[extropy-chat] millionaires in America

[BillK]

On 7/28/05, Robert Lindauer wrote:
> 
> It's definitely statistically significant.  I wonder if they've done
> other studies on the children of millionaires to see if they're 10%
> smarter, harder working and more driven than 'other people'.
> 

On the other hand, 1million USD is around 570,000 GB pounds, which
will get you a nice house in the London and South East England
property market, but nothing very extravagant.

Most people over 60 years old have paid off their real estate
mortgage. Remember it was started many years previous when property
values were 10% of current prices. They can now call themselves dollar
millionaires. I would expect the same to apply in USA, for the
majority of older property owners.

I remember people commenting that their house was earning more than
they were, because property prices were rising so fast.

BillK