This misses the primary cause. There's an affordability crisis because most of the capital continues to concentrate in the hands of a small set of people who maximally extract rents. As one small example, private equity buys up businesses of all kinds and extracts a rent; both the consumer and the worker suffer.

If you said during the feudal era "there is an affordability crisis: the peasants don't have money to buy castles," perhaps you were right. But the solution was to revolt against the king.