There's a recent podcast that talked about this if you have 15 minutes to watch a segment: https://www.youtube.com/watch?v=bYRCYdxVMaM

TL;DR Gen Z is "slightly better off" in pure financial status compared to older generations , even with inflation adjusted. But the distribution on what got cheaper overtime and what got more expensive is causing the true strain among Gen Z.

It also helps to explain a bit of a generation clash when you see how older generations can chastise the younger ones over what were "luxuriies" when they were that age. The entire market is flipped.