Quote Originally Posted by Wheel-J View Post
I've read this article yesterday and there's one part of the news there I couldn't yet comprehend for whatever basis.

"There's going to be a fairly prolonged period of balance sheet consolidation with households: you're going to get a situation, even though credit is cheaper, people won't use extra income to spend," he said.
It'd mean that people will put more money into savings accounts, or repay their debts, rather than spend the extra money their cheaper mortgage repayments leaves them. It'd be more of a fear responce, thinking that things could get worse, and they need to save for a 'rainier' day.