[branchless]

I hear this "inherit housing riches" a lot and I'm glad to see you aren't fooled by it. Housing isn't wealth. The value of land represents the ability to make use of it.

If the support ratio slips (ratio of working to non-working) then if we are to maintain the living standards of the non-working we either have to have a big productivity leap or lower living standards for those in work.

Reverse mortgages aren't going to cut it. And as you say, what then when the millenials have to hand over the keys to their parents' house?

Land isn't a thing of value in and of itself if we can't work it.

The only use ramping land value has is as an inflationary tax by private banks on workers.

My $0.02 on this is we give the boomers+ a massive haircut right now. Just pull the rug right out from under them, their politicians and their banks.