If most homeowners were honest, they'd admit that they couldn't afford their own house under current rates and evaluations.
Instead, they gaslight renters about how they just need to work harder like they did. I also dislike the phrase that it's much 'cheaper' to rent than to buy. It's less expensive, but nothing about it is cheap now. Renting now is double the price of owning pre-pandemic, and slightly less than buying (which is probably 3x what current owners pay).
It's going eroding society but most don't really see it. It likely won't manifest itself until millennials and Z are at retirement age. There will likely be a massive oversupply of housing in 30 yrs of population curves continue like they do.