$3.7m all cash…

[HomeShopping]

Hmmm … with 10 million in the bank, why not just buy outright and not have a mortgage. I actually don’t think that the mortgage interest deduction is worth it. You’re still paying the bank interest. Seems to me that you only come out ahead if the money you were going to use on the mortgage generates more income than the interest you pay (factoring in the tax break). Looking at the investment options available today, that seems like a dicey proposition. Plus, there is the possibility that the mortgage interest deduction will be eliminated.

Income from $6.3 mil should cover about $200K in expenses per year. So $10 mil should be enough to buy a $3.7 mil house.

For me, if I really liked the house, $5 mil in cash would be enough for me to buy. Income from employment would cover living expenses. There would still be a $1.3 mil cushion. That’s a heck of a lot more than the majority of Americans have as a cushion (even accounting for the increased expenses of maintaining a $3.7 mil house). Anyway, this is all hypothetical for me. Just curious what everyone else thinks.

[disimilar1]

Yes it will do depending on your age. Enjoy. Life is short.

[disimilar1]

Yes it will do depending on your age. Enjoy. Life is short.

[disimilar1]

Yes it will do depending on your age. Enjoy. Life is short.

[disimilar1]

Yes it will do depending on your age. Enjoy. Life is short.

[disimilar1]

Yes it will do depending on your age. Enjoy. Life is short.

[nervous92037]

#1 reason to consider is for family…aging parents, grandparents, kids growing up / schools, etc.

The only financial reason we can even come up with is that we don’t have any real assets and there is some chance (although pretty small) that the world economic system could go haywire with all of this money printing, etc going on.

The #1 reason to not move forward would be the uncertainty in the economic outlook currently–there is some chance (certainly more than the chance of the above…in fact it may be closer to even odds) that we are in a longer term deflationary environment which will erode value in housing over time and given the debt bomb we could see some spasms. Again, per above, Helicopter Ben may just fire up the money printing machine.

[nervous92037]

#1 reason to consider is for family…aging parents, grandparents, kids growing up / schools, etc.

The only financial reason we can even come up with is that we don’t have any real assets and there is some chance (although pretty small) that the world economic system could go haywire with all of this money printing, etc going on.

The #1 reason to not move forward would be the uncertainty in the economic outlook currently–there is some chance (certainly more than the chance of the above…in fact it may be closer to even odds) that we are in a longer term deflationary environment which will erode value in housing over time and given the debt bomb we could see some spasms. Again, per above, Helicopter Ben may just fire up the money printing machine.

[nervous92037]

#1 reason to consider is for family…aging parents, grandparents, kids growing up / schools, etc.

The only financial reason we can even come up with is that we don’t have any real assets and there is some chance (although pretty small) that the world economic system could go haywire with all of this money printing, etc going on.

The #1 reason to not move forward would be the uncertainty in the economic outlook currently–there is some chance (certainly more than the chance of the above…in fact it may be closer to even odds) that we are in a longer term deflationary environment which will erode value in housing over time and given the debt bomb we could see some spasms. Again, per above, Helicopter Ben may just fire up the money printing machine.

[nervous92037]

#1 reason to consider is for family…aging parents, grandparents, kids growing up / schools, etc.

The only financial reason we can even come up with is that we don’t have any real assets and there is some chance (although pretty small) that the world economic system could go haywire with all of this money printing, etc going on.

The #1 reason to not move forward would be the uncertainty in the economic outlook currently–there is some chance (certainly more than the chance of the above…in fact it may be closer to even odds) that we are in a longer term deflationary environment which will erode value in housing over time and given the debt bomb we could see some spasms. Again, per above, Helicopter Ben may just fire up the money printing machine.

[nervous92037]

#1 reason to consider is for family…aging parents, grandparents, kids growing up / schools, etc.

The only financial reason we can even come up with is that we don’t have any real assets and there is some chance (although pretty small) that the world economic system could go haywire with all of this money printing, etc going on.

The #1 reason to not move forward would be the uncertainty in the economic outlook currently–there is some chance (certainly more than the chance of the above…in fact it may be closer to even odds) that we are in a longer term deflationary environment which will erode value in housing over time and given the debt bomb we could see some spasms. Again, per above, Helicopter Ben may just fire up the money printing machine.

[Author]

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