Are we pretending that millennials are affording apartments alone? Cause I know very few doing that. Moving back in with your parents, though, that shit's common.
It's getting measurably worse at a fairly predictable clip - boomers had it easy, x/y less so, it's dark for milennials, and impossible for zoomers/alpha.
The guardrails were removed and wheels set in motion by the boomers so they could more effectively ransack the economy - everything since then has been a consolidation of wealth and power at the direct expense of workers.
It is actually worse each time, though. In previous times, it was "oh lordy, prices are going up, shucky darn, guess I will only have 2 pieces of avocado toast each day from now on". Now people just can't even get by.
I'm in the Midwest. Most millennials I know are living on their own or with their partner. However, the younger millennials and gen Z I know? Very few I know aren't living with parents.
I'm in Seattle, most of my friends have roommates or moved back in with their parents (which I did in 2020 when I lost my last job). I am making slightly more than my last job now with a second degree but after inflation I'm making quite a bit less and rent has gone up significantly since then. So I still can't afford my own place.