“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.

@davidnjoku

When I was at uni in the 90’s, there were already the ‘trustafarians’. People who swanned from one degree to another, not finishing one before they started the next, with the bank of mum and dad paying for everything and ‘writing off’ existing student loans…while the rest of us ate Tesco Value 9p bread and worked in pubs/fast food chains both during term time and holidays.

It’s got worse. I just don’t see the wealth being put back in the pot by the rich.