What a bunch of elitist crap. I grew up in the 1970s in a fairly comfortable middle class house, and one of the things I recall well about that era is that most households did not have air conditioning. We're not talking comfy California here, we're talking muggy Michigan and Mississippi - and even in the middle class, air conditioning was fairly rare. The schools I attended in the 1960s and 1970s were not air conditioned.
A fairly good middle of the road hifi amp cost more than 200 bucks and this was a time when a luxury car could be had for five grand and a pretty nice home for 20. A color TV set cost easily a month of an auto worker's salary. Air conditioners cost well into the hundreds of dollars at a time when gas cost less than half a buck a gallon.
Now I can buy an air conditioner for less than that hifi amp cost in 1968. I can buy an android pad for less than the hifi amp cost in 1968 and it will replace the tv of 1968 1000 times over. I can buy a freaking 50" HD plasma monitor for less than the first color TV set my parents bought in the late '60s.
Meanwhile, the modern equivalent of that luxury car my dad paid 7 grand for in 1973 (a Buick Electra 4 door) would now cost more than our house was worth at the time - but it also has 3 times the horsepower, double (at least) the mileage and is just getting broken in at a hundred thousand miles where the 70's car was ready for trade in at 60K. The Mustang 5.0 I bought in 1987 went over 300 thousand miles - many of them 1/4 mile at a time - before I retired it, and the drivertrain even then was still in perfect condition. So, although the NEW version of that car would cost over 40K new, I can buy a five year old version of it for a fourth of that and it will still last longer than that NEW car of 1973 - like the 2005 Magnum I bought in 2009 with less than 40,000 miles on the odo for less than $11,000.
Not everything is cheap crap, only the stuff that is going to be replaced anyway. Even a crappy entry level car is still going to run a hundred thousand miles; you can buy a cheap $300 Kenmore stove or you can buy a $3000 Viking. Cellphones and computers are cheap crap because they're going to be obsolete in just a few years no matter what. Overall, I think we enjoy a pretty good standard of living in spite of "real wages" stagnating or falling over the last two decades, and a large part of that is because of so many things being available at lower cost.