Most people under 40 can't afford a house in many western countries. Compared to 20 years ago, most people could (at least in the two countries I am familiar with - the UK or Spain).
The more, more, more does seem to wind up with fewer people.
I'm skeptical of the unaffordable housing arguments, though. People only talk about a handful of cities. At least in the US, there's plenty of cheap places to live. They just aren't trendy.
The very rich seem to be doing OK though.