You constantly stress that your neighbors are going to come down and yell at you because your kid is throwing a tantrum, you have to deal with your idiot neighbors downstairs screaming and yelling at each other till 2 in the morning. If you have a newborn baby you are plauged by the constant fear that your neighbors are going to be too loud and wake the baby up.
So no it isn't just a status or American dream option it's a significant change in quality of life.
It seems like too many of these discussions on HN consider only young single people and they just ignore that many people have families and children they need to keep around all the time.