I mean, wages have been increasing at a fairly reasonable rate related to inflation, the cost of most things have gone down relative to incomes with the big exception being housing.

https://cepr.net/publications/in-the-good-old-days-one-fourth-of-income-went-to-food/ https://www.jchs.harvard.edu/blog/home-price-income-ratio-reaches-record-high-0

Based on that, I’d say you’re wrong that it’s wage appreciation that’s the issue, it’s definitely housing costs that are the problem.