But I am sure you paid more in income taxes in London. Which policy do you prefer? In my opinion taxing wealth is always a better idea than taxing income..
Where I live, you have to be 65+ and own 60+% equity in the home. The problem is that some old rich people are moving in, paying cash for property, and then deferring. They aren't exactly the intended beneficiaries of the scheme.
If you want to tax idle wealthy people, it's simple: tax their investments. This means a stock transaction tax, since so much wealth is tied up in stocks. You can also tax additional real estate properties (i.e. no property tax for a primary residence, but tax vacation homes, rental houses, etc.).