I wouldn't ascribe it to cynicism. It's true that young people spend stupid amounts on luxury items, like the flagship smartphone every few years, which looks much like irresponsibly high time preference. I think most of the older generation don't realize how much harder it is to achieve house ownership today. They had a much different situation: good wages and cheap houses when they were young, then booming stock and housing markets as they made their way into wealth, now cushy retirement money coming in every month. The lesson they naturally internalized is that if you just work, you'll be fine.

It's very hard to put yourself in someone else's economic shoes. I think the only ones who really get it are the financially savvy parents of kids who now "should" be able to buy a home, and who help them run the numbers and realize... they're screwed