I'm in Portugal which has a completely different 'personal economic structure' from the US, so this might not apply: Transaction values and the luxury segment

I'm in Portugal which has a completely different 'personal economic structure' from the US, so this might not apply: Transaction values and the luxury segment both keep rising here as well. Loking around me it feels like people disregard savings so much AND are take such large loans to buy homes that spending 50k on a new car feels sensible, possible and not a big deal. This in a country where take-home salaries are routinely under 20k/year (net of taxes and health expenses). Money's been so cheap and credit so easy that we seem desensitized to total amounts. Who cares what anything costs as long as you can pay the balance at the end of the month?