Roger Martin-Fagg, the outstanding behavioural economist who has worked with Property Academy members for over two decades now, made a point on our most recent quarterly economic update that “people save because of fear.”
Now I’m sure there are other reasons too, such as for a holiday, or a deposit to buy a home, but Roger was seeking to highlight that household savings are considerably higher than average, or put another way, people have money to spend but are scared to do so.
This got me thinking about the difference between positive and negative drivers of behaviour.
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