I don't think this mentions anything about housing or mortgages. I think it's a bit simpler than this. Higher income people currently already have their basic n

I don't think this mentions anything about housing or mortgages. I think it's a bit simpler than this. Higher income people currently already have their basic needs met and have a good amount saved up for eventual retirement. When people's current needs are met, they think about the future, the economy affects it. Lower income people are currently struggling to make ends meet. You'd already be worrying about it everyday, the economy getting worse basically feels like noise that you don't have time to add to your worries.