Retail sales Up, page-12

What are your credit choices if you don’t have cash? Use equity in your property to refinance your house, credit cards or BNPL.

If you have refinanced lately like me you would know it isn’t easy. Ends up nearly a 3 month process and the banks want to know how and what you spend every dollar on down to how many times a day you use the toilet and how many sheets of paper you use to wipe each time. It’s not easy. Due to this it has either stopped people being able to borrow more or even mad it hard to refinance to reduce interest rates. Most banks also don’t want to do interest only anymore which screws investors having cash available.

Therefore the only other credit options are credit cards on 20% interest or BNPL. And everyone is talking about the shift there.

Everything in the economy comes into play when your talking about retail spending including mortgages