The other factor is that the newer generation is less likely to drive a old junker and buy a old fixer upper in the burbs like I did . .
Answer for that is simple. The 1990s are over.
The days of fixing your own vehicles is all but over for the average Joe.
I'm useless at fixing vehicles, but back in the day..... even I could get my 90s Ford Ranger up and running when it broke down on a FSR. Those days of buying a cheap used vehicle and doing the maintenance and repairs yourself are over. Every vehicle newer than approx the year 2000 requires proprietary tools....some require multiple proprietary tools. When these newer vehicles break down....you're looking to start at 1000$ just to have the mechanic open the hood. The average Joe CANNOT fix most things on these newer vehicles....
So yeah....it's easier to just buy something new or with low mileage and have peace of mind. Why buy a 2005 beater when you are still going to pay through the nose to keep it running?