A general downturn could have an effect though. Eg. if...

A general downturn could have an effect though. Eg. if homeowners/investors see falling house prices or getting moved from interest only to P&I, have to cut back on spending, in turn getting retail staff fired or construction workers fired, who are more likely to be MNY customers.

Few companies will be able to avoid falls when the housing market/debt comes back to bite. We've been seeing it going on for months already.