[bookbinder]

Lots of people think like this. During the housing crash there were lots of news reports about people earning mid six-figures losing their homes because they went out of their way to buy extravagant mansions they could barely afford, rather than a more modest-sized luxury home they could have paid for outright in a year or two.

[bilbo0s]

Even more of those hundred-thousandaires bought condos that they couldn't afford. We ended up with over-built areas like Chicago's Loop and Miami, because so many of them got exposed when it all nearly imploded. (All of it probably would have imploded without the bailouts.)