Why are people obsessed with buying status symbols A status symbol is usually products or real estate people buy to impress other people or they have reached the level of success they wanted to achieve.When some people become financially successful they will go and buy status symbols such as luxury vehicles and designer clothes that will show everybody that they are successful.The label the media and other people have put on products as being status symbols can cause several people to try to obtain these items when they know they can't afford it.There is so much news in the media about the kind of cars and products celebrities have and it has caused a lot of people to go into to debt just to have the same products as the celebrities.The companies that make these status symbols love it when celebrities are wearing, driving, or endorsing their products because their sales increase. Three examples of celebrities that influence the products people buy are oprah, michelle obama and s ... Read more »