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Notes -
That's the difficult part of anecdotes, that people's mileages may vary.
While in different industries, both I work and my father worked in front-office white-collar roles. My parents (well, my father) had to pay off a mortgage on my childhood home, which was a nice one in a nice place. If I sold some ETFs I could buy my childhood home in cash today—twice over—even though it has substantially increased in price from the time I was a kid, as it was in and perhaps still is in a booming area.
Electronics are obviously a given, but looking back on childhood photos (or before they had me), it's rather stark that even my furniture is nicer-looking than what my parents had when they were around my age. I don't think either of my parents would had been aware of a foodstuff known as a "burrito" at my current age.
At the same time, both my parents and I—and our nuclear and extended family in general—concur on a vibes-based front that there may be some sort of perceived quality of life decrease for young people that's not wholly captured in statistics. However, we're generally optimistic for the Millenial, Gen Z, and Gen Alpha future going forward, although competition for white-collar jobs may be increasingly stiff (but it has always been increasingly stiff from the time my parents/uncles/aunts/older cousins were young).
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