Absolutely, Pinto. The Baby Boomers, of which all but the last of 3 cohorts either have retired, or are about to, remember well several crashes in their lifetime, but now their tolerance for risk is almost depleted, given there is no financial resurrection when one loses it all at >65, and with little appetite (physical or mental) to even try. So, as you say, they see RE as the safest option, and one they are familiar and comfortable with. This current RE dynamic, of many moving parts, also corresponds with the largest cohort of Baby Boomers (the middle cohort) landing on the retirement age of circa 65/68 - resulting in some considerable movement/adjustment of assets. It is of note that this middle cohort are the wealthiest segment of the entire Australian population. It is also of note that the last cohort of Baby Boomers (currently in their late 50's) will not retire for another 7/8 years.
