The short answer is yes, I think they certainly have it harder than us Boomers had it. Part of that is beyond their control and part of it is being seduced by Madison Avenue.
The minefield was certainly less dense back in my day.
I graduated college in 1969 from the City University of New York. It was tuition free and I lived with my parents and commuted until I graduated so no student debt.
I had a $300 1961 Mercury Comet that my dad gave me so no car loan. He replaced the Comet with a $150 Ford Fairlane.
There were no charge cards so no charge card debt.
There was no internet, cable TV or cell phones so these expenses just didn't exist.
Air fares were regulated so no one but the rich could afford to fly regularly. That meant that most vacations were pretty much limited to where you could get to by car.
With no internet there was no online shopping with all the potential pitfalls that come with that. Plus, every decent company provided good health insurance AND a real life pension.
As I've pointed out previously, tuition has significantly outpaced inflation and so have home prices while median salary has fallen short of keeping up with inflation.
The average price of a new car in 1980 was $7,500. Today it's $48,400. Just judging by inflation one would expect it to be $28,500.
On the plus the interest rates on the huge mortgages and car loans that you need are lower. But there are predatory lenders out there that are happy to take advantage of someone with a low credit rating.
So I think overall it's safe to say that things are harder but not impossible. Everyone starts out with little and has to work their way up. But it might take longer for the current generation than it took for us.
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