The success of any city is dependent on its population, and the labor productivity that fuels economic growth. But as cities age and mature, demographics shift, creating new challenges for these cities. And this can create new challenges for real estate investors.
A new report from the McKinsey Global Institute says as cities around the world face more challenging demographics, "the days of easy growth are over." Two of the biggest challenges are lower birth rates and fewer people migrating from rural areas. Both reduce population growth.
There are also global challenges to prosperity that are driven by population growth. First, fertility rates are decreasing, and second, an aging population.
Institute researchers say that cities will have to adapt to a new reality for their own survival and for the survival of nations that depend on the prosperity of their cities.
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