> I respond by letting her know she will be able to buy a house if she wants one
I assume she's good at math? I'm sure she's solved way harder math problems than calculating how long it will take to save up a $200k down payment when you make $4k a month and pay 80% of that in rent and taxes.
> the economy will always be good for people who are work smart and hard,
Ummm....well, if that's been your experience, God bless you man. But you are writing a check you can't cash if you say it will be true of your daughter's generation.
Is it really even a good idea to emphasize hard work? My teachers/parents always said if I worked hard enough I would succeed, but man, this has only made me work 50, then 60, then 80 hours a week, desperately trying to turn an inherently doomed project into a success.
I've worked waaaay harder on my failures than on my success. That one time I was competing with a team of 5 russian Ph.D.'s to see whose software library would go into the product. That one time at a startup, where I found out too late that the founder always fires all his workers before their stock options vest.
Even my failed marriage!! I worked harder trying to keep things together than I ever worked on anything. With my current wife its not work at all. If you just tell your daughter that hard work will always ensure success, you are just setting her up for serial burnout after burnout.
If you are working hard, that's not a sign you are winning, its a sign you are losing.
And blaming it on social media is just shooting the messenger.