Actually, if 50 years ago you used to be able to pay for a house in 18 months, today you should be able to pay for a house in ~30 months: https://www.longtermtrends.net/home-price-median-annual-inco.... You're thinking of a time that didn't exist, perhaps outside of when people were granted plots of land and built their own houses on it.
Blame the Fed and idiotic policies at every level for that, anyway; the economics of housing is totally skewed by artificial scarcity on one hand and asset inflation on the other.
I don't disagree that capital has more power now due to the effects of technology, but I also believe that culture has been shaping away from the idea that we are masters of our fate; both due to technology, which becomes increasingly harder for laypeople to understand as it gets more advanced, and regulation forced by that technological advance, where the universe of economic activity one can engage in without needing the state's permission is getting smaller and smaller. Not to mention all the effects that social media has on envy.
Perhaps I sound like I'm repeating the age-old mantra of the old complaining that the young are ruining the country ;-) you decide.