Older Boomers and some Xers have houses, but the terrible job market necessitating frequent moves kept resetting that payoff date so most will be lucky to be debt free by the age of 80. Depressed wages made sure their Social Security payouts will be inadequate and you can forget the idea that most of us were able to save or invest. Retirement means only that we drop back to part time, dead end jobs, usually a patchwork of them so we can afford to put food on the table, pay the mortgage, and manage our Medicare payments.
Meanwhile, their kids are drowning in debt before they can even think about buying houses to live in, thanks to those depressed wages being inadequate to educate the kids. The job market for them is even worse and a lot of them are starting to "downsize" to the point they're living in what used to be considered garden sheds, moving them from campground to campground as they follow dwindling jobs around the country.
American dream? Welcome to the American nightmare that has turned into a living hell for the 99%.