Specifically, why do people think it sucks?
Lots of discussion about this. Is it BAD MEDIA COVERAGE (always)? Is it INFLATION and the big jump in prices of basic stuff (sure)? Is it that everything sucks and people have finally realized it (probably a bit)?
Anyway, as is usually the case with such things, I don't think there's one true cause. But I suspect lack of cheap/easy credit, and the many consequences of that (including high mortgage rates locking people into whatever their current housing situation is), plays a big role.
Not much Biden can do about that, however.