> For someone who owns their own house and makes £10,000 a month, it’s meaningless. Their inflexible goods are already covered I disagree. Competitive middle c

> For someone who owns their own house and makes £10,000 a month, it’s meaningless. Their inflexible goods are already covered I disagree. Competitive middle classers would often climb up the property ladder and spend the £1,000 more on their mortgage. Mortgage payments are often a large percentage of middle class costs that constrains disposable spending (certainly true for me). I generally agree that say rent might rise to take up any extra income from renters. But a similar dynamic occurs for owners. Especially when you look at the group level where house prices are indirectly set by householder incomes. House buyers compete with each other for how much they can pay in mortgage repayments, similarly to how renters compete with each other.