There is another issue that has not been addressed: as the Baby Boomers start to finance their retirement, the equity will start going down further. This has started in 2006 and will continue all the way till 2025. So, net household wealth has nowhere to go but down (with all the implications for consumer spending etc.,) as the mean age of population rises. The years 1946 – 2006 were the rising tide of household wealth; 2006 – 20xx will see the reverse of these changes.
