When the Pyramid Inverts: Demographic Decline, the Global Real Estate
The Global Premise: Demographic Decline as a Real Estate Thesis-Killer The most durable real estate bull market in modern history was, at its foundation, a demographic story. Post-war baby booms created large generational cohorts that progressively moved through the property cycle — from renting in their twenties, to first-home buying in their thirties, to upgrade…
