If you won't be able to afford a house anyway, why bother working hard? Just do the bare minimum and at least enjoy some of your free time in a minimalist way.
It's a consequence of economic inequality we have created. If you want people to work hard you have to make it worth it for them, otherwise they check out of the economy, check out of having kids, etc. and blaming them for buying lattes, avocado toast and airpods isn't the real problem no matter how much you call them lazy and entitled.
Worker productivity has skyrocketed since the '70, but the workers' wage growth lagged far behind. What didn't lag behind was basic necessities like housing, education, healthcare, childcare. Good thing commodities like cars, TVs and smartphones got cheaper though, amirite?
People worked hard in the past because the local company they worked for contributed back to the community and was owned by locals you could see, interact with, hold accountable or riot against them, so even though those were still ruthless capitalists, they also had their limits at which they would exploit their own living environment and contributed back to the community in some way (trainings, apprenticeships, schools, hospitals, charities, kindergartens, etc.)
But now, after decades of corporate mergers and acquisitions, when most land, natural resource and means of production is owned by some giant faceless publicly traded mega-corp with HQ in some offshore tax heaven, who's only interest is extracting as much as possible from your community for the benefit of the shareholders, without giving anything back (not even taxes), and you are just a disposable commodity in an excel sheet for them, then why bother?