I think this must all be dependent on where you live. My relatives in Scotland including my 21 yr old nephew are all in social housing and seem to have no bother going in and out of it when they fancy it.
That's not to say I don't have sympathy, I totally agree that housing costs are too high, but equally I think we have much higher expectations of living standards these days. As someone whose parents grew up as one of 7 children in a 2 bed house (the parents slept in the living room), I think on a relative basis the vast majority of people are much better off these days despite the trials and tribulations of current life. No-one had a car, they walked several miles and travelled on buses for hours every day to work (1 bus every 7 days). They ate the scrag ends of meat from the butcher (stovies anyone), didn't have central heating (coal fire carefully used) and never had new clothes, jumble sales, hand-me downs etc. This was not a particularly poor existence in terms of relativity - my mother frequently tells me proudly they were one of the better off families in the village!
Even I growing up as the daughter of a teacher and a bank worker only ever got meat once a week and boy did my mum make it last. I pretty much never had new clothes and until I was 15 I shared a room with my brother (he then had to move in to a room with my other 2 brothers as I wouldn't share with him any more). I also had never been abroad until I was about 17 (I am 36).
I know things are harder now than they have been for the last 20 years and I do sympathise, but seriously 2x mobile phones, a littlewoods account, internet, sky - these are luxuries on a historic level. Relatively poor yes, absolutely poor - no!
I genuinely think anyone who thinks our children are worse off than our parents were at their age needs to seriously look at living conditions back then. The problem is that in between our parents generation and our childrens, we have had golden years - those were unsustainable and we need to recognise that a lot of it has been self-inflicted (though personally I blame the baby boomers!).