I don't see how that maps into the argument. First of all, you need to look into youth home ownership, not total home ownership, second of all you need to look into the rate of change and not the overall amount.
Beyond that, it's not arguable that you need to be into a so called 'elite' job to be able to afford homeownership in most of the country.
I think it maps onto the argument as an explanation for both 1) why youth feel entitled to homes and 2) why they are experiencing such disappointment.
Growing up through a bubble explains 1) and the rapid decline from the bubble popping explains the intensity of 2)*.
I agree that the youth ownership numbers are dismal and indicate housing is harder to get into for that age group[1]. On the other hand, ownership is going up for the elderly as fewer old folks fall into poverty and lose their homes, leading to a bit of a wash for the overall population.
It is hard to call home ownership an 'elite' while the majority of Americans are homeowners.
*There are a ton of other factors that play into the affordability crisis
-Increasing migration to more expensive urban areas.
-Housing stock not keeping up (NIMBY, regulation)
-Loss of blue collar jobs, and immigration depressing wages
Beyond that, it's not arguable that you need to be into a so called 'elite' job to be able to afford homeownership in most of the country.