I think the “vibes” being off is a factor of lower perceived upward social mobility, and simultaneously higher perceived downward mobility (in the future).

And it could be due to how easy it is to see and experience people who are better off than you, and “knowing” you will likely never get there, or that the rising tide will lift their boat higher than yours.

And it could also be due to changing demographics, which are obviously drastic, especially due to lower fertility rates. Everyone knows changes must be coming, but exactly what changes and in what capacity are unknown.