[quote=jpinpb]As CAR said, a huge amount of consumer spending in the economy HAS been going on for 2 years.
It’s called living mortgage-free and the bank not foreclosing.[/quote]

JP
I’m not disagreeing it has been going on just that many of you dramatically over estimate its impact. The people living mortgage free is a very very small proportion of the population in a very limited portion of the country. Gving 4% interest rates the tresponsible folks like us has an impact many times beyond homesquatters living mortgage free many of whom are under or un employed.