Unfortunately, it's already working very much against you. You're in the prime earning years of your life, but high housing costs are gobbling up your fortune, making it more difficult for you to amass savings on which to retire.
If you _do_ happen to own any property by the time the housing bubble bursts, suddenly your net worth is going to drop precipitously, and you may even have trouble servicing the now-underwater loans that allowed you to acquire that property.
Your odds of any inheritance being worth much are dropping, as most households have a significant amount of their total assets rolled up in their housing.
Even if you did manage to save money, and now houses are cheap, they're cheap because they're in empty neighbourhoods, where all the boomers died and left empty houses, owned by the banks. Those are not pleasant neighbourhoods in which to live. You'll get fewer municipal services due to the smaller tax base to fund them. Blocks of empty houses are also frequent targets for thieves and illegal salvagers.
The future does not look rosy at all. Maybe we'll get lucky and enough coastal housing will be wiped out by rising sea levels that we won't face quite so devastating a bubble.