> Cheap rental properties

They buy at most one.

> basic phone plans

They buy at most one.

> Cheap food, ramen noodles.

Humans have fixed calorie needs and even the very obese spend maybe 10x the norm, nothing more.

Compare that to the prospect of someone buying MULTIPLE properties, possibly multiple properties that are 10x more expensive the norm, the price disparity between a regular car and multiple supercars, the price disparity between owning a boat and/or yacht vs...not owning a boat.