The 1970s and 1980s era was a difficult one for the countries on the other side of the Iron Curtain. Most people were not able to get basic necessities, never mind luxury items such as one’s own home or a car. Travel to the western world equally challenging. The few who had a car, probably purchased by winning a lottery which allocated a car for one to buy, were limited to a certain models of rather crappy cars, and the whole family likely pitched in the money. Well connected people were bartering imported goods and those on high ranking state positions were living the life. 
Through all of this many people persevered. They were able to take vacations, engage in hobbies, get a good education, and generally work the system. Many left their home countries in pursuit of better opportunities. Years later, the ones that remained overthrew the communist government and replaced it with democracy. 
Aside from the obvious story of a girl, two guys, and race cars, the above video shows shockingly well how the streets of big cities looked like in those times. The example here is Budapest, capital of Hungary. The Ikarus buses, icons of those times, the occasional black Volga driving by, a Fiat with the equally iconic N126 camper, all of those are amazingly accurate. There is even a construction crew where one guy is working and another guy is watching him work. Stores full of merchandise that no one wanted or could afford. New gray apartment buildings and ornate prewar ones, decades old (at the time) trolleys, all perfectly represented. This could have been a scene from Warsaw, Prague, Moscow, or Belgrade, and it wouldn’t have looked much different. 
Enjoy this great little video and read more about Eastern European cars here.