Don't Compete With Your Neighbours You see almost all celebrities splurging their money and living beyond their means. They believe in having a dozen of properties to strengthen their portfolio and add to the collection of their assets. You might be shocked on knowing that Nicolas Cage has owned as many as 15 homes at once, along with nine Rolls Royces. But I am sure you would not want to end up like the great American Singer Michael Jackson who died with about $323 million in debt, largely related to his Neverland ranch. Therefore, housing costs should not exceed 25 to 28 percent of your monthly income.