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In other words, there are roughly 11 million millionaires in America. This count is at a record high thanks to a bull market in stocks, bonds, and real estate. Although 11 million sounds like a lot, it still only accounts for roughly 3.5% of the US population.
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Compared to their wealth and capital gains, their spending is almost too small to be noticed. For most Americans, savings are closer to 0-2% of their income while for the richest the saving rate is as high as 60%.
Real estate company Redfin projects that home prices — which shot up in 2015 — will grow half as fast in 2016, and homes will stay on the market longer, reports mortgage. median income is only.
Growth was 2.5 per cent; it’s now 2 per cent.’ Yes, it is just 2 per cent but this is due to the end of an unprecedented investment boom, and the Treasurer could argue government spending and polices.