I purchased a van that I am going to rebuild into an RV and live in San Fransico at a fraction of what I would throwaway on rent and interest to the bank.
Some googlers got the same idea and slept in the google parking lot!
It does not make sense to purchase expensive properties with the record low interest rates. As soon as they rise again, your property will lose in 10s of thousands of dollars in value and you will be tempted to walk away from it.