I was interested to read last week that the Association of Mortgage Intermediaries’ chairman, the former MP John Gummer, refers to home ownership as the basis of freedom.
I used to have a lot of respect for AMI, it was a good campaigning organisation, but idiotic statements like this cannot help it. So a young,
unemployed home owner in negative equity has freedom while a young unemployed renter has none?
The unemployed renter will get local housing allowance while they look for a job and also can move to a different part of the country to find
work much more easily than a home owner in negative equity.
I feel sorry for AMI being saddled with a dinosaur like Gummer – my main memory of him as a Tory minister was trying to feed his daughter a burger during the BSE crisis.