The boomer generation is delusional if they think they'll find exit liquidity for a house they bought for $40,000 in 1974 that's now "worth" $1,200,000, with mortgage rates closing in on 7%. Sure, you pay property taxes on that "valuation", but the market is easily 30% overvalued, and as more of that generation moves to sell... things should get interesting in the housing market. Home sellers in the US now outnumber buyers by 630,000, the largest gap ever recorded. Baby Boomers (born 1946–1964) hold ~$83–85 trillion, or ~51% of total US wealth. Millennials + Gen Z (born 1981 or later) hold ~$17–18 trillion, or ~10.5–11%. The idea that that your home equity should be your savings vehicle was popularized during perpetually falling interest rates after the 1980-82 Volker shock. That strategy worked brilliantly until inflation exploded and the Fed had to hike rates. I think a lot of people are going to learn the hard way that for a real price to be set in the market, the seller has to find a buyer. Overinflated assets look great on paper, but without liquidity... there is no market.