In addition to your observation, the tone of this article suggests that young people have some right to live in Manhattan or to own a $400K condo by the beach in San Diego. I'm a millenial, and I'm not aware of such an attitude among my parent's generation. It seems perhaps my generation has greater expectations than our parents' while also having worse economic circumstances. Even still, $100K household income is an affordable middleclass lifestyle outside of the downtown area of major metros.
And still, the article reads to me like "upper middle class kids have it so hard today because they can't get as rich as their parents too easily".
The economic shift is real, but the wealth of our MIDDLE CLASS parent generation was an oddity in itself, not comparable to the reality of most people now OR then.