How key economic and demographic trends create new opportunities and challenges for property managers. Whether we accept it with open arms or reject it at every opportunity, we live in an era of rapid technological advancement and changing lifestyles. While previous generations have had similar work and personal life patterns for decades, we have to adapt to the significant changes that occur every few years.
This rapid pace of change puts unprecedented forecasts and preparations. For those of us who are interested in developing our career or business, now being ahead of the curve is a requirement.
The purpose of this article is to describe a model that is believed to be important for real estate management over the next two decades. You can also look for property management in Melbourne.
Real estate management: a stable and growing industry
According to the latest US census data, the real estate management industry had an average growth rate of 7 to 8% at the start of this decade. The data show a significant and stable industry with more than 140,000 active companies with sales of nearly $ 36 billion.
According to nearly all expert estimates, the industry is expected to continue to grow at an accelerating pace over the next two decades as America's urban landscape changes significantly. The following four factors are among the most important demographic and economic forces behind this transformation:
1. The baby boomer effect
Y Factor 2nd Generation.
3. Municipalities and the concept of planned municipalities
4. The local life movement
In this article, we will discuss each of these factors and try to understand their main implications for property managers. Finally, we made a number of conclusions and recommendations for further action.
Perhaps the most significant and debated demographic issue of the past two decades is the baby boomer generation approaching retirement and gaining momentum. This generation, who may have had the biggest say in creating many of the modern trends, has an even greater influence given the level of wealth it has amassed.