Cash splash as Boomers hit the jackpot
After decades of saving, older Australians are spending up. But the wave of cash is causing headaches for the inflation-fighting treasurer and RBA. Can the good times last?
Kacy Grainger’s good fortune has been to establish the gallery in a city crawling with cashed-up former senior public servants.
Canberra art dealer Kacy Grainger is in no doubt the market for original paintings and sculptures has shifted since the middle of last year.
Interest rates are up. Customer numbers are down. But when she and her husband Richard looked more closely at their sales data, something strange appeared.
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