Why not both is because it would have to be about the people to be a generational issue.
It's a systemic issue, and economic issue that's certainly influenced by people, but if you gave the current generation the same economic advantages the boomers had, their scale would would be either the same or similar at the same ages.
It's a semantic thing, I guess.
Generations aren't the same as eras, though. Generations exist within eras, but eras don't travel with the generation in this context.