I was recently out on a tiny little lake near me. The entire lake is only 430 acres, and it's incredibly over-developed. There are a lot of lawyers & doctors who have made the lake a place to show off their wealth. I went there 2 nights ago to get some exercise kayaking. The largest boat on the lake could be heard anywhere on the entire lake because of its stereo blasting while they made their way from one side of the lake to the lakeside bar/grill on the other side. It was like "look at me! look at me! I've got a bigger boat than you! And... my boat has a radio in it!" I ran into one of my friends at the boat launch. He had been leaving the bar as that guy was pulling in; said the guy was a pompous ass.
To an extent, I agree with you, but there's also the conspicuous consumption assholes from the other end of the spectrum. Wild shot in the dark about cars with the vibrating bass: 70% less affluent whose stereos are worth more than the cars, and rent an apartment; 20% more affluent, showing off. 10% just plain ordinary assholes.
edit: that's not to say that the other 90% aren't also assholes who don't respect other people & their community.