Home prices in the '80s were ~$60,000; equivalent homes now are about 10x that [0]. With inflation bouncing around 2-6% on average [1], and only modest wage increases over decades [2], that makes the median home today way less affordable even with these relatively low interest rates.
All 4 of my children, in various stages of degreedness, have told me they have no hope of ever owning a home of their own like they were able to grow up in.
[0]: https://fred.stlouisfed.org/series/MSPUS
[1]: https://tradingeconomics.com/united-states/inflation-cpi
[2]: https://fred.stlouisfed.org/series/CES0500000003