If the economy is that strong, why are housing prices outrageously high on either coast, where the jobs are? To paraphrase Jesus, it's not about Man serving the Economy, it's about the Economy serving Man.
Immigration is also a factor. I'm not trying to start an argument about immigration but the de facto open borders policy has brought in millions more people. That must have an effect, particularly at the lower end of the market.
A look at the data will tell you that housing construction does not meet demand since in the mid-1980's (!): https://fred.stlouisfed.org/series/HOUST. It's now obvious to anyone that the policy failure has caught up with the nation.
The problem is seriously compounded by the depopulation of rural areas and the fact that current new construction is not entry-level housing and never will be. You can't subdivide an exurban mansion into four apartments.
The wife is reviewing job applications for a teaching position at her institution. There are people applying who did decent work in the past and are now writing assignments for study.com. That's some serious underemployment visible there.