In recent decades, and especially since the economic crisis, young people have been finding it more difficult to maintain or exceed the living standards of their parents. As a result, they increasingly expect socioeconomic downward mobility. We study the influence of such a pessimistic view on political attitudes, assuming that it is not so much young adults' current economic status, but rather their anxiety concerning a prospective socioeconomic decline that affects their ideological positions. Drawing on data from a survey among young adults aged 18-35 in eleven European countries, we explore to what extent expected intergenerational downward mobility correlates with right-wing and left-wing self-placement. We find that young adults who expect to do worse than their parents in the future are indeed more likely to locate themselves at the extreme ends of the ideological scale.