In 1977, the median income for a 30-year-old man was about $10,000, or $41,500 adjusted for inflation. Today, the median income for a 30-year-old man is about $35,000
What is the median years of experience for both years? In 1977, a larger percentage of the workforce did not attend college so they would have have had more years to build up experience and pay raises. Going to college will increase your overall lifetime compensation but that is weighted more heavily in the later years, your overall compensation in your 20's will often be lower than someone who went to work directly out of high school. The median age for graduating with a bachelor's degree has also gone up, so that will affect your statistics as well. If someone went to college until they were 26 then it is highly likely that they wouldn't make as much as their peers by age 30, particularly if they studied a major that isn't very marketable. Overall, wages have risen in the last 40 years, although not at the rate of productivity increases.
The median home sale price in 1977 was about $49,000, or $203,000 inflation-adjusted. The median home sale price today is about $325,000
I don't have numbers for 1977, but this article says that the median square footage of homes has gone up over 1000 square feet between 1973 and 2013 and with the lower median household size the living space per person has doubled. The median price per square foot has stayed pretty stable in the last 40 years. If you want the price they were paying in 1977, simply buy the size of house they were buying in 1977.
In 1977, a 4-year college degree at an in-state, public institution cost less than $4,000, or about $16,000 inflation-adjusted for tuition and fees. Today, that's $38,600.
This is the only expense you cited that appears to actually have changed much and it's primarily changed for 3 reasons: easier availability of money (student loans), cutbacks in budgets for state universities and greater demand. I think it's silly for an 18 year old to borrow that kind of money, but it is even more silly to loan that kind of money to 18 year olds. I think the solution to this problem is pretty clear, make student loans dischargable in bankruptcy. This would force lenders to actually evaluate the loan and the likelyhood of repayment instead of just approving anyone who says they need money. The people who are not able to get loans can go to college the old-fashioned way: grants (for the truly needy), scholarships, and work.
Overall, millennials are not as disadvantaged as they think they are. Yes, there are some obstacles to overcome but every generation has had its obstacles.