Probably talking about different points on the same curve
It has been shown that when fuel prices rise and/or employment gets tight (recent couple years of depression), people begin to shift disposable income to home entertainment options (video games, dvds, etc) from things like vacations, restaurants, and movie tickets. So I think that will be the first trend, but it will likely be transient because, as you note, eventually they will have to downsize their living space as well and then small goodies will supplant large goodies.
"Whenever you find you are on the side of the majority, it is time to pause and reflect" --Mark Twain
"The significant problems we face cannot be solved at the same level of thinking we were at when we created them." --Albert Einstein
"This is still a dangerous world. It's a world of madmen and uncertainty and potential mental losses." --George W. Bush