The Hype Economy

Harping on diversity and inclusion in education, the workplace and the public sphere can seem like the same old story is being retold again and again. This is true, but its value never diminishes. We are still not inclusive enough. We are still slow to respect diversity. We all have a part to play in this.

Understanding people’s cultures and where they come from is paramount to accepting people without prejudice in the workplace. This is the definition of cultural competence. The more employers, managers and team leaders understand that their subordinates or team members’ perspectives are informed by their cultures, the easier it will be to give and take ideas that foster growth in the workplace.

Culture can be informed by where one comes from, one’s generational background, customs, ethnicity, nationality, religion and even one’s sexual orientation. Therefore, when attempting to understand the character behind the person, one must be open-minded enough to be sensitive towards ideals and perspectives that one might not usually agree with. 

For instance, if as a team leader you are atheist or agnostic, you should still be respectful of other people’s beliefs and faith enough to understand that your Muslim team member will need a quiet space and a few minutes for afternoon prayers. If you are unwilling to consider this as a necessary part of your co-worker’s life, then you are already creating a hostile environment where neither your co-worker or the company can succeed.

Training leaders in cultural competence

If you feel you are not a culturally-competent leader, fear not. It is something you can work on, and will develop with time. As a first step, acknowledge your own biases and ideals and try to step outside of those. Try to learn by actively engaging in conversations with your employees and colleagues about how they were raised, what their lives are like now, and what you can do to facilitate better understanding of their inclusivity struggles. While this may seem like you are being nosy, it is different in that you are prying into personal issues your colleagues feel uncomfortable talking about, but letting them know that you care enough that if they feel their personal values are being compromised, they can come to you to address it.

Certainly, you will make mistakes. Prepare to accept them, learn from them and do better next time. Seek to train yourself and also enable the conducting of workshops within the workplace that arm everyone in the office with the tools to be culturally competent. And do not be afraid to try new things such as promoting and supporting Pride Month initiatives within the workplace so that your team knows that you are a leader without judgement, no matter what your personal beliefs may be. But whatever you do, ensure that you do not make arbitrary decisions that will affect the work and life of your employees. In order to avoid problems, discuss your plans with other leaders and even teammates where possible and troubleshoot by listening to their own views and ideas. 

A good leader always listens.

Plan to be competent

Since these are sensitive areas in one’s work life, it is always best to check online and with others in a similar capacity and even professionals such as industrial therapists about what the data and research show. Qualitative and quantitative data will make your decisions more valid rather than the haphazard and doing something for the sake of it. Employee feedback is a great way to obtain some qualitative data on this, and it can remain anonymous. An example of this would be asking employees to anonymously rate you on the inclusive language you use and if they feel the inclusivity workshops you facilitate are useful or just a means of antagonising them further. Based on these, you can change your own behaviour and also urge others in your office to think about what has been said.

Overall, seek for professional development that is culturally relevant across the board. To do this, invest in global citizenship training, listen to foreign work mates’ views, and even celebrate their cultural festivals. In the first example, if your company does a great deal of business with Hong Kong, ask a colleague who has lived and worked in Hong Kong to conduct a training session on the customs and characteristics of the people of Hong Kong. 

Mostly, keep your ear to the ground. This is not prying, but being aware enough to know when people are unhappy with workplace culture and how they are treated. Also remain up-to-date on diversity matters in the global workplace and the way in which people change the way they work. For instance, millennials work differently to Gen Zs, while Gen Zs are quite different to Gen Alpha. The latter can be more open to flexibility in terms of how work is carried out, while millennials might be more prone to follow the methods that have been tried-and-tested.

Making a difference

The culturally-competent leader will learn to embrace new cultural experiences and expand diversity in the workplace. Different experiences and backgrounds bring different benefits to the table. Needless to say, employees who feel that they are valued, respected and heard will work more productively and inspire others to do so as well. 

However, all this is not to say that things will easily fall into place. There will be clashes in ideas, opinions and backgrounds, but as a leader it will be your job to resolve these quickly and sensitively. Invest in a trained counsellor who can be brought in to actively listen and help to iron out problems that may crop up. 

Finally, celebrate each of your employees. Have everyone under your leadership celebrate birthdays, achievements, and career milestones. Foster an environment of positivity through example. As they say, leading by example always matters. 

