Beth Kobliner: "People in Their 20s and Early 30s Have It Harder Than Any Generation" In The Last 30 Years

University of Michigan data show Americans aged 18 to 34 reaching the worst Consumer Sentiment Index level since tracking began in 1978, falling below the 2008 Great Recession and the 2020 pandemic—about half the level millennials saw a decade ago. For the first time, young adults are more pessimistic than people over 55. In the Afford Anything podcast, personal finance author Beth Kobliner says those in their 20s and early 30s “have it harder than any generation” she has covered. She cites a Jobs Paradox: overall unemployment is 4.2% as of June 2026, but unemployment for recent college grads aged 20 to 27 is 5.6%. Housing gets worse in her math: first-time median prices are $430,000 versus $280,000 30 years ago after inflation. Home price index is 335.1 in May 2026, and she notes delaying family formation—median first-marriage and first-birth ages have risen. Kobliner also references shifting behavior, including a study that found 96% of gamblers lose money over five years, while prediction-market winnings concentrate among the top 0.1%.