Indeed. One car is now two at least, kids used to sleep at least two to a bedroom. One TV, one phone, no VCR/DVD or computer, no cable.
Food was bought as ingredients and assembled at home. Few kids were involved in after school activities that required a cash outlay and nobody belonged to a gym. Clothing was often handed down from one child to another and if your sock had a hole you mended it instead of buying a new one.