What did the average home cost as a multiple of average earnings in the 70s? The 80s? Look at it now. Its at least twice as expensive in real terms.
The rule of thumb was that the house you could afford was double your annual income and the car would be half that.
Anything higher than that in cost was too expensive to finance.
It's not the boomers that caused interest rates and housing shortages. Look at government interference, illegal immigration causing a housing shortage, , Black Rock and it's ilk buying up property and renting it and taking houses off the market.
The democrats have been trying to destroy this country for decades and they've been successful in racial divide and pitting one race against another.
They are also stirring up animosity between generations through jealousy.
Don't buy it. Nobody is owed anything. Work for what you want and quit whining about things beyond your control.
The price to income ratio goes up and down over the years, in the 1980’s it averaged 3-4% all the way until the 2000’s when a big push of illegals coming here under Bush coupled with Carter and Clintons Community Reinvestment Act which forced banks to give loans to those with sketchy credit history, this helped bump it up to 4-5% price to income ratio, as housing was in shorter supply causing home prices to rise then. There was easy money with liar loans and low interest rates.
Buy a 3 bedroom bath Mobile home, that is the equivalent of my first house in 1985. The cost was 70K, interest was over 12pct, and I was making about $18K So my home cost me 4 times my wages. Today, people are making $40K working at Mcdonalds, and you can’t afford a home? When I worked fast food, I made $1.60 an hour.
The problem with housing is, over 50,000,000 non US born people in the country, add their kids and it is getting crowded. Inflation is more money, chasing a limited supply.