Viral TikTok Explains Why Millennials and Gen Z Struggle Financially Despite Owning Luxuries

(WCTU 13) — A viral TikTok video from creator @GenericArtDad, real name Chris Gad, is making waves with over 800,000 views and for good reason. It perfectly articulates the growing frustration over the modern cost of living crisis, explaining why younger generations feel financially stuck despite owning things like big-screen TVs, smartphones, and gaming consoles. The video resonates because it puts into words what many have suspected: the economy has changed, but the way we talk about money hasn’t.

In the video, Gad breaks down a striking comparison between past and present financial realities. In the 1970s, the average house cost around $40,000, with a down payment of roughly $5,320. At the time, a 21-inch television cost about $500—meaning just over 10 televisions could equal a home down payment. Back then, discretionary spending had a noticeable impact on financial security.

Today, a 55-inch 4K TV still costs about $500, but the average home down payment has skyrocketed to $102,600. That means it would take about 206 TVs to equal the cost of a down payment. “This is why older generations look at the things that we buy and say we’re being fiscally irresponsible,” Gad explains in the video. “Because they’re operating from a worldview that they developed when they were coming up.”

His argument highlights a critical issue: while wages have remained relatively stagnant, the cost of essential goods like housing, food, and healthcare has exploded. Unlike discretionary spending, demand for these necessities remains steady because people cannot simply opt out of them. At the same time, companies selling non-essential goods—such as televisions, furniture, books, and even art—have slashed costs through mass production, resulting in cheaper but lower-quality products.

“This is why everything feels shitty while we also have a ton of things,” Gad says in the video. He points out that many people buy their art from big-box stores rather than independent artists, not because they don’t appreciate originality, but because their financial constraints leave them with few alternatives.

Some have described this phenomenon as "bubblegum dystopia"—a world where economic uncertainty, food scarcity, and housing instability exist alongside high-tech distractions, constant entertainment, and rapid consumerism. While older generations focus on cutting small indulgences like daily coffee, Gad’s viral video argues that these choices make little difference when the real issue is systemic cost inflation across necessities like housing, healthcare, and education.

His message has resonated widely because it doesn’t just explain the problem—it validates the frustration of younger generations who are often blamed for their financial struggles. The economy has changed, and Gad’s video makes it clear that outdated financial advice no longer applies. The math simply doesn’t add up.

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