parents and helping their parents basically manage retirement into the end of life and inheriting their homes, so that much of that would happen. Where is your thesis different on this? You may be right on that one. I wouldn't want to go to the great lengths to try and disagree with you. I think our argument was rather that old people don't like moving because it's very stressful. They mostly paid off their mortgage, so they don't have to. And as the children eventually leave home, what you will get will be a misallocation of floorspace with the old staying on rattling around in a larger house than they need because they don't want to face the reality of selling up and maybe going to an old people's home. And that therefore the children, as and when they leave, have to buy houses of their own because there's an overall misallocation of floorspace. Now, if the children of course stay at home, then that your counter argument would hold. But at the moment, of course, housing prices have (35/43)
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