The world once used to be in a different age where people could simply work a nine-to-five until the end of their days and live and retire happily with what they had earned and saved. That age unfortunately is long gone, and modern demands on our finances often require that we grow our wealth at a pace that would have once made millionaires just to keep our heads above water. But how do you put enough money by for the rainiest of days and retirement? Short of getting rich quick, how do you get rich, as quickly as possible?

Ironically enough, the quickest way to get rich quickly is by planning in the long term. Saving, investing, and reinvesting over time is the only real way to ensure that you compound wealth without resorting to mere speculation, which can take away all your money in an instant.  So how do you go about it?

Ironically, the first step to compounding your wealth is by spending it first. It’s important to first pay off whatever debts are in your name. Things like credit card bills especially rack up high interest in addition to their usual penalties. It can be useful to use something like the debt snowball method, where the smallest of all your debts are paid off as quickly as possible. In the snowball method, the resources that are freed up by paying off smaller loans are then utilised to pay off progressively bigger ones. As the amount of debt you have reduces gradually, more and more funds would be freed up for saving and investing. 

An important avenue often ignored in beefing up one’s financial security is simply asking for a better salary. With every passing year, your value rises as you gain more experience in what you do, and the economy as a whole will be subject to inflationary pressure, both of which are fair and valid reasons to ask for a better rewards scheme. A salary increase is the single easiest way to increase the foundation you have for wealth building, allowing you to save and consequently invest at a faster pace. Your negotiation needn’t be purely monetary either, as perks such as extra vacation days, flexible work hours, and opportunities to develop professionally can all have financial benefits for you, either through reduced expenses or by boosting your income potential. 

Of course, no amount of wealth is going to help if you aren’t well-versed in managing your expenses carefully, and within a budget. As mentioned before, the only way to shorten the time between deciding to build your wealth and doing it is by saving aggressively. Reducing expenses can have other benefits as well: since you are not necessarily living paycheck to paycheck, you’ll enjoy not having to suffer under the mental strain of always having to think about whether you make the next month’s rent or credit card instalment. Of course, managing your expenses is not just about creating a budget and sticking to it: it’s important to revisit the budget frequently to make sure that it reflects the situation you live in, the quality of life you wish to achieve, and most of all, to ensure that it doesn’t legitimise any unnecessary spending that may be taking place under your very nose. For example, it may be necessary to revisit your actual expenses often to make sure that you aren’t paying for things on subscription models that you no longer need or benefit from, like streaming services and other entertainment mediums. 

Another avenue of picking up extra cash that many often employ is side hustles or part-time businesses that pick up a little profit on the side. Depending on your business, this might even prove to be an excellent passive source of income. Having a rental property is one such example, although arguably not everyone has the wherewithal to pick up a rental property on the side. Another important factor to consider is whether your ‘second income’ is actually adding to your quality of life or taking away from it: tying up all your free hours might leave you with no time to give to your relationships or yourself in the end. It’s best to use the increased accessibility that technology provides to commercialise something you can do easily and well. If you have trouble deciding on something, the easiest thing to do is consider what most people come to you for help: this is most likely a talent that you can capitalise on relatively easily. 

In the end, you must invest all the cash you save to generate wealth at a faster rate than at which its value depreciates. Most people make the mistake of spending time and money in finding the ‘perfect’ investment that generates the best rewards while incurring the lowest risk: the truth is, no such investment exists. Simply investing in a company with guaranteed growth in your country is enough to ensure that your little fund grows over time. As you become more literate in the way the stock market behaves, you can experiment with realising your capital gains, reinvesting them, and diversifying your portfolio. Of course, investing in stocks that regularly pay out dividends is a surefire way of tapping into a secondary, passive source of income. Large multinationals such as Macdonalds for example have increased their dividend payouts over the past two decades, which naturally represent an increasing effective yield to those who invested in them. Investing in such a company may require more resources than you think, however, as their stocks enjoy consistently high demand on the market. 

Building a significant amount of wealth might seem a daunting, even hopeless task for young people earning and living in today’s economy. Naturally, wealth-building takes more than a little time to materialise as actual benefits in your life, which is why many often resort to get-rich-quick schemes, with varying results. However, a little preparation, a prudent strategy, and good discipline will see you well down the path of wealth-building before you even realise it. 

I firmly believe that every successful corporate leader I have seen did not possess leadership qualities by birth; rather, they acquired them with education and experience in the necessary fields. I often think about what abilities are necessary and how to obtain them along the way. The majority of business professionals, I’m sure, have similar thoughts.

