You are missing my point! Because of a high COL, $500 here might not be the same as giving $200 elsewhere, because money doesn’t go as far. A $400,000 house is not a big house, the people who own it are most likely not wealthy at all.
Oh, we get the high COL adjustment. What we don't get is the perceived need to reach some kind of nebulous standard of "enough", even with COL taken into account. That's the up-side of giving objects instead of money; COL really doesn't come into it. If I want to give the bride 3 Calphalon pans because it's good to have two saucepans and a 10" skillet, I'm going to pay what that costs me to buy them and send them wherever I happen to live, and it really doesn't matter if her mortgage is higher than mine. If I find a sale, then I get a bit lucky that day, but she still gets the same 20 years of Tuesday suppers and birthday breakfasts and Christmas side-dishes, and to pass the pans to her daughter when she moves to college, because they are good pans and well-loved, if a bit dinged-up by then. If someone else gives them potholders, those will get used, too. (And the odds are good that the potholders will come from someone young, for whom nice potholders are a splurge,)
Wedding gifts here tend to be larger for a combination of reasons, I think the #1 reason is because wedding have always been big deals, formal occasions, and folks give generous gifts. This is not a new trend, folks.
With all due respect, I think they are larger EXACTLY because the tradition is to give cash, and it's much easier to get lured into a whole "how much is enough?" mentality when there is a number staring you in the face out of an envelope.
My family has worked in various capacities of the wedding industry for about a century, in different parts of the world, and I've never seen any region manage to homogenize wedding celebrations the way the Tri-State area of the US has done.
It's a big place with a LOT of people, and I very much get that, but even with a broad range of ethnic and religious traditions, y'all seem to have allowed the wedding industry to dictate to an extreme degree what you should and should not do, even when "a nice wedding" is defined in a way that is completely at odds with the financial resources that the couple actually have. In the rest of the country people throw some huge and very elaborate weddings if they want to, but they don't seem to feel as much that they HAVE to, and so there isn't the ingrained perception of the guest feeling the pain of how much that wedding must cost, and wanting to ease the burden of that expense.