But nowadays? Forget it. For example, your mom's house, let's say it's 1,200 square feet, would cost around $350,000 in most areas, upwards of $500,000 in other high demand areas.
Now add in $40,000 of student debt, a 7% mortgage rate, and a $60K income. It's not happening for Gen Z.
But, that's just it...Mom couldn't afford a house in a high demand area, so we had to compromise, and move to the sticks! Mom was also 30 when she bought that house, and got some help from Grandmom and Granddad. However, I don't know the specifics on that. Mom did have a decent federal government job, but again, I have no idea how much she made back then.
And, it was a struggle back then.
I think one thing though, that might make it harder these days, is I imagine you have a lot more single people trying to buy homes. Divorce was becoming much more common in the 70's, but I suspect my Mom was still a bit of an outlier.
When I bought my first home, a condo, in late 1994, it was $84,000. I was working a full time and part time job, and between the two, made around $27,000 per year. So that's about 3.1x my salary at the time. I only had to put down 5%, so it was definitely easier to get into, as I didn't have to save up nearly as much. But the interest rate was 9.625%. And while property taxes were low, it had a condo fee.
After I bought it, I found it was definitely a strain on me, and in hindsight I sometimes wish I'd stayed at home a year longer.
As for high interest rates and home prices? Well, they hurt anybody who doesn't make a lot of money, and/or have a good down payment, regardless of generation. Heck, at the age of 53, if I had to buy my house today, it would be a struggle.