Most people concur that having strong leadership is essential to launching and operating a profitable company. Even if you are the one who developed the concept and created the strategy, it takes leadership to inspire a group of individuals, including several stakeholders, to carry out the plan effectively, get past all obstacles, and steer it toward long-term success.

And so I was surprised to read a Gallup poll indicating a decline in trust in business leaders during these periods of significant market fluctuations and company instability. Slightly less than 21% of American workers strongly believe that they even now have faith in their company’s leadership. This indicates a decline in the perception of true leadership among today’s corporate management executives.

Regardless of your position, it would bode well for you to focus on important interpersonal skills such as the following if you want to be among the applicants who recognize that true leadership is a privilege rather than a right.

1. Make use of your influence to help others and advance in their status

 Avoid the impression that your leadership expectations are an attempt to elevate yourself. The most effective leaders pay attention to enhancing society, preserving the environment, or giving more back than they take in order to make the world a better place.

2. Improve your storytelling and communication skills

Effective leaders, in my opinion, communicate effectively across a variety of channels, including individual emails, purpose statements, team meetings, and event announcements. Using personal anecdotes to establish rapport promotes understanding and increases confidence in your goals.

3. Honor group accomplishments in front of their colleagues

Peer recognition typically works better than cash prizes and bonuses to foster dedication and loyalty. Individuals prefer to have their modest accomplishments acknowledged, and they will view you as a leader if you call them out rather than taking credit for them.

4. Keep your word, even if you must negotiate to get what you want

Always strive to enhance your negotiating abilities, and make sure you fulfill your commitments. As someone who demands equity and excellence in all of your endeavors, you must be respected as a deal-maker. Give everyone a clear and concise understanding of what you anticipate.

5. Foster the abilities of listening and asking questions

Leaders in training who talk more than they listen seldom receive the trust they deserve. It is imperative that you proactively seek input from team members, constituents, and consumers by probing them and observing their body language. Continuous disruption restricts your ability to contribute and learn.

6. Learn from unsuccessful projects

I’ve concluded that significant company innovators and leaders, like Steve Jobs, honed their leadership abilities via challenging circumstances and unfavorable encounters. A person can develop their leadership skills by taking calculated chances and being adamant about realizing their goals.

I’m confident that by putting the above-mentioned interpersonal skills into practice, you may enhance your reputation, productivity, and job happiness even if you don’t hold a leadership position. The basis of all leadership endeavors, including resolving client issues, choosing a course of action, and fending off rivalry threats, is a business partnership.

It is, of course, never too early to start learning the skills necessary to run your own company or job in the future. These days, business prospects are worldwide, which makes it even more difficult to connect individuals and conduct business in foreign cultures. This is your moment to shine, get ahead of the pack, and realize your full leadership potential.

The internet is flooded with offers for AI-based investment solutions, promising to manage your money and boost your profits. However, after a brief exploration, it becomes clear that many of these AI “trading bots” come with significant risks, which reputable financial institutions often highlight with cautionary warnings.

In simple terms, whether it’s a human or an AI making stock market decisions on your behalf, there’s always the potential to lose money. The hype surrounding AI’s potential has grown so intense that nearly three out of four investors in the U.S. would be willing to entrust all their investment decisions to a trading bot, according to a 2023 survey.

John Allan, head of innovation and operations at the UK’s Investment Association, urges investors to exercise greater caution when using AI for investing. “Investment is something that’s very serious; it affects people’s long-term life objectives,” he says. “Getting caught up in the latest craze might not be sensible. Before we can assess AI’s effectiveness, we should wait until it has proven itself over time. In the meantime, human investment professionals will remain essential.”

It’s important to understand that AI, like humans, cannot predict the future. It’s not a crystal ball. Over the past 25 years, unforeseen events like 9/11, the 2007-2008 financial crisis, and the COVID-19 pandemic have caused significant disruptions in the stock markets.

Moreover, AI systems are only as reliable as the data and algorithms they’re built on. To grasp this, we need to look back at history. Since the early 1980s, investment banks have used machine learning, a form of “weak AI,” to inform market decisions. This basic AI could analyze financial data and make increasingly accurate decisions over time. Yet, it failed to foresee major crises like 9/11 and the financial meltdown.

