It’s true that, per a recent Pew Charitable Trust report/poll, a huge percentage of Americans–especially in CA–live far beyond their means.
As a native, who is 50+, and started buying real estate in my 20’s, I can tell you that I’ve seen many of the live-beyond-your-means set come and go over the years, because they’ve found, to their complete amazement, that they can’t afford to maintain their lifestyle here later in life.
You don’t want to be one of those people.
You’re young, you’re smart, and you’re on the right track. Don’t let the appearance of wealth among your friends and peers bother you. Make the decision to buy or not to buy based upon criteria that makes sense to you, and, if you do buy, buy in a place you’ll enjoy living.
