Well, if you want hopelessness I suggest you live in contemporary capitalist Hungary - in many ways, the country's fate is similar to the one described in the article, it has turned into a Western vassal, where nothing worth having, no company with meaningful profits is actually owned by Hungarians.
The problems about life you've described in your post are still valid today - we the country has become a nearshore colony of western corporation, nothing you do or think up will as an intellectual will actually end up in the ownership of Hungarians. No interesting R&D will ever be conducted here - all the companies that built high-tech things, and all the research institutes collapsed like a house of cards during the 90s, or were bought up and watered down by the West.
The political situation is somewhat similar to the one under Socialism - boy, I do hope you like the the current party, since any meaningful democratic transfer of power seems unlikely in the near future.
The prices and taxes and salaries being what they are, the necessities of a basic, liveable middle-class life - a house, a car, some reserves for financial stability - is a pipe dream for even the educated upper-middle class - barring financial trickery, help from parents or working abroad.
As for the concrete prefabs - while they were not aesthetic I agree - but the urban planning concept that surrounded them meant that they didn't just go up on their own, but they made sure everything - playgrounds, schools, pharmacies, stores was accessible in walking distance. The blocks were also mostly placed far apart enough, that one could get sunlight and breathing space between them.
This is in stark contrast to modern real estate practices, where the goal of the for-profit developer is to buy a plot of land - oftentimes far away from existing city infrastructure, and turn it into as many sellable m^2 as possible, with no regards for liveability or infrastructure load.
But no matter since these hovels are more often than not are sold at prices that eclipse the lifetime earnings of your average Hungarian.
The only meaningful improvement I can think of is the ease with which one can move to the West.
In summary, I hardly think the situation's unchanged - but your chief complaint - `hopelessness` - is just as valid as ever.