Earlier quoted context omitted.
One important data point is that houses have become much more expensive compared to income in the last decades. When I lived in CA, my plumber neighbor told me he bought his house in the 70s for 80000 on a salary of 40000. Today he would probably pay 800000 for the same house but make maybe 100000 or a little more. It's definitely harder to buy a house these days.
Houses today are vastly larger. Cost/sq ft in all but the few most expensive places has been nearly constant under inflation adjusted price for an incredibly long time. A huge majority of the population lives in such places. Here's a size list that is commonly shared https://www.newser.com/story/225645/average-size-of-us-homes... When you figure in # of people in such houses, the avg person has vastly more space http…
I bought my house in 2018. It was built in 1997
It is not vastly larger than it was in 1997, but I still paid 2018 prices for it
Most people aren't buying new builds