The trend I notice is that the articles preaching the extreme end of this are almost always written by 20-something bloggers who are so much happier now they're couch surfing the world care free rather than 'working 9-5 to pay for that TV'.
Obviously, there is a large truth in there. We all take only a few things on holiday with us and enjoy it. But sleeping on other peoples couches, using their kitchens, bathrooms and towels, and freelancing to get some money to your paypal account now and then isn't a particularly sustainable lifestyle.
I suspect if you came back in 10 years you'll see a different picture. If you want to think about having children or living a generally western lifestyle as opposed to a '3rd world' or really homeless lifestyle then there's a sensible balance point.
I believe rejecting materialism is about giving your energy, focus and love to your passions, your family, and enjoying the experiences life gives you over material things. Not blindly aiming to own 10 or 20 objects while you're basically renting or borrowing everything else to keep living in a western style. All things in moderation :)