And much lower incomes. We can go back and forth like this all day.
The point you seem to be missing is that it has never been the norm in the US for a 25 year old to own their own home. The closest we ever got to that would be the Silent Generation returning home from WWII and the veterans benefits we were handing out.
My parents (Boomers) rented a dumpy townhouse in their 20s and early 30s while raising two kids. They finally bought their first home at ages 33 and 29 with a 19% interest rate. Money was really tight for the next 5 years or so until my dad's career progressed. This was with a college degree and a management position. Life has always been a challenge for the youngest generation just starting out. Today's 25 year olds look at their parents and forget that their parents have had decades of wealth accumulation and career progression. They didn't start out taking trips to Hawaii every year.
but much lower prices.