A Nobel Prize-winning economist and Yale professor explains why buying a big house is a waste of money

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A Nobel Prize-winning economist and Yale professor explains why buying a big house is a waste of money
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Regardless of income, living on less than you can afford is one of the best ways to increase your chances of building long-term wealth

Big houses are a big waste of money, the Nobel Prize-winning economist and Yale University professor Robert Shiller told The Wall Street Journal. The ubiquity of technology has replaced our need for big, sprawling houses, Shiller said. Plus, buying a home in general isn't a great investment. Despite this, many people view a large home as a sign of success. . Visit Business Insider's homepage for more stories.

Big houses are a big waste of money, the Nobel Prize-winning economist and Yale University professor Robert Shiller told The Wall Street Journal. The ubiquity of technology has replaced our need for big, sprawling houses, Shiller said. Plus, buying a home in general isn't a great investment. Despite this, many people view a large home as a sign of success. . Visit Business Insider's homepage for more stories.

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