I agree that what we are witnessing is true in that it is mostly based upon financial reasons, but I believe that a LOT of the difficulties are brought on those same people that don't set long-term goals. They are a "right now" generation that think they must have a new, fancy car and don't even get me started on having the latest smart phone.
On the day my parents bought a new car, they started saving for the next one. They always paid cash for their cars and any home improvements. They didn't have a single credit card and had no use for one. They instilled their values upon me and I was able to retire at 44 and only picked up odd jobs when I wanted to and not when I needed to.