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REIWA Property Management Chapter Convention 2007 Busselton Western Australia 28 th April 2007. Future Trends Impacting Real Estate Harvesting in the Worlds of the Gen X DotComs & Ferals. Annimac Futurist Trend Forecaster
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REIWA Property Management Chapter Convention 2007 Busselton Western Australia 28th April 2007 Future Trends Impacting Real EstateHarvesting in the Worlds of the Gen X DotComs & Ferals Annimac Futurist Trend Forecaster www.annimac.com.au
Rate of Change - exponential Amount of change now in 1 day grandparents had in 1 year Younger means faster Generational gap widening www.annimac.com.au
I’m never having kids. I hear they take nine months to download. www.annimac.com.au
Three Global Challenges • Climate change • Peak Oil • People change www.annimac.com.au
Three Global Challenges • Climate change • Global warming impacting now • Aus second most arid continent • WA climate highly vulnerable • tropics moving south, desert moving west • changing rainfall & temp • 2° temp rise = 1 metre ocean rise www.annimac.com.au
Three Global Challenges • Peak Oil • The Big Rollover : Demand > Supply • In 2005 O&G industry : happen in 2007 – 2012 • Feb 2007 : industry says Now ! www.annimac.com.au
The Peak of World Oil Production OIL BUYERS MARKET SELLERS MARKET 3 5 3 0 CHEAP & EASY-TO-EXTRACT OIL 2 5 2 0 We are here Past oil production 1 5 US Previous Rollovers Forecast oil production North Sea 1 0 5 0 1 9 3 0 1 9 5 0 1 9 7 0 1 9 9 0 2 0 1 0 2 0 3 0 2 0 5 0 EXPENSIVE & HARD-TO-EXTRACT OIL Annual Oil Production Gbbl www.annimac.com.au
Three Global Challenges • People Change • Product driven world shrinking • Value driven world expanding • Consumers demand excellence • Consumer Profiles rapidly changing www.annimac.com.au
How Values shape markets • Values determine what people value and find valuable • What people value and find valuable they will want more of • What they want more of will determine what they seek in markets • What is sought in markets will shape emerging innovations, products, services and technologies Peter Ellyard Preferred Futures 2007 www.annimac.com.au
Technology Driving all Change By 2020 70%of job types then do not exist now www.annimac.com.au
Driving Change : By 2020 because 80% of technology then is not imagined yet www.annimac.com.au
Future Receptionist ? Display home hostess ? Japanese Robanoid 2006 www.annimac.com.au
Imagine what some of those jobs might be ….. www.annimac.com.au
Likely jobs in next 15 years : • Director of Emerging Thought • Chief Zookeeper - of people • Biotech Homes Consultant • Home Mood Enhancement Coach • Nano Technology Info Officer • Chief Imagination Advisor • Hacker Relations Manager • Holographic Display Modeller • Online Client Life Consultant www.annimac.com.au
Look at Generational differences • Gen gap always existedbut • Gen gap is fast widening www.annimac.com.au
Parallel Universes Kids live them. www.annimac.com.au
Generations Baby Boomers 1945 – 60 age 45 – 60 Generation X 1960 – 75 30 - 45 DotComs 1975 – 90 15 - 30 Ferals 1990 – now to 15 annimac Generation X 1960 – 80 25 – 45 Generation Y 1980 – now to 25 wikipedia www.annimac.com.au
Baby Boomers $100 for speeding $250 for misleading the public www.annimac.com.au
Baby Boomers 45 - 60 • Downsizing lives • Empty nesters • Retired or part time work • Male identity from job • Questioning material status www.annimac.com.au
Boomers Care www.annimac.com.au
Baby Boomers 45 - 60 : • Sense of community • Seek new safe experiences • Security & Health conscious • Defer to authority • Love / hate change www.annimac.com.au
Boomers & technology That’s the phone dear. Here try the remote. That’s the phone, dear, Here, try the remote www.annimac.com.au
