This will be a very interesting "downturn" in that it will effect people very differently.
Most of the regular Myer shoppers I know are aged 50+, for whom mortgages are a thing of the past, and they're actually doing better from higher interest rates on savings.
It's just an anecdote, but a friend of my mum's downsized from Sydney to the south-coast a few years back, putting enough away to live comfortably on 1.5% term deposits for the rest of her days (whilst also drawing down capital). Well, isn't she happy now that she can get 5%+, plus her smaller amount of superannuation has rebounded well. Happy days whilst others face much higher interest payments.
Bet Sol can't wait to buy his next 3% of MYR at these prices.
MYR Price at posting:
63.5¢ Sentiment: Buy Disclosure: Held
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