Yes, the article may be alarmist and from a suspect source, but wage stagnation is real and has been a serious issue for about 4 decades now. Which means we are into the second generation that doesn’t have much hope, on average, of being as prosperous as their parents, much less exceeding them.
You’re assuming a static situation. We have a much more UNemployable job force than we did decades ago: stupider, on drugs, and with illigitimate children and entitlement attitudes which don’t come with a work ethic.
Our salvation has been Moore’s law, in one form or another, applying to so many of the things we consume. When you consider that my grand parents paid $850 for a color TV back in the early 60’s, and I sold 50” sets in the early 80’s for $4k-5k.
It’s housing that is killing people.