[quote=spdrun]AN:
Smart people underbuy and live below their means all the time.

Why would you want to burn down all of your equity and put it into a place that’s not producing income?[/quote]
Who said anything about living above their means? You’re saying if you have $100M to spend on a house, you’d still rather have a 3/1 and that 3/1 will give you better standard of living?