Adam Smith observed in his epic that when people get more money they generally spend it on more/better housing. Today we have a few more luxury goods, to add to a house, but a house is still something people spend more and more money on when they get it.

I’m not sure that is bad. My dad died at 65 - what was the point of all the retirement savings he had saved up (at least my mom can enjoy it). Even if you live for much longer, most old people I know have failing bodies and so they can’t really enjoy those old years. More and more my advice to people is save for a rainy day and an okay retirement, but don’t save for a rich retirement - instead enjoy that difference now.