Core Viewpoint - The article discusses the economic struggles faced by Japan's 60s generation, highlighting their transition from being the "luckiest generation" to experiencing significant debt and unemployment issues during their middle age [2][3]. Debt Crisis of the 60s Generation - The 60s generation faced severe debt issues, with average household debt reaching nearly 20 million yen, the highest among all generations at the time [3]. - This debt crisis was largely due to their home purchases coinciding with the peak of the real estate bubble in the 1980s, where land prices surged over 150% [3][4]. - By 1995, over half of the 60s generation households owned homes, but the anticipated rebound in property values never materialized, leading to a 20-year decline in housing prices [5][4]. Employment and Income Challenges - Following the bubble burst, companies struggled with high labor costs, leading to a significant drop in employee salaries starting in 1995, with disposable income for the 60s generation decreasing by nearly 25% [8][9]. - The unemployment rate for middle-aged individuals rose from 1.5% to 3% between the early 1990s and 1998, with many older workers losing their jobs and facing difficulties re-entering the workforce [9][10]. Credit Loan Crisis - The rise of unsecured credit loans became prevalent, with the market growing from 4.5 trillion yen in 1994 to over 10 trillion yen by 2000, primarily used to service existing debts [10][11]. - High-interest rates on these loans, often exceeding 30%, led many families into a cycle of debt, exacerbated by aggressive collection practices [11]. Family and Social Dynamics - The 60s generation also faced a significant increase in divorce rates, with over 2.77 million families divorcing in the decade following 1995, largely due to economic pressures and changing family roles [13][14]. - The traditional family structure, where the husband was the sole breadwinner, became unsustainable, leading to increased tensions and breakdowns in family relationships [14]. Long-term Consequences - By 2022, the average debt for the 60s generation remained around 6 million yen, double that of the previous generation, indicating a lasting impact of the economic turmoil [20]. - The societal perception of this generation shifted from being the "warm spring generation" to the "bubble generation," reflecting their once prosperous lives that turned into prolonged hardship [20].

Core Insights - The article discusses the transition of Japan's 60s generation from being considered the "lucky generation" to facing severe economic hardships, including debt and unemployment, during their middle age [1][2][19]. Debt Crisis - The 60s generation faced a significant debt crisis, with average household debt reaching approximately 20 million yen, the highest among all generations at that time [2][4]. - Many individuals in this generation purchased homes during the peak of the real estate bubble, leading to substantial financial burdens as property values plummeted after the bubble burst [3][4]. - By 2005, the average housing prices had regressed to levels seen in 1981, resulting in many homes becoming negative assets for this generation [3][4]. Employment Challenges - The 60s generation experienced a widespread unemployment crisis in middle age, exacerbated by corporate cost-cutting measures and a shift towards hiring younger, less expensive workers [8][9]. - From 1995 to 2005, disposable income for households in this generation decreased by nearly 25% due to salary cuts and layoffs [8][9]. - The unemployment rate for individuals aged 30 to 40 rose from 1.5% in the early 1990s to 3% by the late 1990s, with many older workers struggling to find new employment [9][10]. Credit Loan Crisis - The rise of unsecured credit loans in the mid-1990s led many households to borrow to pay off existing debts, creating a cycle of debt that was difficult to escape [12][13]. - By 2000, the scale of the credit loan industry had surpassed 10 trillion yen, with a significant portion used to service existing debts, particularly among the 35 to 45 age group [12][13]. - High-interest rates and aggressive collection practices contributed to a growing crisis, with many individuals facing harassment and financial ruin [13][14]. Family Dynamics - The 60s generation also faced a significant increase in divorce rates, with over 2.77 million divorces recorded in the decade following 1995, marking a shift towards what is termed the "midlife divorce wave" [15][16]. - Economic instability and the inability to maintain traditional family roles led to increased tensions and conflicts within households [17][18]. - The financial strain of debt and unemployment often resulted in family breakdowns, as couples struggled to cope with the pressures of their changing circumstances [19]. Societal Reflection - The article highlights the cultural impact of these economic challenges, with the release of the anime "Crayon Shin-chan: The Legend Called Buri Buri 3 Minutes Charge" reflecting the disillusionment and nostalgia of the 60s generation [20][21]. - By 2022, the average debt for households in this generation remained around 6 million yen, indicating that many have not escaped the financial burdens that began decades earlier [28][29].