Our generation is definitely screwed compared to recent past ones, but I don't know enough about the younger kids to say if they've got it any better than us.
I think that if you check, you'll find that pretty much every generation in history has said pretty much the same thing.
I suspect that your analysis of the current generation is about as wrong as all the others....
By the by, do remember that GDP per capita doesn't actually map well with FAMILY income. My parents, for instance, had three kids, with Mom as a stay-at-home mom for all but a few years of my childhood. So five of us were being supported by one salary. So if we had a per capita income of 1/8th your income, as a family we had 5/8th of your income. And while there are a lot of expenses that are proportional to number of people (food, for instance), there are also a lot that are not (home mortgage doesn't really care how many people are in a family - it doesn't go up when another kid is born, ditto electricity, gas, water bills...).