So, is the comparison point Roman London? During the Blitz? When Pea Soup was a common pollution issue (https://en.wikipedia.org/wiki/Pea_soup_fog)? Or is it a period post war until about 1980 when assets hadn't caught up to a booming economy?
Some parts of life are more expensive in a few world cities that are more than their local population, places like London, SF, NYC, Paris. In such places, housing is likely prohibitively expensive for almost everyone, as the market size (aka demand) is every person in the world worth north of $USD 10 million in the entire world. That market is a LOT larger than even ten years ago, and has a motivated population (the Chinese) who prefer foreign assets over local ones. On the flipside, supply has not kept up, as most world cities have housing approval procedures that are glacially slow, and held back by NIMBYs.
But even then, the London of 1950 wasn't the place it is now, and lots of things like air quality have improved vastly, as has what is available to do - from eating to drinking and general entertainment.
Ironically, I think what you parents did is the same way everyone today could make great wealth - move to a city in another country with opportunity. My ex moved to Beijing and made 1st world money while spending like a local - so > $100K with expenses under $1K a month.