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Busting the boomers : Comments
By Damian Jeffree, published 27/11/2006Baby boomers may have to give up some of their ill-gotten gains to achieve a more equitable future.
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As they draw down on their investments/houses/shares they will pull massive amounts of money out of the market causing the prices to drop. This will also be because younger people will not have as much equity and will not be able to (or unwilling to) go even further into debt than they already are.
I ask you the question what happens when the market has 106% mortgages - the market can ONLY go up with income growth and has a large downside risk.