Sunday, March 16, 2014
Number Of Millionaire Households In The U.S Hits New High
There has been an increase in the number of millionaire households in the United States. These are people who have a recorded net worth of 1 million dollars or more. According to recent reports for the 2013 year 9.63 million Americans were classified into this bracket. This surpasses the pre-recession high of 9.2 million recorded in 2007. This is also a huge increase from 2008 where numbers fell to around 6.7 million. There is hope that these steady increases are signs of a brighter economic future for the US. There has also been a significant increase in households with net worths of 5+ million and 25+ million. With new levels of wealth being obtained these are signs of households trusting markets and making new investments. This then correlates to a stronger/ healthier economy.
http://money.cnn.com/2014/03/14/news/economy/us-millionaires-households/index.html?iid=SF_E_River
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An increase in millionaire houses correlates with more millionaires, obviously. Millionaires are higher up in companies and are involved in decision-making and hiring processes. With this increase, you can definitely see an increase in jobs for people, simply because more people higher up have more money to hire employees.
ReplyDeleteThis number is also peculiar because it is higher than the pre-recession number. Could the recession actually have helped out a certain group of people?
An increase in millionaires and in million dollar houses is a great boost for our economy. It increases our GDP and will also increase the job market. As we come out of this recession the housing market will continue to grow which will continue to help and stabilize the economy.
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