I will say that I think there's been a shift in the last 10 years or so.
Growing up, nobody went on fancy vacations. Very few people had sports/luxury cars. Houses were pretty modest (granted, this was in the east bay of SF and not Utah. Utah homes are on another level. A modest Utah home would be a mansion in my hometown).
But it does seem that conspicuous consumption has become more of the norm recently. Could be due to social media. Could be due to greater prosperity. So my experience could be outdated.