You hit the issue spot on.

Millenial bashing has been popular in the news for years, but even though people know that wages have been more or less flat for years and housing prices are astronomical few people bring it up.

As you written, this problem seems to only be worsening.

I lived in California for a few years and witnessed the after effects of NIMBYism in San Francisco. Homeless people have no place to turn and can only dream of renting let alone buying a property.

So unlike most of our parents, the key to wealth is not homeownership, but being heavily diversified in revenue streams and non-real estate assets.