I'm a boomer and I agree with your sentiment. I use around 3 times earnings to around 10 to 12 times from the 70's 'til now.
Back in the "good old days" we had a three bedroom home with a carport and one car, all home maintenance was done by the owner... there's your 3 times earnings! (roughly of course)
Right now we've got 4 bedroom homes, an ensuite, another bathroom, a home theatre, landscaped gardens, a two car garage housing the biggest liabilities you'll ever own, an outdoor entertaining area that gets used half a dozen times per year because we're now time poor with kids, a monster shed down the back that we don't use because we're now time poor with kids, we get Jims Mowing in, carpet cleaning in, tradies to do handyman work...
Thanks to the developers for their glossy brochures selling us a roof over our heads so big and so extravagant that we can't afford to pay other bills. Who's going to build a simple 3 bedroom home with a carport on a new estate? Thanks also to the government for all their schemes keeping this Ponzi alive.
...and we're struggling compared to the Boomers?
All that money going into the building of a family home benefits our economy only once with the sourcing of raw materials and labour compared to spending money on a business that will be ongoing.
