Thread: Go Figure?

I thought the readers of this forum, would appreciate this article, taken from the Texas Realtor, its the State Board of Realtor's Monthly Magazine December 09 Edition.

Go figure

Millionaires live in the most expensive homes, right? You might be surprised. Certainly, many people with large incomes and high levels of accumulated wealth own pricey homes, but large numbers of wealthy individuals live in more modest dwellings. Here are some interesting numbers from Stop Acting Rich … And Start Living Like a Real Millionaire by Thomas J. Stanley, Ph.D.

403,211 - Number of millionaires who live in homes valued at $1 million or more

1,138,070 - Number of millionaires who live in homes valued at $300,000 or less

90% - Percentage of millionaires who live in homes valued at $1 million or less

67,000 - Approximate number of millionaires who live in mobile homes

41% - Percentage of homes valued at $1 million or higher owned by people with $200,000 or higher annual income

Stanley is a Slowlane guru and his data should really read

"403,211 - Number of upper-middle-classers who live in homes valued at $1 million or more

1,138,070 - Number of upper-middle-classers who live in homes valued at $300,000 or less

90% - Percentage of upper-middle-classers who live in homes valued at $1 million or less

67,000 - Approximate number of upper-middle-classers who live in mobile homes

41% - Percentage of homes valued at $1 million or higher owned by people with $200,000 or higher annual income

This distinction is critical because "millionaire" is "upper middle class" so the data, isn't so shocking.

Now if this data represented those with net worth > $10 million, I'd be surprised. The Fastlane is about this level, not about Slowlane millionaires who saved their way to an $853,000 401K and a $250K home on Main Street, 5 years removed from a 65 year old retirement.

This sounds like "The Millionaire Next Door"...which I had my friend set on fire the other day lol (the book, not my friend!)

Upper Middle Class UAWs is what you described...or PAWs....I don't remember, nor care...because fastlane and real wealth all the way baby!!!

Originally Posted by RyanDrake

This sounds like "The Millionaire Next Door"...which I had my friend set on fire the other day lol (the book, not my friend!)

It is the same author.

The term 'Millionaire' means very little anymore. Especially in the big cities.

My parents live in a 4 bedroom terraced house on the outskirts of london. It's a middle class neighbourhood, not "Upper middle class" by any stretch of the imagination. It's worth around £700-800K, which is over $1mil. It's not a big house, or an especially nice house. It's good, not great.

So the ultimate success according to this guy is what? Living an average life?

Then again, maybe this says more about London property prices than this guy. Hmmm.