Quote:
Originally Posted by Paul
I wonder who has my "Wealth"  |
Much of it is locked up in property. Boomers made their way up the housing ladder with relative ease, as high inflation reduced the value of their mortgages even as their endowment policies bloomed. As those policies neared maturity, many of their holders voted to demutualise the building societies that issued them, taking in some cases huge profits, paying off their mortgages and in some cases using the substantial excess money to get into the buy-to-let business.