The younger generation can do the same thing the older generation did and buy a house in a cheaper real estate market. It's funny that people feel entitled to buy a house in the most expensive place on earth. I think a lot of the people who bought houses for 100k in California in the 1970s would not have expected to buy a condo at the same time on 5th Ave in Manhattan (for instance). It's a recent phenomena that young people feel they should own property in world cities.