Consumer Value Tied to Societal Value?

Description
These are photos of one of the newer housing developments in Regina and one of Regina’s vehicle sales lots.

Sociological Interpretation

In today’s society if you were to ask someone what their idea of success is two of the major pieces would be a nice, large home and a nice, new car. What does this say about our consumer driven society? It tells us that we, as a society, see status symbols much differently than some other cultures.

In North America we see a large house and a nice car and we most often assume that the person or people that own them are “wealthy.” We often strive for these things throughout our life. We work hard in hopes of acquiring things like this. For some people they do not consider what needs to be put into owning these things and acquiring these status symbols. They often come with large monthly payments and years of interest. Many do not consider the utility that comes from these assets either. What does owning a larger house or better car give you over your neighbour? A status symbol yes, but what else? Does a family of four really require a three thousand square foot home with an indoor pool or could they get by with something less extravagant. The purchases of homes and cars seem to be made more with status symbol in mind than sheer need. Keeping up with friends and family or being the best on your block can be driving forces for these purchases.

Even with the changes to borrowing rules it remains fairly easy to obtain financing for vehicles or mortgages for homes. Often all that is required are a few pay stubs and a willingness to pay. In some instances it becomes even easier to obtain mortgages or financing than it is to obtain a small personal or student loan.

Using the Sociological Imagination we can speculate as to why this is. Is it a personal desire for status or has it been spurred by societal values and norms? If the status symbol was removed from large houses and expensive cars would we see the same demand or would these manufactured wants become obsolete? Society has created the image of “wealth” and “power.” It we humans who struggle to attain these statuses. In the same respect we humans create and shape our society. It is we who have created the market for consumer debt and it is we who buy into it. We can blame government or financial institutions but in the end we, ourselves have control over our own spending and limits. When will we as a society realize that it has been a trend of saving that has gotten us as far as we are, in having the luxury to purchase these goods, and it is now turning into a debt run market without the savings?

Other cases throughout the world have illustrated that this appetite for unnecessary consumer goods is often only ceased when the river of credit begins to dry up. That is when spending and debt, have hit an all time high and we simply have no more to spend.

In conclusion we have created the market that we choose to live in and only we can drive it back to where it should rest comfortably. Can we ever become a nation that relies solely on what we need or will we always choose to be a nation that relies on material goods to illustrate status?