It seems one factor ignored (or is it?) in economic theory is saturation of durable goods. By this I mean the fulfillment of fixed need for durable goods.
We can imagine income to be divided between consumables, durable goods, capital investments (like real property) and savings. Spending on durable goods is often equated to that on consumables, but this does not seem right to me.
For me personally, for example, I notice that I am spending less money overall and saving more money, not because I want to save more, but because I have simply bought all the stuff I need. After 30 years of buying tools, appliances, books, furniture I literally have every single tool and appliance I need. Ten years ago I was still buying all kinds of stuff, drill presses, rotary saws, juicers, you name it. But now that I have all that stuff I don't need to buy anymore. I mean I don't need two lathes, I just need one lathe.
So, especially if we consider a static or aging population there would seem to be an effect whereby the population is "all tooled up" and no longer needs to spend on durable goods (except for maintenance purposes). Is this phenomenon recognized by any economic theory?