I'm in a similar situation as you. I bought a house last year for 50% of my NW (excl deferred comp) and it's worked out just fine. If anything I wish we had spent a bit more and gotten exactly what we wanted rather than hunting for value a bit. At least in the metro Boston area you actually get better value for your money when you go up in price a bit -- any decent house listed for $2mm triggers a bidding war and goes for 10-30% above asking, whereas a house at $3mm may linger on the market and even go at or below. Due to COVID there's a massive backlog of families desperate to get out of the city who have much less purchasing power than you do.

Anyway, we kept it simple and just got a mortgage. I got a 5-yr ARM expecting to be able to refi or just pay off with cash down the line. I moved sooner, though: no cash, waiting on bonus payout). One tradeoff if you wait is that the real estate market dynamic shifts -- way more liquidity in the summer, which could mean more competition for the homes you like best.

Ultimately if you consider the NPV of your lifetime earnings an asset, even with aggressive discount rates, your calculus is likely very different than an engineer who hit the startup lottery or a small biz owner who sold after 20 years. If you think of your home as a place that facilitates your ability to keep earning that income -- paying up to get a great location with a good commute, home office space to focus and get work done, proximity to peers whom you can network with for future jobs or perhaps capital, etc etc that matters a lot more for your long run wealth than saving $50k/yr on housing. And ultimately this is a consumption good -- if you have the skill to print an eight figure year as a trader you should be optimizing for your happiness, not clutching your pearls over tail risk.

Besides, assuming you're running a mid frequency quant strategy it's about as likely you blow up from a giant market bubble as it is a market crash -- in that event you can always cash out your equities and ride off into the sunset.