This is because our current economy is skewed towards consumption with real estate and cars as the primary metric. I agree, I don't see it as a negative. I'm Gen X and I don't own a house or car.
It all depends on where you live and what your local market is like. I have a kid, and still don't need a car or house. I also live in NYC, so it's easy to do that. If I lived someplace like Houston, where there is almost zero public transport and houses are crazy cheap I might rethink things. That said, don't buy into social groupthink, don't buy a house if it doesn't fit your sensibilities.
Consumption is the driving force of modern capitalism generally, not particularly related to the current economy. Capitalism relies on surplus; the problem with this of course is that is wasteful but it seems we don't really have an equally successful alternative.
indeed, by freeing up the money that is tied up in mortgages/car loans and burnt as oil, can't we put that money and those resources to far more productive endeavours.
I don't like The Atlantic's title: it implys what is happening as negative.