Number of Millionaires Growing – but slower

March 14th, 2008 ssimms Posted in Millionaires Comments Off

The last few years have seen increasing numbers of millionaires, and 2007 was no exception. The number of millionaires (assets of 1 Million excluding their primary residence) grew by 2%, which was a slower rate than 2006 which had an 8% growth rate. The slower rate increase was even more evident in multi-millionaires. The number of individuals worth $5 Million or more also had a 2% increase in numbers but that was down from a 23% increase in 2006. Entry level homes slowed a year ago in many parts of the country, and now we’re hearing of a slowing in the mid-luxury range as well.

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