What Is The Millionaire Index Trying To Tell Us?
For the optimists out there…this graph of the sentiment index of households with more than $1 million in assets looks suspiciously correlated to the psychology of the New York City real estate market. If that’s true, perhaps there’s a case to be made that we’ve already hit the bottom. Discuss. Spectrum Group Millionaire Index [Worth.com]
For the optimists out there…this graph of the sentiment index of households with more than $1 million in assets looks suspiciously correlated to the psychology of the New York City real estate market. If that’s true, perhaps there’s a case to be made that we’ve already hit the bottom. Discuss.
Spectrum Group Millionaire Index [Worth.com]
…. and
NEW YORK, Oct. 18, 2006
By TIM PARADIS AP Business Writer
(AP) The Dow Jones industrial average briefly swept past 12,000 for the first time Wednesday, extending its march into record territory as investors grow increasingly optimistic about corporate earnings and the economy. The blue chip average rose to a new closing high, but fell just short of the 12,000 mark.
It wasn’t meant to be taken too seriously…
Yah. Sorry, Mr. B. You really missed the boat on this one. The fact that people who are millionaires who live in NY feel better about life now than they did a few months ago means just about nothing for real estate prices. Not to mention the obvious causation-correlation problem.
But the colors on the chart are pretty.
My vote: confused!
so rich people are manic-depressives, bi-polar or just confused?
Interest rate hikes have stopped for now, energy prices (and all commodities) have moderated, and historic highs have been hit in the stock market. Housing prices have moderated and are moderating at different rates regionally. I don’t think that this chart in itself tell us much except that perception is that the US economy is not heading for the big recession that was feared. I never believed in this Apocalypse Now hand wringing about housing, particularly NY housing. Now that rich people feel more optimistic, I don’t particularly feel any different.
BAIK!!!!!
I don’t think im smart enough to understand what that graph means.