Today, the focus is often on “generative AI,” a more advanced form of artificial intelligence that can not only analyze data but also create new content and learn from it. In the context of investing, generative AI can process vast amounts of data and make autonomous decisions. However, if it starts with flawed data, the AI’s ability to generate accurate decisions diminishes, leading to potential errors.

Elise Gourier, an associate professor of finance at ESSEC Business School in Paris, studies the risks associated with AI. She cites Amazon’s 2018 hiring practices as an example of AI gone wrong. “Amazon developed an AI tool to automate the hiring process, but because the tool was trained on resumes from predominantly male employees, it ended up filtering out female candidates,” she explains. The AI tool was eventually scrapped.

Sandra Wachter, a senior research fellow in AI at Oxford University, adds that AI systems can suffer from “hallucinations,” where they produce false information due to miscalculations. “Generative AI can provide incorrect information or even invent facts, and without rigorous oversight, these issues are hard to detect.”

Wachter also warns about the risks of data breaches, where hackers could exploit AI systems through targeted attacks to reveal underlying data and code.

AI, despite its potential, can sometimes resemble the unreliable stock pickers who once populated Sunday newspapers, offering dubious advice that influenced market trends more than reflecting them. The reality is that AI investment tools are only as good as the humans who create them, and in the face of unprecedented crises, they may fall short.

So why are so many investors eager to rely on AI for their financial decisions? According to Stuart Duff, a business psychologist at Pearn Kandola, it’s about trust. “Some people unconsciously believe that machines are more objective, logical, and less prone to errors than humans,” he says. “They might think AI is infallible, that it never makes mistakes, or that it never tries to cover up losses.”

However, it’s crucial to remember that an AI investment tool can reflect the same biases and errors as its creators. And in the face of future crises, it may lack the intuition and rapid response needed to navigate such events effectively.

Authentic leadership has become a crucial leadership paradigm for forward-thinking enterprises in a world where change is happening faster than ever. In the midst of all of this, female leaders are emerging as the best torchbearers. Not only are their inherent traits and unique viewpoints enhancing leadership, but they are also raising the bar for authenticity.

While it’s impossible to generalise the traits of an entire gender, research indicates that women perform better than males in many of the skills necessary for genuine, successful leadership. According to the Harvard Business Review, “an analysis of thousands of 360-degree reviews revealed that women outscored men on 17 of the 19 capabilities that differentiate excellent leaders from average or poor ones.”

These seven examples show how women are reinventing leadership:

1. Seeking to become self-aware

Genuine leadership is built on self-awareness. To comprehend others around you, one must first comprehend oneself—its advantages, disadvantages, preferences, and biases. In Daniel Goleman’s emotional intelligence (EQ) paradigm, self-awareness is the first step. 

It is also the first stage of personal branding and a crucial quality for fostering connections. It is acquired by introspection and outside criticism. However, women are 86% more likely to exhibit persistent and effective emotional self-awareness, according to Korn Ferry, even though they are 20% less likely to receive actionable feedback.

1. Adopting a mentality of emotionality 

Women frequently possess a high level of emotional intelligence. They are skilled at observing non-verbal cues, reading the atmosphere, and feeling colleagues’ emotions. “Men are not as adept at reading emotions as women are,” the National Institutes of Health claims. Having empathy is a tactical advantage for female leaders. Genuinely appreciating and comprehending the emotions of others, female leaders foster a safe space that promotes experimentation and creativity. Their emotional intelligence puts them in a position to build solid relationships and foster a climate of mutual respect and trust within their teams

1. Giving collaboration priority

The female leadership style frequently prioritises cooperation over rivalry. Women are more likely to create cooperative networks that are advantageous to the group because they recognise that teamwork frequently leads to greater achievement. To innovate at work and solve difficult problems, collaboration is necessary. Lakeisha Robichaux, the CEO, and creator of Chief of Minds, an HR consulting organisation, offers one of her keys to productive teamwork: “Celebrate the wins, challenges, and lessons learned.” We frequently become mired in focusing solely on victories, although every collaboration stage can yield success and solutions.

1. Effective communication

Open and honest communication is a strength of women. To empower their people, they frequently adopt an inclusive and transparent leadership style that values open communication and feedback. According to a Harvard Business Review study, women are better communicators than men, which can improve one’s capacity to connect with others, inspire and build teams, and—possibly most importantly—become a stronger leader. 

