The Great Boomer Declutter is under way
The Great Wealth Transfer has never felt more under way. Boomers who own more than half of owner-occupied housing in Britain are now grappling with the practicalities of downsizing. It is estimated that in the next 20 or 30 years, boomers will pass down between £5.5-7 trillion worth of assets and, according to Savills, around £2.9 trillion of that is held in property. Boomers who are living in houses that they have been in for decades are looking to their millennial children to shoulder some of the burden of their boomer junk, prompting much Swedish death cleaning and decluttering. This seems like a fair trade given that in many cases, these children stand to inherit their fortune; better still for them, this is set to double by 2035.