John Stossel challenges narrative Gen Z is worse off than Boomers were at their age

Stossel highlighted a popular narrative among young social media users who say baby boomers could buy homes and provide for their families on a single income, while today’s economy makes such goals far more difficult. He pointed to viral videos of young people lamenting the high cost of living compared to the supposed affordability of the mid-20th century.

Norbert Michel, vice president of the Cato Institute, appeared in the video to dispute those claims. “The idea that nobody had to work hard, that everybody had job security…is absolutely ridiculous,” Michel said. “Income is definitely higher, jobs are more plentiful, opportunities are more plentiful.”

Citing census data, Stossel noted that the US homeownership rate in 2025 is higher than in 1950, at 65 percent compared to 55 percent. Michel also pointed out that homes today are significantly larger and equipped with amenities like central air conditioning, dishwashers, and laundry machines, which were rare in the mid-20th-century homes.

Stossel further pointed out that Americans now enjoy a lifestyle with far more conveniences, such as dining out frequently and traveling. Adjusted for inflation, he noted, a cross-country flight once cost $1,000 for Boomers, but now averages around $300.

Both Stossel and Michel concluded that nostalgia for a “simpler” economic past is inaccurate, and data show that Americans today live with greater opportunity than earlier generations.