%% Maybe; in Arabia. In the USA, median income = $63-$64,000. In an overtaxed state like NY or CA, it may even feel poor By most of worlds standards, all in USA are rich. But deep in debt may have all kinds of lines nobody wants...............................
The first car I bought was after i got married. I took my wife to see the car. We had to walk. There was a main Dealer lot on route with shiny brand new cars, and we went inside to look at the cars on the lot. But that was NOT the dealer i had in mind. Next door to to main Dealer there was a second hand dealing lot which had used cars that were around 5 years old and older (mostly older). And that is where i actually bought our first car from. Lets just say my wife was not impressed after seeing the new cars on the main dealer lot, that i then took her to this shady second hand car lot instead. We were saving for a house deposit. So I wasn't going to waste money on a expensive car at that point in my life but plenty of people do.
Betcha you got at least few friends, who went all in full force on credits, for bunch of stuff that they didn't needed that much (except a shiny car for the ego), and years later, there's a major difference in the financial status between you and them. At least i am in such stage atm. Everyone around, burdening themself by the loans/credits, babies, families (or not/just an ego games) & then, - one day... The patient ones - gets rewarded.
Correct, mate was also a well paid IT contractor at same time as me but wasnt married so no urge to get on the housing ladder, instead he bought a brand new Lexus, which is now worth $zero, where as my house deposit got massive leveraged returns.