Here are the numbers:
https://www.longtermtrends.net/home-price-median-annual-income-ratio/
In the 1970s home prices averaged four times median household income.
Today they are seven times median household income.
That is the total price to purchase.
Interest rates were higher in the 1970s so that made mortgage payments somewhat more comparable depending on the size and terms of the mortgage.
And that is only two variables.
One could get a job sans college degree and get merit based promotions.
What’s the cost of university now?
Internet and smartphone is necessary for anyone with a decent career.
What is a decent car now v then?
Have you seen what a truck costs?
It continues on.