Challenges in the Housing Market and Economy

The housing market's intergenerational issues between baby boomers and millennials are concealing significant structural problems in the economy. With many baby boomers retiring, the economy is stagnating despite high employment rates. People's expectations of the economy are higher than in the past, leading to a feeling of doing worse if they can't maintain an upper middle class lifestyle. The previous era allowed people to live above their means through borrowing, but this is now changing, leading to a downward adjustment in lifestyles.