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Originally Posted by raymr
What used to be middle class: a cozy 1500 sq. foot house, 1 TV, a fairly new 6-cyl. Chevy with crank-up windows, maybe a window AC unit in the bedroom. Today that seems like near-poverty. The middle class now aspires to champaigne tastes and upper class conveniences. Try even finding a new house with 1500 sq. feet, or just a basic stereo system without 15 different concert hall effects. Everyone is moving or being pushed upscale, and many are being squeezed to the max. financially in the process. Apparently going into debt is preferable to living the old dull middle class lifestyle.
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There's a book called 'The Progress Paradox' that deals with this phenomenon.
The secret to happiness is to make all comparisons of your own lifestyle to a previous generation and not your own.