3/4 of voters, deadzone. Voters, as in people who vote. Homeowners are not 75% of us, indeed, but they do vote quite a bit more often than renters.
As for Simon Johnson, he’s a very smart guy, and he might be right on this one, only time will tell. By the way, I think his baselinescenario.com blog is one of the best out there. I highly recommend it.
