If you aren’t a millionaire (yet) but you’d like to at least live near some, I’m happy to tell you that there’s a thoroughly useless report that may help you. It’s the “Where do all the millionaires live?” report. So if you want to pick up stake and get close to money, here’s the list for you.
Some of the top ones are Maryland with 7.7% millionaires. I’m assuming that’s from all the politicians and lobbyists. Not that there’s anything wrong with that.
Another top spot is New Hampshire at 6.48% of the general population. With all those sprawling estates in the mountains it might be hard to get anywhere near them.
Moving out West we’ve got California with 6.04%. It’s a large state so I think you’ll find the concentration higher in one really specific spot, if you catch my drift.
Gracing the North you can see 5.74% in Washington and 5.56% in Minnesota. I guess they can afford to stay out of the cold.
Here’s where I think you can learn a good lesson. No one thinks living “close” to a millionaire does any good. Quite the opposite. You need to look for opportunity wherever you can, on fresh ground. Look around you can you’ll see it. Don’t go chasing the people who have money – chase the money!
If you want to know where the money goes in this kind of real estate market, you need to look in two places: the best and the worst. It’s that simple … and that complicated.
Basically, you can find great deals in a sure market. Find the most popular areas and make a sure fire offer. The hottest neighborhoods in terms of popularity were just released so you’ll know where to start looking. Cities like San Francisco, Phoenix, Atlanta, Las Vegas, and Seattle all show signs of being very promising.
Or you can find the cities with the worst luck. You’ll also find deals there too. You might have trouble of a different kind than in the popular places but the payout can be huge.
Really it’s a question of your perspective. Glass half full or glass half empty? Do you see challenges or do you see opportunities? Look around you and try to figure out what it is you see. And how you see it. I never stop looking at what I’m doing. Wherever I am I’m always trying to spot the best deal, find the best future for investors and homeowners, and do my part to pull this economy up.
I trust you can do the same too.
September proved a lot of experts wrong and it looks like the trend shows no signs of slowing down. “Experts” have been predicting for the last few quarters that home prices are going to see their gains slow down and stop altogether before the end of the year. But as we are seeing growth is happening.
September saw a 12% gain in home prices. This is the 19th straight month with improving prices. Nevada, California, and Arizona showed string growth and even down-and-out places like Georgia and Michigan saw decent gains.
It’s important to always keep “expert” advice in perspective. They’re kind of like weathermen – they look at historical models, listen to the news, and try to predict what’s going to happen. Usually they embarrass themselves and give us all a good laugh, but it’s always informative.
Remember, don’t bet the bank, but also don’t be afraid to take chances. If there’s an opportunity in front of you make sure you sink your teeth into it soon. Growth won’t last forever, but you’ve still got plenty of opportunities to leave your mark.