“Upper middle class” has nothing to do with it. In 1950, the median household could buy a house with 2 years of income. That is, 50% of households could do thi

“Upper middle class” has nothing to do with it. In 1950, the median household could buy a house with 2 years of income. That is, 50% of households could do this. Today, the median house costs $400k. Only the top 12-14% of households make 200k per year. So proportionally, the % of households that have the same buying power as a median 1950s household has shrunk roughly 4x.