I agree that leverage is good because it allows you to do more than you could otherwise.
I just have trouble understanding the reasoning that buying an overpriced house is a good thing because one would otherwise spend the money on frivolous things. If the cost of renting is lower than that of buying, you could rent, and buy frivolous things and still be better off than one who bought at the high prices and doesn’t have the money to spend on pleasure consumption. In the end, you may not have more money, but at least, you’d have more pleasure.