Impact for Real EstateBaby Boomers 45 - 60 • Winding down : leisure indulgence • Risk averse • Respect rank • Steady relationships • Need • relationship continuity • familiar experiences • positive group identity • structural reliability • greening options www.annimac.com.au
SoAre Boomers driving changeNo Yes Maybe 45 - 60 What do you think ? ….. www.annimac.com.au
Generations Baby Boomers 1945 – 60 age 45 – 60 Generation X 1960 – 75 30 - 45 DotComs 1975 – 90 15 - 30 Ferals 1990 – now to 15 annimac Generation X 1960 – 80 25 – 45 Generation Y 1980 – now to 25 wikipedia www.annimac.com.au
Gen Xers www.annimac.com.au
Generation Xers 30 - 45 • Single Childless • Net Dating • Varied lifestyles • Varied workstyles • SOHO www.annimac.com.au
Gen X Lifestyle Dog www.annimac.com.au
Generation Xers 30 - 45 • Risk takers Personal journey • Fast decisions • Materialism assumed • Environmental values • Defer to heroes • Expect & accept change www.annimac.com.au
Impact for Real EstateGen X30 - 45 • Fast action Now • Short term pitch - staged pitch • Results oriented • Need • choices immediacy • short term involvement • complete – stand alone • skills oriented • demand quality of experience www.annimac.com.au
SoAre GenXers driving change ?No Yes Maybe 30 - 45 www.annimac.com.au
Generations Baby Boomers 1945 – 60 age 45 – 60 Generation X 1960 – 75 30 - 45 DotComs 1975 – 90 15 - 30 Ferals 1990 – now to 15 annimac Generation X 1960 – 80 25 – 45 Generation Y 1980 – now to 25 wikipedia www.annimac.com.au
DotComs www.annimac.com.au
DotComs 15 – 30 ( Gen Y) • Own path Immediacy • Temporary pairing • Group socialising • Internet relationships • Wired • No home • No single careers www.annimac.com.au
DotComs Relationships www.annimac.com.au
DotComs 15 - 30 • I.d. from activity • Multi channeled Multi actions • Planetary group mission • Temporary deference - usefulness • Need change Cluetrain Manifesto www.cluetrainmanifesto.com www.annimac.com.au
Impact for Real EstateDotComs 15 - 30 • Passionate – value driven • Team + personal relationships • Short term fast involvement • Multi channel activities • Need • choices no spin • very short term • flexibility innovation • real positive outcomes www.annimac.com.au
SoAre DotComs driving change ?No Yes Maybe 15 - 30 www.annimac.com.au
Generations Baby Boomers 1945 – 60 age 45 – 60 Generation X 1960 – 75 30 - 45 DotComs 1975 – 90 15 - 30 Ferals 1990 – now to 15 annimac Generation X 1960 – 80 25 – 45 Generation Y 1980 – now to 25 wikipedia www.annimac.com.au
Ferals www.annimac.com.au
Ferals 0 - 15 • Wild Child • No limits No boundaries • Planetary mission : to create sustainable world • Wired • Parallel universes • Unlimited mind channels • Intuitive & telepathic www.annimac.com.au
Ferals Virtual World www.annimac.com.au
Ferals to 15 • Future jobs unimportant • Non consumers • Global i.d. from self values • No deference • Respect only when useful • Live change & ignore barriers www.annimac.com.au
Ferals www.annimac.com.au
Impact for Real Estate Ferals to 15 • Expect new relationships & things • Love Virtual world • Create into unknowns • Influencing older gens - leading ! • Need • personal power trust • clear values nb: super spin detectors • no rules no hindrance • ICT quality access • multi channel everything www.annimac.com.au
SoAre Ferals driving change ?No Yes Maybe www.annimac.com.au
Y E S www.annimac.com.au
Real Estate Trends Summary • huge rate of change • climate change & Peak Oil • younger generations driving change • relationships key • Work / Life styles options • less governance • more community power • individual responsibility ! Virtual world emerging ! www.annimac.com.au
Facing the future in Property Management : www.annimac.com.au