Big houses cost more to build and maintain and wealthy people are often drawn to that which costs more (regardless of what it is). Plus owning more space is generally seen as desirable so if they can afford it, they'll go for it.
Why is there a link between one's wealth and how big his/her house is?
Because a person who can afford the big house can afford better health care, and better food.
Usually, the bigger the purse, the bigger the ego and the wealthy sure like to flaunt it.
To a point .. Yes there is some correlation for some .. But, for others .. It's not so cut and dried. There are many 'wealthy' people that live in very modest/nice but not extravagant accomodations. . You'd actually be surprised as to how many choose to give the illusion that they are just 'normal everyday people' yet have a lot of wealth.
Then there are those who live in very large extravagant homes and struggle to make the payments because they choose to give the illusion that they are 'somebody' because they associate monetary 'things' with personal importance. They are totally phoney.
I remember that some music group once purchased a multi-million dollar home, but took out a loan for $30.000 so that they when people asked about their mortgage payments they could blow people's minds.
Cute idea.
Beyond that, financing a house requires bank approval generally speaking, and if you don't have enough income (or have enough cash on hand); they have guidelines that determine how much they will loan to you.
"Trying to be happy by accumulating possessions
is like trying to satisfy hunger by taping sandwiches all over
Your body."
Another costly toy
