that, i cant particularly argue against, but thats been declining for 50 years now, so unless the decline accelerated, im not sure.
the example that always comes to my head is the price of a new car in 1970 (budget-ey car, volkwagon bug) was 999 bucks. At that time, people (namely, my parents) were making about 8 grand a year. i cant think of any car the average person can buy for 1/8th of your income these days.
And college/uni was even cheaper than that. Even in the early 80's people were able to work minimum wage and pay for school with no bills left after graduation. Our generations have been fucked over hardcore.