“Yes, there is intergenerational inequality in property ownership. But one day the boomers will die, and then their children will inherit their wealth, much of it property-based. It’s already begun to happen, and it’s being called “the largest intergenerational transfer of wealth ever…and will amount to something in the region of £4 trillion”

This he rightly acknowledges will create a “gap between people who inherit property wealth from their parents and people who don’t”.

#WealthGap

I’ve raised this concern here before, because the distortions that already exist among Boomers are only going to get magnified in the generations that inherit their wealth (or don’t).

Those who don’t own their own home won’t be passing it on. So those living in social housing - many of whom are or were single mothers or disabled.

Those who require extensive care towards the end of their lives, may have already sold their homes to pay for it.

The existing #wealthgap will be given steroids.

But what I don’t think Lanchester quite has space to tackle is within the Boomers whose wealth will be passed on there are a sizeable chunk of the nation’s private landlords.

It’s not just one property in a desirable postcode being handed on, it’s mini property empires on which I’m sure their financial advisors will have already advised them on how to get through the loopholes of inheritance tax.