Apart from housing, things are better.
An overlooked factor is entertainment options. The internet has really opened that up. The ability to, for example, stream any song you want or watch just about any TV show/movie you want for an affordable price is amazing.
Another major downside is not just with housing, but the ability to accumulate wealth. That has substantially decreased, which may mean no retirement ever for some people. This also relates to housing, as a major form of wealth accumulation for previous generations was housing/property. In many markets and for many, even average workers, that option is gone. Instead, ever increasing rents are the only option for many.
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