That was the problem during Carter’s term in the mid 70s. Inflation was even worse than it is today, & wage stagnation was also present to create stagflation. Also back then, you had to have 20% down to obtain a mortgage loan that carried double-digit interest rates in the mid-teens & rising. It was impossible for most first time home buyers to accumulate the 20% because the price of the homes kept rising. It was the perfect cluster you know what for first time home buyers.
The only thing good back then...if you had a money market account, you made good money on your savings. Like having a part time job. (I was overseas until ‘75.)
My parents bought a home in 1976 for 46K. A split level 3 bedroom two bath. Those were the days. Now it’d be 400K. Crazy!