The core fabric of society - the deal that was offered by society to the people - to work in a job, own a house, raise a family, have a retirement - has decayed away entirely for many people.
This is quite a new deal and not one enjoyed by most people for most of history.
The housing part never 'decayed', it was actively blocked by the people who already had homes. That's why you see things now like California actively overriding local zoning.