1970
Average yearly wage: $9,870
Average house price: $17,000
House cost about 1.72 times your annual (single income) salary.
2022
Average US yearly wage:
$53,490
Average house price:
$374,900
House cost about 7 times your annual (single income) salary.
Short story,
You need to work for 6.5 years to buy a house for what people could buy them for after one year of work in the 70's.
Rent in 70's average was 108$ a month. That's about 13% of a person's annual salary back then.
Rent now is $1,104. That's about a full 25% of a person's annual income.
Without wage increases this is just objectively unsustainable.