Affordable housing and health care is really what it comes down to. Food is as cheap, inflation-adjusted, as ever. Quality, reliable, transportation is as cheap as ever. College education is free in many places of the world, but a luxury in the US with the way it's taught. Employers are coming around to the fact that it's not a good signal any more, so the reasons to go ~50k+ in debt for a questionable degree are ceasing. The rest of millennial spend are generally luxuries. They can't afford to keep going with the conspicuous consumption and status-signalling that other generations could. But that's not what we should care about improving.
We need to start tackling the insane complexities of the US health system and the complete failure of building regulations to provide an affordable place for the next generation to live.
> College education is free in many places of the world, but a luxury in the US with the way it's taught.
Community college is extremely cheap and free in several states like Tennessee. In state tuition at most state schools will run $30k max on the remainder. Not cheap, but for the income gains...not expensive.
We need to start tackling the insane complexities of the US health system and the complete failure of building regulations to provide an affordable place for the next generation to live.