I guess it depends on your perspective. It may mean pain for some and relief for others with a view to moving towards a more optimal solution for society as a whole. How can we use our housing stock more effectively?

As things stand, people defend the status quo when young people and those on lower incomes are struggling with high rents and property prices. Some have kids and have to share rooms and live in small properties. Others may end up debt slaves for the rest of their lives.

>There are plenty of old people that are able to keep living in their existing home because it is familiar but would be unable to live independently in another home.

If they have a net worth of $1m+, I'm sure they can afford to pay for care. I am not talking destitue, improvished individuals.