if they keep it until they die, the basis resets to its current value and their children can sell it and pay no taxes on the sale, because there would be no gains.
Good points. Maybe I run in different circles than others here, but don’t think I know a single multi-generational family where the oldest generation — typically retirees in their 70s and 80s — are NOT the ones who have the greatest need for income/revenue right now. I suspect it’s just a tiny fraction of Americans who find themselves sitting on a seven-figure pile of equity in their primary residence at the age of 75.