ST Alpha - "I don't know that I disagree with the $1 million number." (Reading a Post)

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In response to "On interest up to $1 million of debt, according to wiki. I wonder how many people have more than $1 million of debt on their house -- nm" by Roger More

I don't know that I disagree with the $1 million number.

Posted by ty97 Apr 13 '10, 17:10

Up front, it sounds like a huge mansion, but there are areas of our countries where that's hardly a two bedroom condo.

That's the problem with one arbitrary number like that. We have wildly varying home values from area to area.

It should certainly be limited, but where to put the limit? I'm sure someone living in TX would feel a million was ridiculously high (I certainly would have). Now...it doesn't seem as ridiculous to me (though is probably too high.0

Responses:

Yeah - maybe it could be linked to a % of the average house price in the area or something -- nm - Roger More Apr 13, 17:25
Exactly, When a three bedroom, 2 bath house built in the 50's goes for close to 700k in the bay area (albeit this was 6 years ago) you realize - Stephen Apr 13, 17:23 2
- Ideally, numbers like this and the AMT should be localized. - ty97 Apr 13, 17:25 1
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I don't know that I disagree with the $1 million number.

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