I think the issue is actually bigger than this. The economy seems to continue to be white-hot despite everyone claiming its doing terrible and everything costs too much etc.

people are eating out more than ever before, getting delivery more than ever before, and vacations are also booming. consumption is up no matter how you slice it.

i think a lot of the younger generation have completely given up on the idea that they are ever going to own a house and instead of saving for that are just blowing it on food, booze, vacations etc.