Should we factor in how much better it is to live in the city / Australia now vs. 50 years ago?

The video discusses how the value for money of living in cities and Australia has improved over the last 50 years. The host questions whether the increased cost of houses (potentially 5x more expensive) is justified by the overall enhanced living experience due to gentrification, opportunities, and the country's improvement. Therefore, hosts need to factor in the value for money and demand for an area when determining the rates to charge.