WEALTHY SEE
OPPORTUNITY IN SLUGGISH HOUSING MARKET
While many average Americans are wary about the housing market,
some of the country’s wealthiest citizens see the current conditions
as prime for buying, according to the Annual Survey of Affluence
and Wealth in America, released in April by the American Express
Publishing Corp. and Harrison Group, a market research and consulting
firm.
According to a recent article from MarketWatch*:
- 77% of the wealthiest
people surveyed think real estate presents a “real opportunity” right
now. Forty percent of these high-income earners said they are in
the market to acquire real estate this year.
- 31% of those surveyed
in the wealthy category said owning a second home was “almost
a requirement” for people of
their economic means.
- 33% of the wealthiest who said they intended
to buy this year are now in the market for a second home, and 25%
said they are in the market for a finished third home, according
to the survey.
* For survey purposes, “wealth” was defined by a discretionary
household income of $500,000 per year and up. |
