Daniel Priestley

The average American over 65, so more than half of the US economy, is in the hands of baby boomers, right? So they own all the houses. The houses got bought up cheap. Baby boomers still own those houses to this day. The big family homes with multiple spare bedrooms are empty. And now that creates this traffic jam where people my age... My grandparents, they all owned property.

There is half the economy held by baby boomers. It's either going to be passed down or passed into the aged care industry or passed into... But the issue of why we can't get homes, two things. Government massively inflated the value of homes through debt. So they just injected like low interest rates that you're involved in. Who is the debt to?

There is half the economy held by baby boomers. It's either going to be passed down or passed into the aged care industry or passed into... But the issue of why we can't get homes, two things. Government massively inflated the value of homes through debt. So they just injected like low interest rates that you're involved in. Who is the debt to?

Well, the debt is to anyone who can take out a loan because if 0% interest rates or 2% interest rates... Do you think it's the debt to ordinary families?

Well, the debt is to anyone who can take out a loan because if 0% interest rates or 2% interest rates... Do you think it's the debt to ordinary families?

When you say ordinary families, you mean... bottom third. So if your average British or American family now has half a million pounds of debt, who has the credit? It's anyone who could get their, at that particular time, anyone who could get their hands on a loan to buy a house. But who has the credit? Who is on the other side of the debt?

When you say ordinary families, you mean... bottom third. So if your average British or American family now has half a million pounds of debt, who has the credit? It's anyone who could get their, at that particular time, anyone who could get their hands on a loan to buy a house. But who has the credit? Who is on the other side of the debt?

Well, a lot of people have got a lot of equity in their home now.

Well, a lot of people have got a lot of equity in their home now.

I'd love to look at what the actual number is, but it's a couple of hundred thousand worth of equity. What about the credit on the loan? The credit on the loan? Who owns the credit on the loan? Bear in mind, it's disproportionately older people.

I'd love to look at what the actual number is, but it's a couple of hundred thousand worth of equity. What about the credit on the loan? The credit on the loan? Who owns the credit on the loan? Bear in mind, it's disproportionately older people.

Not millions of cash, no.

Not millions of cash, no.

Just want to say, the difference is if you inflate the value of a house, you don't have cash, you have a house that's worth a lot of money. So 78% of home ownership wealth is in the hands of people over 65 now. It's baby boomer generation. And they got a great gift from the government, which is the government said, we're going to just give free loans away.

Just want to say, the difference is if you inflate the value of a house, you don't have cash, you have a house that's worth a lot of money. So 78% of home ownership wealth is in the hands of people over 65 now. It's baby boomer generation. And they got a great gift from the government, which is the government said, we're going to just give free loans away.

If someone previously could have only afforded to take out a 200 grand loan with low interest rates, they can afford a 300 grand loan.

If someone previously could have only afforded to take out a 200 grand loan with low interest rates, they can afford a 300 grand loan.

The issue is not whether it's okay or not. The issue is what do you do about it? Do you own wealth?

The issue is not whether it's okay or not. The issue is what do you do about it? Do you own wealth?

But is it okay? Well, it's not okay. No, we want widespread affluence.