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Reply to "$2M home w/ $160k HHI?"
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[quote=Anonymous][quote=Anonymous]I made $2.2M on the stock market. We have a HHI of $160k. Would it be insane to pay all cash for a $2M home? Yes, I realize there are taxes, insurance, closing costs etc. Can you still own a home with that price tag with a $160k HHI? Would taxes, insurance, etc. be untenable while essentially having no mortgage? I don't really care about wiping out my brokerage account to $100-200k. Plenty saved in IRAs and 401ks. What else should I use the money for at this point? No other debts. Still lots more time to rebuild my brokerage account, and I actually do want to remove a lot my wealth from equities into real estate just to diversify.[/quote] That's not diversifying. Diversifying in real estate = buying into REITs. [/quote]
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