I'm afraid that you may be viewing life through a rather rose tinted lens.
The 1970s, did I hear you say? When lifetime council house tenancy was commonplace (young people could get their own place) and private houses were affordable at an average of £70k in today's money.
Or when we had a national bus service with extensive routes even in rural parts of the country which meant car ownership was not a necessity for every single adult human being living outside London?
Or when final salary pensions were the norm with people retiring in their 50s with a golden handshake and then spending 30 years gardening?
If you have grandchildren, you must be find it quite perplexing why they are apathetic about their futures if you think the fact that people having washing machines and TVs indicates that life is good.
Be clear in your mind: - a young couple buying a 2-bed house in the south east today will pay 300-370k for a 25 year old property that was 69k when new. Salaries have been largely stagnant over that period. So, in 2001, the new owners would have needed a combined family income of £15k to buy that house. Today, they would need to earn 77k. In addition, they will have to have saved a 35k cash deposit whereas that would have been 7k 25 years ago and in fact 100% mortgage deals were commonplace in the early 2000s.
Two average earners can just about buy a 2-bed house in the south-east now whereas it was easy just 25 years ago. And what happens when they want to have a family? They will need a bigger place which they could not afford, and they would not be able to have anything but the shortest of maternity leaves to minimise reduction in earnings.
Even a single, early career, high earning professional (doctor, accountant, business professional) would struggle to buy that 2-bed today.
So, head out of the sand, think of your grandkids. It's not washing machines they covet - they need access to housing and a whole raft of other things that PP have correctly outlined.