Final answer:
Having a high cost of living does not indicate a high standard of living, as it suggests that individuals might struggle to afford basic necessities despite their income level.
Step-by-step explanation:
The situation that does not indicate a high standard of living is having a high cost of living. A high cost of living could mean that even with a moderate income, individuals might struggle to afford basic necessities and comforts. This contrasts with owning a large house, holding a high-paying job, and buying many expensive goods, all of which are indicators of a high standard of living. The standard of living includes various factors such as income, employment, and housing affordability. It reflects the level of wealth, comfort, material goods, and necessities available to a certain socio-economic class or a particular geographic area.