spilla....I am just one of the millions who are not spending....its not all about the mortgage at all...(see the link at the first post, only 250 people have lost their homes since July last year, or one a day, out of over 10 million homes) we are not spending, not only due to the interest rates, its all about hoarding money , in case of job losses, or like myself in small business, a downturn expected....or any other catastrophic event.....which is plausible with the current set of world leaders, not a conservative amongst them....all assisting the banks with ponzi schemes or assisting other fraudsters....
the home owners must be feeling the pinch...with 6 consequtive rate rises....and a govt hell bent on sending us all and the country bankrupt....
I have been on a spending spree recently....buying bargains in clothing at 50-80% off..... I like to keep a special rainy day reserve, equivalent to a years spending/ costs....hence the extra hoarding this time around. so I am never forced into a position, contrary to my goals and plans..
