Yes, but in the period you state, when the average wage has risen by 50%, the average house price has risen by over 200%, and RPI has risen by 117%. It's true

Yes, but in the period you state, when the average wage has risen by 50%, the average house price has risen by over 200%, and RPI has risen by 117%. It's true that back then, the average monthly mortgage payment might have been similar, if not slightly more (adjusted for inflation). However, a lifetime fixed rate is unusual and they would have moved to lower rates when they came available. Also back then, more people had a 'job for life', defined benefit pensions, and inflation-matching or beating pay rises without the risk of moving to a new company. One could be reasonably confident that if a mortgage was affordable now, it would continue to be so in the future. Nowadays, with stagnant wages, interest rates that can only go up, and the need to invest more into personal pension funds in order to mitigate the risk of retiring at a market low point.