In my neighborhood (just outside the M25, so desirable for younger families), at least half of the houses are occupied by old people that are rattling around in

In my neighborhood (just outside the M25, so desirable for younger families), at least half of the houses are occupied by old people that are rattling around in houses that are far to big for them. They are waiting as long as possible to downsize because they like the house that they have been in for 40 years, and the asset continues to appreciate. We bought such a house last year, where the old owners couldn't climb the stairs anymore and they moved to a retirement 'caravan' somewhere. Their similarly old neighbors thought that they were making a big mistake, but we suspect that they needed the cash. Four bedroom houses in commuting towns with garages and gardens, that are better suited to families, should not be endlessly lived in by retired people. As per a sibling comment, the social contract is broken, and there seems to be little incentive for existing owners to move the stock on.