researcher Mark McCrindle says while generational warfare over property is nothing new, the vagaries of the argument have changed. Gen Ys’ are growing up realising they might have missed out on affordable housing. As well job availability is sliding and access to welfare is shrinking. Meanwhile some Baby Boomers — Gen Y’s bosses, parents and politicians — suggest the solution is to sacrifice, work harder, and whinge less.  Is it that simple?

We’ll discuss an email I received from a listener whose neighbours home was trashed during the production of methamphetamines - and to add insult to injury - he wasn’t covered by insurance. What lessons can we learn from this. I talk to a property manager and the boss of an insurance company that insures landlords.

Disintermediation is a really long word with a short, but scary meaning - the removal of the intermediary in a transaction. For real estate, it’s the word that asks the question: in these digital days, do a property seller and a buyer really need an agent to connect and mediate the selling of a property? Kylie Davis will attempt to answer that for us.

We hear from a young property investor who started buying property when she was 21 and has no intention of slowing down despite some earlier reservations from her financial advisor father. Katie King tells us about her investment journey so far.

 

Transcripts:
Mark McCrindle
Kevin:  Right now, for a look at the battle between Baby Boomers and Gen Y’s, I’m joined by futurist and social researcher, Mark McCrindle.

Good morning, Mark.

Mark:  G’day, Kevin.

Kevin:  Have Baby Boomers actually priced Gen Y’s out of the market?

Mark:  In a lot of ways, they have. The Baby Boomers have done really well in property. They essentially got into property when it was very affordable, certainly by today’s standards, and they’ve seen that asset pretty much triple in value in their ownership.

It’s been a 50-year economic miracle that they’ve lived through. They’ve seen their own wages rise, they’ve seen prices relatively pretty low, they’ve hardly been through a downturn, and they remain in this era where they can work later and accumulate longer. Also, their retirement benefits in terms of tax and the like have been pretty good. That’s been the perfect economic storm for them. Compared to their children, now – the Gen Y’s starting out – the Gen Y’s certainly have it tougher in property.

Kevin:  So you believe there’s some foundation to that, the fact that it is a bit tougher to buy a property than it was, say, in my days.

Mark:  That’s right. Normally, as one generation was easing out of their property ownership, that would free those properties up for the next generation to hit the suburbs. But what’s happened with the Baby Boomers is they largely did buy properties in the suburbs, but right at the time that they’re becoming empty-nesters, they’re certainly not looking to head off into retirement; they’re looking for a more suitable place.

They’re starting to head to those units. They’re starting to head to more of the urbanized areas, to be closer to our cities, and they’re actually competing with their children. This is right at the time that the Gen Y’s are looking for those same properties, those units that they can afford close to work and the like. Once again, you’ve got the Baby Boomers almost bidding again