I have a former co-worker I'm connected with on Facebook. This guy works in finance and is married to a doctor, so they do well on the income front. Here's a few of his ongoing Facebook sagas:
1. He decides to invest in three investment properties within 6 months in Reno. His thesis is that the new Tesla factory will cause prices to skyrocket there. He immediately takes out mortgages that cost as much as he will earn in rent. (I don't know the exact financial details, I actually assume he'll do okay here but he's taking on a lot of risk).
2. While in the middle of this process, he up and decides to sell his house and move to a more expensive city. Old house is sized fine for his family, but is in a hilly area, and under the SFO flightline. He's been in the house a while, so given the SF housing market, he's surely done well. However, the new house is at least 20-30% more expensive, and is in a city built on a landfill that is slowly sinking into the SF bay. I read the disclosures on new homes being built there a few years back, and they warn that these home might sink as much as 4ft over the next 50 years.
3. Guy has no liquidity to his name during this process. He literally posted a screenshot of his bank accounts showing less than $1 in combined liquidity for his family. This was ~1 week ago.
4. Just today he posts that his Volvo XC60 is getting too small for his family (wife and one kid), and is looking for recommendations between SUV's like the Honda Pilot, Escalade or Audi Q7.