In the 1950s, the average household spent ~30% of after-tax income on food. It's down to ~12%.

Housing costs just went up to capture the excess "savings".

https://www.google.com/search?q=percentage+of+gdp+that+goes+...

The vast majority of people would rather eat crap and buy another toaster they don't need and add another bathroom to their house they'll hardly ever use then spend more money on quality food.