save money for house? spend now?

I'm 21, in college, live at home but i've been saving up a lot and i don't buy as much clothes/shoes etc anymore but all my other friends seem to buy all these things (tiffany bracelet, LV, dior). It's tempting but should i spend my money on those or is it true that the more i save up now, the faster i can put a downpayment on a house?