@cbae: I don't know anyone that borrows 10x their salary on a home, 4-5x maybe, but 10x? That's rediculous.
My wife and I bought a house 3x our income and that's considered normal , here in Holland.
So that would mean a 30m dollar home and that's not unheard off.
Good luck finding a home for $150K in California. A $30 million home is not unheard of--if you're a billionaire.
Bill Gates bought a $150 million home, and what is his net worth?
Even MC Hammer, one of the most frivolous spenders I can think of, paid somewhere between $12 million and $20 million (nobody knows for sure) for a house in Fremont when he earned $33 million.
IOW, when you're insanely rich, you don't spend even 1X your income, let alone 10x or even 3x. You don't need to, nor do you want to. There's little utility in making your walls out of gold and encrusting them with diamonds just so you can say your home is worth X million dollars.