Generation Z is unprecedentedly rich
An Economist piece arguing that Generation Z is “unprecedentedly rich” prompts scrutiny of how prosperity is being measured. Commenters note that while young workers’ wages and employment rates may look strong on paper, high housing and education costs, student debt, and asset inflation undermine real wealth accumulation and homeownership prospects. Several also highlight growing inequality within the cohort, shifting lifestyle expectations, and potential flaws in official inflation and cost-of-living metrics that make cross-generational comparisons unreliable.
Measuring “richness” and wealth
- Many argue the article conflates high income and employment with true wealth, which should focus on net worth and assets.
- Supporters highlight unusually fast wage growth for 16–24-year-olds and similar or lower shares of income spent on housing/education vs past cohorts.
- Skeptics counter that equal budget shares don’t capture what quality of housing or education younger people get for that money.
Housing, education, and intergenerational support
- Repeated claims that housing and college costs have outpaced general inflation, making asset accumulation harder despite higher wages.
- Some note under‑25s rarely bought homes in any generation, so comparing homeownership at that age can be misleading.
- Intergenerational wealth and parental help (for down payments, tuition, gifts) are seen as increasingly important; this deepens divides between those with and without family support.
- Debate over how realistic it is that parents could have “just given” large sums (e.g., $100k) to newborns; averages vs medians and illiquid home equity are emphasized.
Cost of living, lifestyle, and inequality
- Anecdotes suggest higher consumption of travel, nicer housing, dining out, and premium cards among today’s 20‑somethings, sometimes enabled by delaying or avoiding children.
- Others say this illustrates a split: those who “make it” enjoy unprecedented comfort, while those who don’t face slum‑like conditions and feel the path upward is blocked.
- Expectations of “middle class” life (location, vacations, restaurants) are believed to have risen, making past standards look inadequate.
Critiques of data, inflation, and methodology
- Several commenters distrust official inflation statistics, arguing housing and education are underweighted and low interest rates masked real price growth.
- Some say the article cherry‑picks ZIRP‑era (near‑zero interest rate) data and uses averages instead of medians, overstating broad prosperity.
- Others defend the use of standard metrics and caution against rejecting data simply because it conflicts with popular generational narratives.
Youth socializing and car‑centric culture
- Discussion of declining in‑person socializing times: possible causes include car‑dependent environments, increased parental risk aversion, and more structured activities.
- Some think the built environment changed; others think parenting norms did. Virtual socializing (including gaming) may not be counted in statistics.
Young founders, CEOs, and innovation
- Skepticism toward claims about thousands of Gen Z CEOs and politicians without context on company size or role definition.
- Perception that high‑profile ultra‑young consumer‑tech founders are rarer; many younger founders now operate lower‑visibility B2B SaaS companies or are acquired early.
- One cited study claiming declining innovation by young people is noted as having been challenged by newer research.