The KCM Blog reported that sales of homes in excess of $1M are UP over 6.1% and that this trend for the upper-end market will continue as we move forward. They also quoted an article from The Wall Street Journal indicating that "the number of millionaires is soaring - the number of Americans with investible assets of $1Million or more rose 8% in the 12 months ending in June. There are now 5.55 million U.S. households with investible assets of $1million or more."
Explanations for this resurgence are that the affluent were less impacted by the economy and they understand investment cycles and know how to take advantage of historic low mortgage rates.
Smart money investment encourages confidence. Confidence encourages more investing - less fear.
Eleven pipers pipin.....
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