I grew up in a family on the low income end of the middle class in the USA. We counted every dollar and I learned to be frugal at an early age. In university, I went to China for a semester in 1990. I went from being one of the least well-off people in my school to living in a country where, with limited money, I could travel, eat out, and stay in hotels. It was a shock to my system. I felt rich. So, yes, I have been in that position you describe where I thought everything was cheap. It felt liberating for me. It was a relief to be able to afford to live without worry.
I guess the good thing is that I wasn't in China buying up land and houses and driving up the cost of living, but I get your point entirely.
One time I had a Chinese acquaintance visiting me in my room. Out the window, I saw a line of people and I asked what they were doing. My friend said that they were standing in line to take a shower, which they were allowed once per week. I was shocked. My Chinese was not that good, so I said something that translates into "Interesting." My friend said it was not "interesting - it was wrong." I felt ashamed to have access any time to a shower and ashamed at my comment.
In Honduras, where I lived as a Peace Corps Volunteer for three years in the 90s, I have seen the costs for land and housing go up significantly since my time there. People who have family in the USA send money back to Honduras and drive up land prices. There is a heirarchy where many people are working for 5 to 10 dollars a day (which barely pays for food), while others have access to money from the USA or from international trade. It creates a divide between "owners" and regular people that is getting bigger all the time.