Similar to Australia, saving rose much more sharply for higher educated households (those holding a degree), suggesting a downward assessment of future income prospects, such that much of the income growth over the period was saved.
17 Another parallel with the  11  Australian study is the significant reduction in dissaving amongst those with the highest debtto-income (DTI) ratio (figure 8), supporting the notion of a debt overhang and a desire amongst such households to lower their debt ratios, or a reduced supply of lending to such households.