Historically, the cost of a house has hovered around 4.5 to 5.5x annual median income. It's currently at the highest level it's ever been, at least according to this graph:
https://www.longtermtrends.net/home-price-median-annual-inco....
For example, when I bought my first home the price was around 4.5x my income. But the interest rate on that first mortgage was 8.25%
In places like the UK we have the same phenomenon but most people are on 2-5 year fixed rates.
The median home price in Canada is $800k and rising, while in the US it is $400k and rising. Housing prices in the US could easily double.
Actually the latest quarter median prices fell in the US, which may continue as interest rates increase.
Broadly speaking though, prices certainly are up over the last couple years.
Even if you ignore first time homeowner benefits and such, the usual thing necessary is not living in the middle of California.
Often if you actually dig into it you find abject refusals to consider locations outside of a particular one, or the famous “spend less on candles. no” type of thing.
Sounds like this was either a long time ago or in city/town where not many people want to live.