Normal
One effect that I have noticed is that since the IR changes were announced there seems to be a degree of panic amongst real estate agents and builders with both simultaneously ramping up advertising and cutting prices. Likewise the sellers of expensive goods seem to be experiencing a slowdown according to media reports.It's possibly just a co-incidence but it does suggest that consumers aren't exactly over confident at the moment. A lack of job security discourages the taking on of debt so I think the shorter term economic effects of this may be more significant than is being assumed regardless of the longer term implications.
One effect that I have noticed is that since the IR changes were announced there seems to be a degree of panic amongst real estate agents and builders with both simultaneously ramping up advertising and cutting prices. Likewise the sellers of expensive goods seem to be experiencing a slowdown according to media reports.
It's possibly just a co-incidence but it does suggest that consumers aren't exactly over confident at the moment. A lack of job security discourages the taking on of debt so I think the shorter term economic effects of this may be more significant than is being assumed regardless of the longer term implications.
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