re: What motivates people to live above their means?

We live in a entitled society. Young adults want today what took years for their parents to acquire. It's tough to think about buying a 1500 sq ft home, when you grew up in a 3500 sq ft home, even though all you can afford is the small home. It's also about keeping up with the Jones's. Parents buy thier kids smart phones so the other kids will not make fun of them. What is considered "normal" today would have been extravegant 40 years ago.