It seems that Nigel Wilson, head of Legal & General, is in agreement with us here. What’s really interesting is his views on “rightsizing” for the baby boomers. By building homes and communities with great facilities specifically for those closing in on retirement they may well choose to “rightsize” and release existing larger family homes onto the market.
It’s understandable that they worked all their lives for their home but paying all the extra costs it takes for a couple to rattle around a four bedroom home once the children have left really isn’t helping them either.
House price growth has created severe intergenerational unfairness, he argues, in response to Telegraph readers.