OK, Why Do Some Rich People Buy Such Gigantic Houses?

My mother explained to me once that it's all about appearances. If you don't appear to be successful, people who are important will think you're on the way down, your popularity isn't what it should be and they'll either give their business to someone else or get another actor or whatever. It makes no sense to me.

i agree, basically they just want to flaunt their wealth and they have nothing to do with their money. actually buying those big houses is a great investment as long as you could fully pay for it and its tax otherwise it'll just be foreclosed by the bank/gov't and you'll end up losing the house and your money. it is a great investment because land appreciates in value, that's why if ever they buy big houses it will surely be worth a fortune in the future, way more than their purchase price. it is a good way to earn money, passive income - you are not doing any work and yet the value of your money (property)is increasing.

It doesn't make any sense to me. I've recently heard of 2 famous people getting a foreclosure.

They need it so they can throw a big party at home. They also want to show on how success they are. They also need those houses for their celebrity status. After they got the house and discover that they can't afford it, it will end up in foreclosure. I think it is not the celebrity fault all the time, their manager and financial adviser should tell them what is the right one.

Rich & famous, or at least rich... I agree with most of the people who responded here... Some may be compensating for something, others, just cause they can... Personally speaking, I only need 4 essintial rooms, bathroom, kitchen, livngroom, bedroom... And that's pretty much all I have... I live in a ranch style house... 2 bedroom, decent size living room, kitchen & 1 bathroom... Good enough for me, my daughter & my girl-friend... By the way, did you notice some of those rich people who are living in those HUGH houses are single? One person living in a mension, could never understand that...

Well yours is a very good observation,I am sure many of us have wondered at this.In my country too there are many of these Rich Businessmen.Many of them are like that - they like to flaunt their wealth,like to attend parties and throw parties too,like to be in the covers of Magazines and get covered in the Newspapers frequently.Recently there was news of this businessman who is building a 27 storeyed House for himself.The first six floors in this building is for Car Parking alone!Talk of extravagance!!!I think this is just utter wasteful expenditure.Perhaps these people are floating in so much money that they are looking at ways in which they can spend it.Nevertheless it is unwanted display of wealth.

I did not get it either. I think they just showing off their wealth that they can buy it for fame. Well money cannot buy happiness but I can see these famous celebrities have actually failed. Take for example MJ with his Neverland house, it ends up for sale because he has failed. Although I like his songs but what he has done were not right. If I were a famous celebrity I would not buy gigantic houses, maybe I just buy a nice normal sized house and another smaller house for holiday. I would then donate 50% of my earnings to charities for the third world countries. They are the ones who needed the help but not fame. I always look down but not look up thinking there are lots of much unfortunate people that I feel I want to help. Even right now I stay in a small 3 bedrooms townhouse I am more than happy. More importantly I don't need fame and I just want to live normally.

"Because they can". I knew a pastor who was so obsessed with money and wealth, he would tell us how the rich people lived and that one day, he was going to be like that...enjoy life. To me, having diamonds on the hubcap of your car was a wee bit excessive. But, you're talking about houses. Now, if you're Angelina and Brad, you're gonna need all the rooms you can get *lol*. But, for couples like Tom and Kate , I don't see them having anymore children than what they've got. But then, they aren't the one's cleaning it so it shouldn't be that burdensome for them.

Well for one thing, a house is an excellent investment if you know what you are doing. But I believe a lot of them get caught up in their fame and go overboard on the house thing. Or maybe it is to compensate for lack of something else. I think that each person has their own individual reason. But one reason they probably all have in common, "If I can afford it now, why not." They pay no mind to later on and it sneaks up on them while they are yet partying the money away. Just my guess.

they're most likely just flaunting their new wealth. the "hey,look how important i am" factor. jeez..if i won the lottery or something,yes i'd build a new house,but a modest one.i'd be thinking man,i don't want to clean all of this LOL you have to wonder what on earth they could reasonably do with these huge houses.you'd need a golf cart to go from one end to the other

For the same reason that people buy big gas-guzzling cars, or pay $1400 for a dress that looks like it was ripped out of a bed sheet and stapled together. They have some absurd need to be noticed.

I think that they are doing oneupsmanship on their wealthy neighbors shouting look at my house,its bigger thanyours. seems to be to be absolutely unpractical to buy huge when they do not need all that extra room. they should keep some of their money in savings for heavens sakes. what if their popularity wanes or their health fails what good'will that huge house do them then?

```It is a common phenomena.I am not a rich people so I don't know exactly the feeling of being rich.I guess if I had so much money and fame I would do the same thing.I just think that what you do depends on who you are.Maybe they don't want to buy so big a house,but they don't want to be different from other celebrities,either.

Rich people are rich people. They have money, dont know in what to spend it, so they buy a big house to have fun and showoff.

Vanity is the most expensive thing I know of.

Personally, I think it's an insecurity thing. Maybe these people can only be confident and have high self esteem if they feel they are impressing the world. Secure, confident people don't care what others think. You can only sleep in one bed and eat at one table ...

er...I believe that they just want to tell us "oh,look,i'm rich".Where I live ,so many pepole like doing something we cant understand that we think their life must be crezy.