Middle class financial issues in the US are age related. College debt, cost of raising children, buying a home combined with low entry wages put young people in a hole it takes 10-30 years to crawl out of. But when they do they quickly accumulate wealth. There are also a lot of people who choose to not save. That is a choice you don't have to make.
Either that or private equity firms buying all the nursing homes siphon off the wealth transfer as the boomers wither away.
Home equity is often the first real wealth American families accrue.
Most of the time, by the time a parent dies, the children all have homes already.
> private equity firms buying all the nursing homes siphon off the wealth transfer as the boomers wither away
The defense for this are living wills and trusts that transfer wealth from the elder and shift the burden to public insurance (Medicare). Most of the senior care world is grifting off of government money.