In this financial war, homeowners are the biggest draft dodgers

Graham_Devon

Part of the guardians "comment is free" section.

Writer explores who has benefitted the most from the governments policies throughout the recession and who has lost out.

Are they right to focus so much on homeowners? I guess that depends on your own viewpoint, but this writer certainly thinks high inflation, wage freezes and people priced out is a cost that's worth it to the government to keep the homeowners vote.

http://www.guardian.co.uk/commentisfree/2011/sep/23/homeowners-george-osborne-low-interest-rates

Austerity is popular among middle-income groups because it keeps mortgage rates low. High inflation may eat into their disposable income and a wage freeze may make the situation worse. Yet, thankfully, neither comes close to wiping out the benefit of low mortgage rates.

That is why Osborne has his eye all the time on the UK's 12 million homeowners. Maybe some have lost their job and seen their homes repossessed. These people will not vote Tory again.

The majority of the 12 million still in work might vote Tory. It is a message Tim Morgan at City trading house Tullett Prebon has made on several occasions in the last year. Morgan is head of research and a noted thinker who is especially gloomy about the inability of politicians to overcome vested interests to fight the war and win.

A broader confrontation with homeowners over the value of their properties is needed and not just in Britain. In Italy and France, middle-income families have become obsessed with property as a safe haven against any storm. They instruct politicians to support any policy that will keep property values high.Harming the long-term prospects of the economy, putting millions of people out work, preventing young people getting a job – these are all prices worth paying.

Sarkozy and Berlusconi are not just preening and egotistical, they are representatives of solid constituencies who gained hugely from the boom.

No wonder it seems to many people the war only affects the better off. What we must recognise is that the draft dodgers number in their millions, are mostly nice hard-working families who, through a mixture of fear and greed, continue to insist the financial crisis affect only the weakest and most vulnerable. George Osborne, one of Westminster's wily foxes, is one of the few who understands this message.

Good to see the mainstream media linking high house prices to sucking the life out of the economy....even if it is only in the comment sections.

It has certainly upset homeowners in the comments section!!

ukcarper

I’m homeowner doesn’t benefit me perhaps it should be rephrased mortgage holders.

OptionARMAGEDDON

I wouldnt have a mortgage if it wasnt for the bloodsucking previous generations.

pqrdef

There should be a windfall tax on ultra-cheap mortgages. After all, we're all in this together.

dealer_wins

pqrdef wrote: »

There should be a windfall tax on ultra-cheap mortgages. After all, we're all in this together.

And a windfall tax on posting nonsence.

pqrdef

dealer_wins wrote: »

And a windfall tax on posting nonsence.

What's nonsense? We're all in this together? Total rubbish, I agree.