Because that the real estate that boomers own appreciate much faster than the general rate of interest in society, and with little or no labor input required. Also because the payoff from investment was much higher in the years after the war up till the 70s and the energy crises.
And of course, after women entered the workforce en masse, the labor supply increased significantly meaning that the wages dropped relatively to hours worked, a trend thathas kept steady since then. This means the ability of younger generations to both make a living, pay off debt and after both of these, accumulate savings in real terms, are severely diminished.
All because land value is treated as private property. First come, first served.
#econ #lvt