Indeed becoming a property owner became much complicated today than 30-50 years ago. However, youth generation also became different and I dont think that many dream of having their own flat or house. It past people were ready to work on same work and live in same town, house or flat forever. Now youth generation prefer traveling, changing jobs frequently, be free and independent. Now they have to many option to change, to many things to try or to have, and having a real estate will bind them to one place.
There is no need to compare with the situation 30-50 years ago, owning real estate today is becoming much more expensive than 5-10 years ago . This shows that the world is changing too quickly.
What you say is not wrong but those young people will also have to grow up, need to get married and have children. They cannot live single all their lives or indulge in those pleasures without thinking about the future. There comes a time when they don't want those things anymore and they want to live a peaceful life . They will continue to change their minds and the dream of owning a house will always be in their minds because it is the best way to settle down with their small family.