Every generation gets a label, a reputation, and—if they're lucky—a catchy insult. Millennials were accused of "killing" everything from department stores to mayonnaise. Gen X got called slackers. And boomers? Well, lately they've been cast as the villains of the modern economy.
But a 21-year-old on Reddit wanted a serious answer. Posting in the r/AskEconomics forum under the title "Did boomers actually ruin the economy for younger generations?" he said friends and "left-leaning news headlines" blame boomers for today's struggles, while his mom insists "young people are poor because they don't want to work a 9-to-5." Unsure which story held more weight, he asked economists to weigh in.
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Several respondents said the truth is more complicated than either side's soundbite. One explained that economists rarely deal in generational labels—terms like "Millennial" or "Gen X" came from marketing departments, not academia. The commenter doubted mom's claim but added that, overall, younger generations may still earn more over their lifetimes than those before them. The big difference? Housing affordability. While it affects everyone, it tends to hit younger adults hardest, especially those just starting out.
Others argued that income stats alone don't tell the story. Real wages and cost of living matter, and decades of inflation make direct comparisons tricky. Yes, salaries are bigger on paper, but that doesn't necessarily mean buying power has grown the same way.
A 2024 survey found that 73% of millennials work more than 40 hours a week, and nearly a quarter top 50 hours. Gen Z isn't exactly clocking out early, either—82% say they work nights and weekends, often in addition to their standard hours. That grind looks different from the rigid 9-to-5 of decades past, but it's hardly lazy.
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Housing became the biggest point of contention. Some said today's tight market stems from decades of policies shaped by boomer-era political influence. Others pushed back, claiming there's no nationwide crisis—just a shortage in expensive metro areas, where younger people often choose to live for job opportunities, nightlife, and convenience.
A Redfin survey released in June found that one in three boomer homeowners say they'll never sell, while another 30% don't plan to move for at least a decade. With U.S. homeowners now staying put for nearly 12 years—double the average in 2005—the supply squeeze is real, and it's hitting first-time buyers the hardest.
A few took a philosophical approach. Generational blame, they said, is nothing new—today's critics will be tomorrow's targets. In a few decades, the same 21-year-old asking the question may be fielding complaints from an even younger crowd about how his generation "ruined" something.
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Others saw the entire boomer-vs-everyone narrative as a distraction. They argued that lumping millions of people into one category glosses over how diverse any generation is, both in wealth and influence. Not every boomer benefited equally from post-war prosperity, and not every young adult today is struggling.
Whether you're 21 or 81, chances are you've got a theory about who's to blame and why. Maybe it's the policy decisions that favored homeowners over renters. Maybe it's decades of wage growth lagging behind the cost of living. Or maybe it's simply that each generation inherits a different set of challenges than the one before.
What's clear from the thread is that the economy isn't the work of one group alone—it's the product of shifting politics, cultural priorities, and market forces that keep evolving.
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