Absolutely. It is not about one car or two cars,owning a house or renting.
The school I retired from runs a biennial exchange with a school in India. The school in question is actually a very middle class one with the sort of outlook that many of us would find old fashioned, if not downright Fifties, but the staff are lovely people. Our kids, when they go out to India, find the poverty around them an eye opener, yet as I said, by Indian standards, this is a middle class school and its pupils come from aspirational families. When they visit us in the UK, the teachers' eyes are out on stalks at the equipment, IT resources, books, facilities etc of our "bog standard" comprehensive and cannot understand why our kids take it all for granted . And wonder why many of our kids do not appear to value their opportunities, which in India could mean the road out of poverty.
It is relative isn't it? Once you get away from the notion of absolute poverty, some people will always feel hard-up compared to those who have more, whether it is a little more or much more.
"Keeping up with the Joneses" says much about our human nature.