<p>This theoretical and review-based article examines the Latin American phenomenon–the region’s unexpectedly high levels of subjective well-being despite low income and persistent structural deficits. We focus on Colombia, a country often perceived as unlivable yet consistently reporting relatively high levels of subjective well-being, and contrast it with the United States, a nation widely regarded as highly livable but with comparatively lower happiness indicators. We argue that genuine happiness is possible even in contexts of limited material comfort, as conventional measures of livability often overemphasize material conditions that may not be essential for well-being once basic needs are met. Conversely, the excessive pursuit of material comfort–as exemplified in the US–may diminish happiness by fostering overwork, alienation, and depersonalized environments. While we cannot rule out the possibility that Colombia’s reported happiness reflects adaptive responses to adversity, we critically assess alternative explanations and propose directions for future research.</p>