Wealthiest
10% of U.S. Households
Plan to Acquire
More Vacation Homes Than Primary Residences in New Survey
Potential
1.1 Million Existing and Newly Built Home Purchases
Could Be 16% of Total Home Sales Over the Next 12 Months
MIAMI,
Florida---May 30, 2007--- The potential acquisition of a total
of 1.1 million homes during the next 12 months by the wealthiest
10% of Americans is revealed in the Affluent Market Tracking
Study #11, the twice-yearly survey conducted by the American
Affluence Research Center.
With
the National Association of Realtors reducing their forecast
of annual home sales to 864,000 newly built homes and 6,129,000
existing homes, the affluent market represented in the survey
by the American Affluence Research Center could account for
49% of newly built home sales, 11% of existing home sales,
and almost 16% of total home sales.
Just
released, the survey by the American Affluence Research Center
shows the affluent remain optimistic about future economic
conditions and especially their personal household earnings.
Plans to acquire a vacation home remain relatively strong
at 5.9% of the respondents, but below the historic peak of
10.5% in the spring 2005 survey. Plans to acquire a primary
residence were reported by 3.9%, the lowest level since the
3.8% reported in the spring 2003 survey.
Potential
sales indicated by the American Affluence Research Center
survey are 212,800 new homes and 224,000 existing homes for
a total of 436,800 primary residences and 212,800 new homes
and 448,000 existing homes for a total of 660,800 vacation
homes. These estimates indicate a total of 425,600 newly built
homes and 672,000 existing homes to be acquired by the 11.2
million households in the wealthiest 10% of U.S. households.
Highlights
of the national survey of 398 men and women in the wealthiest
10% of U.S. households can be found on the American Affluence
Research Center website, www.affluenceresearch.org. The survey
participants have an average income of $324,000 and an average
net worth of $3.3 million.
The
complete 27-page report containing 24 tables may be ordered
by calling Ron Kurtz at 305-933-4887 or at info@affluenceresearch.org.
The
American Affluence Research Center surveys focus on the wealthiest
10% of all U.S. households. These 11.2 million households
average $256,000 in annual income and $3.1 million in net
worth according to the latest Federal Reserve Board study.
They account for 36% of total personal income and two-thirds
of the personal wealth of all Americans.
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The
American Affluence Research Center provides marketing research,
mailing lists, and consulting services that focus on the lifestyles,
attitudes, and purchasing behavior of the most affluent segments
of the population.
Disney
Vacation Rental
