Great article in Newsweek: When Should Parents Stop Paying the Rent?
According to Wikipedia, Generation X includes people born between 1965 and 1980. Generation Y covers the years between 1980 -1994.
Sometimes a few years make all the difference. I am clearly a Gen Xer, while my younger sister (1980) and brother (1981) fit the Generation Y profile.
The difference being: My peers don't have parents subsidizing their lifestyles. Instead, Gen Xers are overwhelmed with debt-- from credit cards, mortgages, car payments, and the last few years of payments on our student loans. A completely different form of financial irresponsibility.
I blame it all on the Baby Boomers.