Nearly $8000 for luxury one bedroom apartment. Money to burn. My house payment is about $1200 per month for 2800 sqft in one of the nations largest cities and t

Nearly $8000 for luxury one bedroom apartment. Money to burn. My house payment is about $1200 per month for 2800 sqft in one of the nations largest cities and that includes property tax. Plus I have equity on the house which has doubled in value over the last 10 years. Financially I really do not understand dumping cash into a lease without equity.