Endowment shortfalls - another drag on consumer spending?

Households have certainly not had it easy over the last year or so. And one factor which presents a further threat to spending over the next few years is the projected shortfalls on endowment mortgages. But there could finally be some good news as far as the factors affecting consumer spending are concerned, in that the effect on aggregate household spending of paying off endowment shortfalls is likely to be pretty small.