Millions of older people have suffered about a 30% in buying power due to monetary inflation.
Millions of them are buying less.
I moved (sold & bought) in 2020. Last move.
Traded for a used new auto in 2021. Last auto.
Converted a tub shower to a walk-in in 2022. Done with that. (love it!)
Going forward, my elective spending will continue to be components for constructing a model train layout.
Some boomers travel & continue to buy buy buy but I’d wager more than not settle into a frugal spending pattern.
And many of those that settle do so because they must.
Millions of older people have suffered about a 30% in buying power due to monetary inflation.”
^
How many have “Reverse Mirtgages”?