I'm sorry, but you're making a blanket statement that just isn't true. There is no magic way to pay off any and every house in 7 years, just not. A nice home here locally could sell for $250,000, but try and find that same home in San Francisco, or other large cities, and it may be triple that.
I do agree however that there is a TON of needless spending happening everywhere and unfortunately the money train has already started to run out for many folks, but has yet to come for others.