Earlier quoted context omitted.
There's also a bit of over romanticism regarding being depressed and everything being shit which I think throws boomers a curve ball. They see the existential dread response to lack of prospects and think people are like this because they don't have avocado toasts, when the only way out is to breadth first search for Google. If you don't want that, I don't know what your prospects are nowadays coming out of universit…
The average house sold in 1946 cost $5.25K. The median salary at the time was $3K. The average house sold today costs $374K. The median salary is $51K. You can argue that those houses that were sold back then were smaller, but they were also made of vastly better materials than modern home construction, and it's not like people even have the opportunity of buying those smaller homes unless they want to live in a slum…
First you're getting a vastly different product today than in 1946. Consumer demands are far higher too.
Also to compare affordability the metric for most people would be the median percentage case of mortgage payments vs the persons take home pay. When measured this way it's been hovering around 30% for the past 40 years in the UK.
https://www.linkedin.com/pulse/why-house-prices-unlikely-cra...