I was struck yesterday but a column in the Australian Financial Review titled: How Boomers are busting homes for rate cuts.It makes some powerful arguments about wealth effects in Australia and abroad. It highlighted a 2023 study from Visa that changed thinking about spending. Most studies imply consumers spend between 4-15 cents of each dollar increase in wealth via housing and financial assets. However it found that figure has tripled from 9-cents in 2017 to an estimated 34-cents in 2023.Why this is so critical is because Baby Boomers are flush, particularly in places like Australia where the housing market has been a windfall. It's also true in the US, where Boombers invested in equitie
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