For what it's worth, I live in SF and know of several communities of people over 30 - people who are well-educated and could definitely afford to live in their own space - who choose to live together in big warehouse conversions. I'm sure there's drama but they consider being around other like-minded people to be worthwhile.

In this case it's just shared vacation land which is even easier, and they'll each get their own plot. My family of 6 lived on a quarter acre in a suburb and that always felt like plenty of space.