Yep. My grandma bought her house in ~1962 for $20k working at a factory making $2/hr. Her mortgage was $100/m; about 1 weeks worth of pay. $2/hr then is the equivalent of ~$21/hr today.

If you were to buy that same house today, your mortgage would be about $5100/m-- about 6 weeks of pay.

And the reason is exactly what you're saying: the average US worker doesn't provide as much value anymore. Just as her factory job got optimized/automated, AI is going to do the same for many. Tech workers were expensive for a while and now they're not. The problem is that there seems to be less and less opportunity where one can bring value. The only true winners are the factory owners and AI providers in this scenario. The only chance anybody has right now is to cut the middleman out, start their own business, and pray it takes off.