Profile of the average millionaire

[DemoCoder]

http://www.washingtonpost.com/wp-srv/style/longterm/books/chap1/millionairenextdoor.htm

 

[Willmeister]

Note the date: 1997. Before the tech bubble burst. I wonder how much of these people lost.

Average home $320,000. Jeez, doesn't Warren Buffet live in a $30,000 house in Omaha?

 

[3dcgi]

Jeez, doesn't Warren Buffet live in a $30,000 house in Omaha?

I doubt it. Did you leave off a 0 or two?

 

[fbg1]

Actually, Buffet is known for his relatively modest lifestyle. $30,000 may be an underestimation as I don't know if you can buy house anywhere for that cheap nowdays. He also owns more than one house, according to the bio I read about him recently, but I wouldn't be surprised if he didn't fit the profile of the average millionaire, as measured by possessions.

 

[jvd]

I dunno . My sister is lookng for a hosue and the cheapest is 450thousand over here . Mabye in pen ? houses there are like a 110 grand for a nice house . But no jobs

 

[Paul]

Houses in NJ are a huge god-damn rip off, you pay 300K+ and for the SAME amount you can get a MANSION in florida. I kid you not, go take a look what florida has for 300K.

Not saying that for 300K houses in NJ are not nice(my cousins live in one!) but in comparason to what you can get for the same money in another state, it's one huge rip off.

 

[DemoCoder]

Try $700-800k for a 2000 sqft 4bedroom house with no yard in California Bay Area.

 

[Captain Chickenpants]

You guys have it easy!
Here in the UK property prices are getting simply ridiculous.
You can easily be paying £200k (~$300K) for a 1 bedroom flat!

Apparantly on average people are putting down ~105% of their yearly salary as a deposit!

CC

 

[jandar]

Houses in NJ are a huge god-damn rip off, you pay 300K+ and for the SAME amount you can get a MANSION in florida. I kid you not, go take a look what florida has for 300K.

Not saying that for 300K houses in NJ are not nice(my cousins live in one!) but in comparason to what you can get for the same money in another state, it's one huge rip off.

Not quite a mansion fior 300K, but you can get a 2200-2400 sq ft house one a 1/2 acre lot. approx.....

My 3Br/2Ba with seperate dining room 1500 sq foot was 110K.

Now 1.3Million will get you a nice riverfront home
http://www.buyowner.com/property.asp?code=JAX5167

We have some nice "mansions" in the 1-6 million dollar range depending on what part of town you are talking.

Nothing I know compared to the ridiculous prices in NY.

 

[ricercar]

Jeez, doesn't Warren Buffet live in a $30,000 house in Omaha?

You won't find any $30K homes in Omaha except in North O (the 'wrong' side of town) where I lived a decade ago. Unless things changed since then, Buffet's home was in Wast/Central Omaha where the rich folk live, worth at least seven digits.