Older people have always been better off than younger people. Most people start life with little in assets or income and gradually acquire them as they go.
Yes, we paid less for our houses, but that was mainly because interst rates were high and we were, as a whole not as well off as most young people are now, we also had to pay more for cars, new or second hand, electrical goods, clothes, holdiays and all the rest of the things people spend money on. I can go out today and buy a coat for very little more than I paid in 1964 when I started work.
Housing is the classic supply and demand market, house prices rise or fall to a level where the number of people who can buy a house equals the number of houses for sale.
In the past one third of the population never aspired to own houses, most of these lived in council housing, now everyone, no matter what their income expects to be able to buy property.
I am also amazed how much money people have available to spend on their houses once they have bought them. it doesn't matter how big or small a house it is, each house purchase is followed by an endless train of delivery vans bringing in new appliances, furniture and heaven knows what else followed by huge piles of carboard boxes for the dustnman to remove and then the workmen, kerbs lined with white vans for months.
Whenever we have moved house, we have had barely a penny left and in the first couple of years, all we could rise to was the odd pot of paint and/or roll of wallpaper, we certainly could not afford to gut the kitchen, gut the bathroom, landscape the garden etc etc. which I see happening so much.