Have to agree with parabellum re the Australian Gen 'X' and 'Y' and housing. Start out with a three bedroom, one bathroom box in not the best suburb like the Boomers did? No way - it has to be the McMansion with home theatre and everything that opens and shuts - now - and a mortgage they'll never be able to repay.
Not sure what that has to do with the topic of this thread, but I for one wouldn't want to still be flying back of the clock long haul at age 70. I wouldn't want to be doing it at 65! However, I know there are quite a few out there who can expect to live quite a few more years who, thanks at least in part to the craziness that we have seen overtake our (once) profession with the introduction of deregulation, don't have the wherewithal to retire at 65.
If some studies I've seen are to be believed, the older you wait to retire, the shorter you'll survive in retirement, so there's a real conundrum facing us there, isn't there? Retire early and you won't have enough money to live on. Extend your working years and your money will last - if only because you'll die earlier. Screwed whichever way you go - which is a situation most airline pilots would be very familiar with!