Women leaders possess a special capacity for assertiveness without sacrificing empathy. In addition to being encouraging and understanding, they can demand perfection and drive performance. Furthermore, women contribute a distinct viewpoint to peer discussions because of their lower representation in top leadership posts. LeanIn.org reports that about one in four C-suite leaders are women.

1. Promoting belonging and inclusivity

Because of their innate propensity for inclusivity, women leaders are frequently advocates for diversity. By ensuring that different perspectives are heard and taken into consideration, they help open the door for more creative and inclusive decision-making procedures. They create spaces of belonging where team members experience recognition and are heard. Most people share the value of belonging, according to the Valuegraphics study.

1. Exhibiting resilience

Women are remarkably resilient, a trait that is frequently developed via conquering hurdles in their personal and professional lives. Teams are motivated to overcome setbacks with greater vigour when they witness this contagious perseverance. According to HBR, women were judged as being particularly good at “acting with resilience.”

1. Championing growth

Women leaders cherish growth and development and are lifelong learners. They frequently take the lead in promoting training and ongoing development inside their companies. They are frequently passionate about mentoring others and developing the next generation of leaders because they understand the importance of advice. Mary Church Terrell, a well-known suffragist, civil rights fighter, and woman leader, summed it up in these four words: Lift, as you climb.

Being a leader who truly cares about the organisation and its members is more important than being a strong authoritative figure. Women can use these qualities as effective tools to help their organisations reach their full potential. 

Women are establishing a new benchmark for leadership with their nuanced style that speaks to today’s talent and the demands of a workplace that is changing quickly.

Contrary to popular belief, marketers are not merely interested in Gen Z and Gen Alpha in their promotional endeavours. The baby boomer market is also a lucrative segment that needs to be tapped via the right channels. 

In fact, the market research company Insider Intelligence says that this year, 11.3 million consumers between the ages of 55 and 64 and 10.8 million consumers who are above the age of 65 will turn to social media to make a purchase. 

This creates a massive opportunity for marketers who are on the ball. 

Who are they?

The Census Bureau reported last year that about 70 million people in the United States belonged to this category, which was about 20 percent of the entire population.

They are a generation that has witnessed a great deal of important historical events such as the Cold War, the Moon Landing, and the introduction of the internet. They are educated and believe in hard work. The social and political events they have grown up with have influenced who they are.

Why are baby boomers important?

While baby boomers may be considered a hard-to-reach market in this day and age due to the perceived digital divide, targeting them in promotions is hugely beneficial to businesses.

They are an established age group—mostly secure in their work, savings, and investments and even in their habits. Furthermore, they are also likely to have credit cards and more and more of them are now venturing online to make their purchases.

Insider Intelligence reports that 63% of baby boomers possess a credit card. Close to 40 % had used their credit card to make an online purchase within a week in the latter part of last year. 

A Federal Reserve report also said last year that baby boomers control over 50% of the wealth in the US

A study by Google also says that baby boomers spend more time online than watching TV. It also says that 82% of this market segment has at least one social media account, with Facebook and LinkedIn among the more popular platforms.

The other latest platforms that baby boomers seem to frequent are YouTube, X (former Twitter), Instagram, and Pinterest. 

Baby boomers and technology

Many of them may have been the last to join the technology bandwagon, but they have slowly but surely been acclimatising themselves and becoming more present online.

This generation mainly uses technology to access the latest news, check their email, obtain health information, and access social media where they also shop for various items, such as groceries.

How to reach them on these platforms

The baby boomer generation is more interested in value for money; perhaps more so than any other age group. Demonstrating how your brand will enhance their lives in various ways will persuade them to opt for your product over others.

To do this, use language that is simple and succinct. They prefer the no-frills explanations that save time and explain clearly the benefits delivered by your product.

Accompany your message with good images that will convince them. These need to be clear and attractive. 

Furthermore, the baby boomer generation consists of those who have been brought up on facts and reliability. Therefore, give them these details, show that your company is reliable, and invite queries to assuage their doubts. Adding testimonials to your advertisements will be beneficial.

Overall, keep the clutter at a minimum and tell clear and concise stories via your advertisements or promotional material. Post these messages constantly and reach out to connect and build relationships. 

Understand their needs

Baby boomers like their privacy, but they also appreciate personalisation in the promotional material that reaches them. For this reason, Direct Mailers are a good tool to use to reach them.

