Pundits consistently underestimate how much income Americans make and how high living standards are compared to the rest of the world. Americans earn a lot of money, hence can afford bigger things in general, likes big homes or cars.
Americans constantly overestimate the standard of living of the majority of their citizens compared to the rest of the developed world
no-one in Europe, Japan or Australia worries about medical bills of bankruptcy regardless or their income
I might like a slightly larger house but I'd rather have a Fiat 500 than a giant US "sofa on wheels" fake SUV with the turning circle of 100ft
The median income is just 20-30% higher compared to Europe.