I have also wondered who buys these $1M+ homes. I have always wondered how people deal with these extraordinary house payments (PITI) for so long as well. Let’s say typically for 30 years. Especially in the job market these days. There is no such thing as a secure job these days. So a household has to drop $4K+/month for a average tract home for 30 years. To me it seems hard to convince myself I can keep up these extraordinary payments for the next 30 years even if today I can. Then I ask myself why I would want to put myself through such anyway. Is that average tract home in CV really worth practically every dime I may make for the next 30 years?
I guess for me it seems to be a quality of life thing. The house owns me; not me owning the house.
