It was the same calculation then as now.   Everyone told me I was crazy to buy.   The value of a house in gold (or BTC) stays about the same - even since 100 years ago.  

The problem for a young person is that interest on a 30 yr mortgage makes the proposition very expensive.  You need a) a large initial equity to reduce size of mortgage and/or b) a shorter term mortgage (e.g. 15 years - higher payments).

In my case, I lived in the unheated attic of my parents garage.  (They begged me to take a basement room, but I was determined to sleep in my underwear in sub-zero weather like those Australian Aborigines and college students in that study cited in Scientific Americ - it worked!  The key is NO wind chill.)  I paid a very small rent and saved up a 25% down payment.   I considered it essential to provide a home for a marriage.  In addition, I made a strict budget,  and paid it off in 15 years.   (Note, there are additional steps I didn't take, like making payments twice a month to reduce total interest.)