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Yup, or draw a massive square on the lower floors, build over it and then delete the walls downstairs.
You can't resize objects in the game but if you are happy messing around in 3D modelling programs you could presumably do it easily yourself. I think there are a few items which have already been resized, usually plants, but if you have something in mind, search the object's name. Bear in mind though that anything other than a decorative item will usually have animations which won't look right when the item is resized.
I use the sims as a psychology simulator...