However, alongside this, this market segment also values the personal touch. They enjoy human relationships and having their questions answered directly. As such, reaching them online would ideally be followed by a phone call or visit where they can engage in a frank conversation about the product you are selling them. A successful sales visit will be instrumental in building brand loyalty, which will probably be maintained for years to come.

Finally, understand that as with any other market segment, baby boomers’ needs will change as they age. They will need more focus on healthcare, more reliability in the products they use, and more human connection so that they feel less isolated. Knowing their changing behaviours and lifestyles will be important for marketing products and brands to them that will resonate with who they are.

Ensure that the tools that are used to reach them hold a mix of traditional and digital methods so that there is reliability, authenticity, and better customer service. Their perceived value of the latter will determine how far your brand journeys with them.

If you thought millennials were shaking up the real estate scene, get ready to meet Gen Z—the new kids on the block who are eyeing those classic boomer houses with a twinkle in their eyes.

The real estate landscape is undergoing a generational shift, and it’s time for baby boomers to brace themselves for the wave of Gen Z buyers entering the housing market. As millennials continue to make strides in homeownership, the next generation is quickly following suit, bringing fresh perspectives and preferences that are reshaping the way homes are bought and sold.

What’s going down with the boomer housing scene? 

One generation dominates the US home market: the baby boomers.

Having amassed an astonishing $19 trillion in real estate, accounting for 41.6% of the nation’s real estate wealth, baby boomers have significantly altered the housing market and raised prices to previously unheard-of levels.

The number of people who are 80 years of age or older is predicted by the Census Bureau to more than double by 2040. Additionally, a potential “silver tsunami” of available homes might flood the market as boomers abandon their homes for a variety of reasons.

According to some analysts, this migration may result in cheaper pricing and more opportunities for future generations, especially Gen Z.

Around 2030, Gen Z, who will soon be entering their peak home-buying years, may benefit from this shift in the market. Since many baby boomers are downsizing as they become older, there may be an excess of starter houses, which are in high demand but hard to come by in the current market.

Millennials could have certain advantages, but they’re probably far older than most first-time homebuyers. Their prospects may be hampered by the necessity for significant renovations to ageing boomer homes and economic difficulties.

The one thing that can be predicted with confidence, notwithstanding efforts to predict market movements, is population trends.

That being said, according to historical data, baby boomers are expected to start moving out of their houses around 2030.

The winner takes it all

Millennials had to contend with tough economic times and fierce competition from baby boomers; Gen Zers, on the other hand, have a more advantageous market. A smaller cohort size and less competition from boomers may lessen the pressure on the home market.

Based on a Redfin estimate, as of 2022, 79% of baby boomers owned the homes in which they resided, compared to 52% of millennials and over 26% of adult Gen Zers.

According to Jessica Lautz, Vice President of Research and Deputy Chief Economist at the National Association of Realtors, “I don’t know that millennials will be that generation who benefits” from the retirement of boomers, she told Insider.

Redfin stated that 30% of 25-year-olds owned their home in 2022, compared to 27% of Gen Xers at the same stage in their lives.

In the meantime, millennials were still having difficulty keeping up with their parents. As reported by Redfin, 62% of 40-year-olds were homeowners in 2022, compared to 69% of boomers in the same age group.

Odeta Kushi, the Deputy Chief Economist for First American, a title business, told the outlet that in 2030, the oldest Gen Zers will be in their 30s, which is during the best years for first-time purchasers.

The possible advantages for Gen Z in terms of supply and demand dynamics are obvious, despite some conjecturing that the houses left behind by boomers could require renovations to appeal to younger purchasers.

Demographic forecasts suggest that when the younger generations take over, things will get better for Gen Z and eventually Gen Alpha.

Final notes

A major generational transition is occurring in the real estate industry, with Gen Z becoming the next wave of buyers. Sellers and real estate agents need to comprehend and adjust to the distinct tastes of this tech-savvy, ecologically sensitive, and community-focused generation as they set their sights on boomer properties. 

In addition to drawing in Gen Z purchasers, embracing these changes and coming up with creative marketing and renovation strategies for older homes will revitalise the real estate industry. It’s time for baby boomers to welcome Gen Z into the areas they’ve lived in for decades as part of the ongoing intergenerational exchange.

The shift in the housing market may not be a solution for the larger housing crisis, but it does offer a special chance for the well-off and savvy younger members of the millennial age.