[quote=AN] . . . You never going to find anyone that would say, although I can afford a 5/5 apartment in NYC, my living standard would be better in a 3/1 in NYC.[/quote]

Actually, you will. No matter how much money a person has, often a 3/1 (or 3/2 or 2/2) is all they need. A one or two-person household often doesn’t need a lot of space and likely won’t use it. ESPECIALLY a retired person/couple. A person who has had four bathrooms, 35′ long LR’s and pools in the past is TIRED of cleaning and landscaping chores.

LOTS of people have been there, done that and wrote the manual. After one has all the space they can possibly use, more space doesn’t equal any more happiness.