tinytawnykitten, I know what you mean.
I go to uni full time, work and own my own business. My partner and I were going to buy a house next year (we're both 19), but instead have chosen to put the money into the business. We've chosen to live spending less so we can have more money later. We will probably rent for the next 5 yrs because it will increase our earning potential.
However, lots of our friends are getting their student loan living costs (that they have to pay back) and using it to buy flashy things. They don't have as much money as we do (because we work 18hr days and save our money), but they're the first to go out there and buy $800 designer sunglasses on credit.
It's easy to be jealous of these people, but you have to remember that they're living in debt, and are living way outside their means. I assume you'd find that's the deal with your friends also - they have big mortgages, huge credit debt, and probably buy things on HP as well. Outwardly, they live a flashy life, but in reality, they probably are in debt for most of the house, the cars and all of their other things too.