tanglewood wrote:
The growth in wealth that many have experienced is not directly linked to income of the owners. House prices in the south east and London is a great example.
As for selling up the house and garden you have owned for 50 years and nurtured, and that allows you to have your grandchildren come and stay, and moving into a one room flat - well, it's not easy, and no wonder most resist it as long as they can.
I think those of us with income but low wealth should buy our parents' house a month at a time while they still live in it. They get more income and we get more wealth. That way we reduce two inequalities at once.
The problem you posed was one of eating v wealth tied up in property,I'd rather eat.
As for the children buying their parents house is a very good idea though flawed.The children may not always be able to afford to due to their own financial situation.
FWIW I have three daughters,all married though one has been divorced and is now remarried.The very thoughts of her ex husband(who was a complete and utter despot) having any claim on the house we live in is beyond reason,there will I've no doubt be many other circumstances where parents wouldn't be comfortable with their children and spouses buying the house they live in.