I was born in 66 so grew up in the 70s and 80s.
In some ways, it was great.....if you were young, with no responsibilities and you weren't living in a deprived area.
Racism was rife. The NF was quite powerful, and Black footballers got a lot of abuse. Police racism had a part to play in riots in I think 81/82. These happened throughout the country....Brixton, Bristol, Toxteth. Ironically Ghost Town by the Specials was number 1. Two Tone records, of which the Specials were a part, was a good movement though, as most of the bands had both black and white members and it was known for ska music. The Rock Against Racism movement was also popular involving bands like the Clash, Steel Pulse, Aswad. I'm from an Irish background, and there was a lot of racism against Irish people then because of the IRA. A bit like more recent racism against Muslims.
Homophobia was rampant. On the one hand there was bands like Culture Club, Bronski Beat/Communards who were openly gay (or had gay lead singers) but Section 28 happened, which made it illegal to promote homosexuality. So no Pride, no education in schools, no LBTG forums in schools, colleges, workplaces etc. HIV/AIDS just made it worse, with being gay equalling death and disease. Atbth e time, little ws s known of transmission, so people being treated were looked after by people using full PPE, a bit like those used now for covid19. As well, there was no effective treatment so a diagnosis meant death.
Housing was more affordable but interest rates high, so the opposite to today. So it was easier to get a deposit and mortgage, but repayment were high.
Thatcher's government decided the coal min we were no longer financially viable, and they were to be closed down. The resulting strikes were messy, and the areas affected have never really recovered. It was also her government that started the selling off of council properties, and councils were not allowed to pour the money raised into new stock, which meant council housing stock went right down.
Personally I enjoyed it, but I'm a white, straight person living in London, and nowhere near on the property ladder. The music, fashions, films were great. But I'm well aware it wasnt great for all.