Flap - I think it's a matter of choices. I know of people who have airplanes sitting because they can't afford to fuel them. They also have new cars in the garage, new ATVs, snowmobiles (snowmachines for my friends in Alaska
), several thousand dollars of RC toys, etc, etc. All bought on credit with seven more years of payments. It's the "I want it all and I want it now mentality".
Flying is an expensive hobby. Period. It demands a ton of financial and time resources from it's participants.
So is ATV-ing or snowmobiling or new car-ing (?) every three years. When people start stacking several of these pastimes together, they are often overwhelmed financially.
I had a conversation with my good friend and neighbor the other day when he was giving me a hard time for owning two
airplanes. he had little to retort when I informed him that my two planes cost me about half what his new diesel truck and bass boat cost him.
It has nothing to do with a yacht club mentality. It's all a matter of choice, IMO.