I’ve been listening to some very interesting podcasts and webinars about how Australia will likely emerge from the Covid 19 Pandemic and which aspects of our pre pandemic lives will be brought forward and which we will leave behind.
Demographer, Bernard Salt, recently commented on how global catastrophes tend to break us and then reshape us, bringing us into the new era with a focus on building our brand new future.
After the Spanish flu and World War 1 came an incredible transformation of society. There was great rejoicing that the horrific effects of the pandemic and war were finally over and those who emerged wanted to celebrate life.
Australia became a very prosperous nation as a result and many new fortunes were made because a new vision was required – no longer could we do things the “old way”.
Fast forward to 2020 and when we consider how investors have traditionally invested in property, there will be cause to consider if there are better ways of investing in our future post Covid world.
How we recover economically will rely on the new ways that we create and build businesses and how our leaders make and deliver strategic policies that benefit all Australians.
I suspect that most property investors will spend a great deal more time researching and getting a deeper understanding of the fundamentals of investing than simply buying a ‘nice’ property in a ‘good’ area and hoping that it performs for them.
Most likely we will be accessing such things as in depth education programs with specific investment outcomes to provide a strong base of knowledge around property investing. Using smarter technology that is available to us will certainly become a part of our new world of investing.
Many other aspects of life will be transformed and there will be greater flexibility when it comes to our working day and spaces, leisure time, family time, sustainability and investments. There will likely be more time available for each of these areas as we work from home or a combination of flexible working arrangements, allowing us to dedicate more time to important things such as investing for our future.
How investors recover is much the same, by making strategic decisions based on quality research and understanding the fundamentals of investing to build strong, successful portfolios that will provide wealth certainty into the future.