> This idea that middle class boomer parents could afford a luxurious lifestyle for their families is not all that truthful.
“Middle class” has a slippery definition, but it is definitely the case that by many measures Millenials are, overall, seeing worse family financial conditions any any given age than Boomers did (e.g., median real wealth is lower for Millenials than it was for Boomers the same age.) There is also indications that this is accompanied by much greater in-generation disparity (e.g., 90th percentile wealth is higher for Millenials than it was for Boomers of the same age, despite the median being lower.)
“Middle class” has a slippery definition, but it is definitely the case that by many measures Millenials are, overall, seeing worse family financial conditions any any given age than Boomers did (e.g., median real wealth is lower for Millenials than it was for Boomers the same age.) There is also indications that this is accompanied by much greater in-generation disparity (e.g., 90th percentile wealth is higher for Millenials than it was for Boomers of the same age, despite the median being lower.)
Particular examples are from https://thehill.com/homenews/4319352-are-millennials-worse-o...