When you look at real wages vs cost of living and the trend line is down and showing no signs of ever going back up, the question will I be able to afford the resources to survive and have a family, will my kids be able to afford a home, that's the growing uncertainty.
What are you looking at? Economic data shows real wages have trended up over the last 40 years, at least in the United States. https://fred.stlouisfed.org/series/LES1252881600Q
This is widely believed, but not true: https://fred.stlouisfed.org/series/MEHOINUSA672N.
There is a real issue that housing is unreasonably expensive in many areas, which we could fix via the innovative strategy of not making it illegal to build housing.