The two primary problems are debt and immigration, as can be seen by this comparison of 1952 and 2020 prices.
A few data points from the table:
Average income in 1952: $6,850
Average house price in 1952: $9,075
Average income today: $33,706
Average house price today: $312,803
The average American could buy a house with 133% of his annual income in 1952. Today, the average guy requires 928% of his annual income to buy a house. In seventy years, an average house has become seven times more expensive!
If one adds the young and foolish students who take on mountains of debt to go through university, then the situation becomes even more dire for them since the increase in tuition is much more worse than the real estate boom.