Disagree. Real wages are ahead of all market sectors except medical and rent. People are making a bad comparison--they look at what they have vs what their parents have and see their parents doing better. Yeah, 20 or 30 years later in their career, plus a lot of time building up assets, that's actually to be expected. The proper comparison is between cohorts, but that can only be done by digging into the data, not by experience.
Wealth inequality? The majority is from comparing those starting out to those at retirement. Likewise, the majority of income inequality is hours worked. (Not to say that there aren't other factors, but in both cases when you compare apples to apples it explains more than half the range.)
But their parents didn't need 20 or 30 years to build up their assets, or did they? They could purchase a new car when they were in their prime at 20-30 years old. Real estate they already had before buying the car. People who are in their prime today have to wait to be 50+ to have real estate, and if they want to have a new car they have to forgo that.
My parents, both PhD's. AFIAK first car (they had lived where they didn't have as much need of one) was in their 40s. First house in their 50s. We bought our first house (bigger and better than anything my parents ever owned) when I was still in my 20s. (She's older but did not come with any assets beyond her education.)
Wealth inequality? The majority is from comparing those starting out to those at retirement. Likewise, the majority of income inequality is hours worked. (Not to say that there aren't other factors, but in both cases when you compare apples to apples it explains more than half the range.)