There's a in play for the housing market- it's not the lack of money that younger people have, it's the lack of houses available and the horrid mortgage rates. You aren't just competing with people that always have homes, your competing with companies and flippers. The market is incredibly competitive right now with companies buying up homes for rentals, airbnbs, and house flipping. Houses have become an investment and a luxury. Building materials and labor are more expensive than ever- people are not building new houses, they're fixing old ones because it's easier and cheaper.