I doubt there are too many young folks who live in $1,700 a month apartments by themselves. I would say that more the norm would be $600-$750 a month with a room-mate.

Every generation since the 1980's has had less money since the previous one. I am either a very young boomer or a very old X. I know I don't have it as good as those who are only 5 years older than I am, but I also know that I have a lot more than those who are 5-10 years younger than I am [[in general, of course there are exceptions).