> I'm not really sure what your point is about the home value in this situation.
Everything started with another account saying "In my country our threshold [for inheritance tax] is significantly lower by the way - it's around a million, so bog standard houses get hit by it."
So my point is that 1mil house is not a "bog standard house", whether we look globally or in the USA-only.
Sure, there are some spots in the world in which the average price of the house is going to be higher. But that's irrelevant. It only means that the location is what making that house exceptional.
I understand your practical considerations/explanations about living in an extremely costly place where everything (housing, food, etc) is expensive. But the decision to stay there is on you. "if I sell here and move to North Dakota I'll be a wealthy individual there, but I am not going to be doing that" - is the crux of the issue.
Everything started with another account saying "In my country our threshold [for inheritance tax] is significantly lower by the way - it's around a million, so bog standard houses get hit by it."
So my point is that 1mil house is not a "bog standard house", whether we look globally or in the USA-only.
Sure, there are some spots in the world in which the average price of the house is going to be higher. But that's irrelevant. It only means that the location is what making that house exceptional.
I understand your practical considerations/explanations about living in an extremely costly place where everything (housing, food, etc) is expensive. But the decision to stay there is on you. "if I sell here and move to North Dakota I'll be a wealthy individual there, but I am not going to be doing that" - is the crux of the issue.