I see this time and time again as I travel around the world to very impoverished countries. Happy and generous people who don't know how poor they are because they've never even traveled outside their community. Try to relate this to your own life. If you weren't trying to keep up with the Joneses, would life really be that bad?
When my dad was growing up in his small town, there was only one doctor. That one doctor lived in a 2/1 home with two sons on the outskirts of town. The house was probably around 1,000 square feet with a fireplace and no air conditioning. My first home, was 60% larger than this with one more bedroom and another bathroom. It was a good "starter home" even though I was the only one living there. The original blueprint of the home was also a 2/1 with only 1,000 square feet. It also had a fire place with central AC.
What's my point? 1 to 2 generations ago this would have seem extremely excessive for one person to live in, but not now. With a larger home, come higher bills and more "stuff" to fill it. You need more furniture, most kitchen utensils, workout equipment, etc., etc.
Get back to basics! What do you really "need"? Not what does society say that you should have.