Remember the Boomers (not all but most) that could sustain a family of 3-5 and buy a house and two cars with just one income? Well there is another aspect where they had it much better: The workload at their job.
The work load in the 60s or 70s or any time before the PC era was a fraction of what it is now. Nowadays you get a call or email or message and are expected to compile a liste within minutes. Back then this took time and effort. In the office people nowadays probably do 10x the work people did 40 years ago.
Same goes for most other professions. Machines have made everything faster – so much more is expected today than 40 years ago. Jobs were slow. Now they are fast. Thats why everyone is so stressed. Because we work to exhaustion at our jobs – 5 to 10x than Boomers did and then we earn a fraction of theri income.