In the UK I can see a similar pattern to what has gone on in the U.S. so I am willing to agree with the author. With anything psychology it can take many years

In the UK I can see a similar pattern to what has gone on in the U.S. so I am willing to agree with the author. With anything psychology it can take many years to spot what is truly going on and to have the words to understand that. By nature we are deferential to our parents and live life by their values. The classic for me is the boomer advice to their children to save like they did to buy a house like they did. The boomer houses get chopped up into flats costing £500000 each, so a boomer house is probably a good £1.5M and that is a lot more than the inflation adjusted amount that they paid. Easily ten times the amount. That is a lot of cash to get out of the younger generation for them to buy boomer property. With the advice to save and buy a house there is no appreciation that the situation has changed, any protests will be met with how the younger generation have to just work hard like they did. They can't be told that their generation stole the wealth. There was extremely high inflation in the 1970's when the property-as-investment craze got going. Property was always kept out of the inflation index even though rent/mortgage is the biggest expense anyone pays. House price inflation has been double digit and always praised as a good thing, which it is for the boomers. There are years when the property market crashes but boomers can ride those situations out, they can still borrow against property.