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Housing costs are up, but we are also consuming more housing (sq foot per capita).

Believe It or Not, Real Estate Affordability Hasn’t Changed Much in 40 Years: https://www.supermoney.com/inflation-adjusted-home-prices/

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Much of the data in the article support that it’s relatively unaffordable, and that it’s gotten worse over time. Anecdotally, not a single one of my friends parents lived with roommates by 30, but every single person I know has roommates.

The factor of square footage can be explained by cheaper materials.

I wonder how much of this is due to shifting housing stock. Were there more 1 bedroom/small 2-bedroom units in the past?

Anecdotally in Boston there has been a longstanding push towards "family housing" this results in a relative oversupply of 5+ bedroom units that are almost exclusively leased to large groups.

Perhaps cost per square foot hasn't changed much. But that's irrelevant if there's no more entry-level inventory left for folks who are just starting out.

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