Canada

Grandma and grandpa did absolutely nothing to earn that money. They paid $50k for that property and house. Why does society owe them $700k for their retirement because of that?

You're right that it's unlikely to go over well, but that's because people are greedy and don't care about the harm it's causing the next generation.

My wife and I have made about as much as a full additional third income in equity appreciation over the last 15 years by simply living in a house. We did nothing to earn it. I'd trade it in an instant for the house prices to go back to what they were 15 years ago.

That money has to come from someone, it's a giant pyramid scheme that should never have existed in the first place. Our kids are absolutely fucked, they will never be able to afford a reasonable home because we have treated homes as investments and by default investments need to appreciate faster than inflation.