Is that true? I know on a forum like this the custom is generally to assert something that would be helpful to your argument if it were true, and assume that it must actually be, without ever checking. But aren't you at least a little curious if it's actually true? Let's check:
In 1982, the median family earned $23,433. Today it's $84,008:
https://fred.stlouisfed.org/series/MEFAINUSA646N
In 1982, median home price was $62,113. Today it's $366,555:
https://dqydj.com/historical-home-prices/
In 1982, a 30-year fixed mortgage rate would cost you 16.67%. Today it's 5.25%:
https://fred.stlouisfed.org/series/MORTGAGE30US
So, in 1982, the annual cost of a median mortgage was $10,428. Now it's $24,288.
https://www.mortgagecalculator.org/
So, in 1982, after paying a typical mortgage, a median family would have $13,005 left over for everything else, or $38,962 in today's money.
https://www.usinflationcalculator.com/
Today, a median family would have $59,720 left over after that annual cost of a typical mortgage.
That's all the more interesting considering that in 1982 the average house was 629 sq. ft. per person, whereas now it's 1,058:
https://247wallst.com/special-report/2019/04/05/the-size-of-a-home-the-year-you-were-born-5/
https://www.aei.org/carpe-diem/new-...verage new house,using the average size house
So,
people are buying homes that are 68% larger in relative terms, yet they have a lot more money left over to spend.
40 years ago the CPI for food was 97.2, versus 298.379 now. So, food costs 3.07 times as much today:
https://fred.stlouisfed.org/series/CPIUFDSL
But, again, median household income is 3.59 times as high as it was in 1982. So, again, food is LESS expensive today than it was 40 years ago, relative to median incomes.
Unfortunately, that's how debates tend to go on political sites. One side deploys verifiable facts and figures, the other side says "shove your statistics" and insists that their own gut-level personal impressions are all that matters. That is a particularly common approach among the elderly, who have often lost the ability to reason, much less to research, and so they want to treat their own vague impressions from their personal memories as stand-ins for nation-wide experience... never even considering whether their own lives might have been atypical or misremembered.
If you define "upward mobility" as earning more than your parents in real terms, it's true that upward mobility took a big dip starting with Reagan. However, it's worth noting that this is not a nation-wide thing. Upward mobility is horrible in conservative areas: worst in LA, OK, SC, AL, FL, KY, MS, NC, and TX. But it's still good in many liberal areas: best in MD, NJ, NY, CT, MA, PA, MI, and UT (the one conservative state that often finds itself among liberal states in rankings like that).
https://www.pewtrusts.org/en/resear...ts/0001/01/01/economic-mobility-of-the-states
Liberal policies tend to help with upward mobility, which is why it remains better in liberal states (and countries), and why in the nation as a whole it took a dip with Reagan and his aristocracy-favoring policies.