The younger generation seems to require more, no doubt inspired by MTV Cribs. For example, my sister-in-law requires a larger house furnished entirely by Restoration Hardware, whereas my parents bought a ranch furnished with DIY furniture kits.
Education cost inflation - beyond anything your dad could ever imagine - is a huge problem in the US ...but market forces will solve this most likely in a very unpleasant way. Health insurance costs are another issue. These are the two primary culprits I see causing trouble. Yes, its probably unfortunately true that future generations will have a much tougher time....