NYC more millionaires than LA, Chi, DC combined

Millionaires by liquid, illiquid or combination of assets?

$1 million or more in investible assets in 2009.

Because it's bigger than LA, Chicago, and DC combined.

The Bronx is one of the poorest counties in the country.

The fact that it is 18.7% higher in 2009 than 2008 is more important than it being bigger than those combined. Not sure it is really an important stat.

Not quite, Steve, but on the right track: 19M in NY vs. 28M in LA+CHI+DC:

http://en.m.wikipedia.org/wiki/Table_of_United_States_Metropolitan_Statistical_Areas

Now, before all the NYers get too rah-rah: NYC has 667K millionaires out of 19M population, or 3.5%. DC has 152K out of 5.5M, or 2.8%. Just 25% more than DC...

Is it metro area or city only?

In steve's bizarro world, 19 million is more than 28 million . . .

I assume you mean metro.

I am not sure what this means for real estate for the 99% of us on SE who are not liquid money millionaires.

and inonada, 25% more sounds like a whole lot more.

being a millionaire ain't what it used to be

a retiree with one million in investments who is taking out 5% yearly to live in is pretty squarely in the middle class

Yep, MSAs jason. In one sense, sure 25% is a lot more. In another sense, I think it's less than what is perceived by most people.

"I am not sure what this means for real estate for the 99% of us on SE who are not liquid money millionaires."

Given that of that SE's forums are so Manhattan-dominated, and that 3.5% of the NYC metro are liquid millionaires, and that the number is probably much higher in Manhattan (say 10%?), you only think the number is only 1% on SE?

http://flicksided.com/wp-content/uploads/2010/06/quotes-milliondollars.jpg

"The fact that it is 18.7% higher in 2009 than 2008 is more important than it being bigger than those combined. Not sure it is really an important stat."

Given that RE tanked in that period shows its not in this sense.

The source of data was mentioned in a post weeks ago. Its actually not real data, it was based on assumptions by a consulting firm.

its likely just wrong.