They are entering their 40s and 50s. Statically that s when people save. When you re saving, you aren t spending, and that places downward pressure on pricing. Interestingly the U.S. is not the only country with a babyboomer population. Other countries have the same phenomena amplifying the argument.
Technology is deflationary.
It s not really the technology but the way that we use technology to buy goods and services. It is just cheaper to buy on the Internet despite arguments that I have heard at real estate conventions this year. Airline tickets, banking, stock purchases, books, computers, cars are cheaper to buy on the Internet. It reduces the need to carry brick and mortar as overhead. Clicks and Mortar is the current trend.