Back to 1995, I was taking my M.Phil course, my research subject was how to use Virtual Reality on study of Architecture. At that time, we were using a Silicon Graphics Mini Computer (talking about mini computer, it was still bigger than most of the refrigerators you can buy now) and you need 2 sets of sensors to detect the position and direction of your head as well as a controller in your hand for navigation in the virtual world.
VR is not a new technology but it only starts to take off after more than 20 years. Partly because of computation power needed behind, partly also due to the acceptance ability of human body (this is what I believe, based on the no. Of people we came across with the system we had before).
I do believe VR will have a much wider applications in every aspect of our live, but will it become a "daily reality"? I will not bet on this.