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I guess all that TARP money pumped into the NYC economy during the depression really did wonders since the growth rate has also been high.
1. NYC – 667,200,
2. Los Angeles – 235,800,
3. Chicago – 198,100,
4. Washington, D.C. – 152,400
5. San Francisco – 138,300
6. Philadelphia – 104,100
7. Boston – 102,300
8. Detroit – 89,100,
9. Houston –- 88,200
10. San Jose — 86,500
a million today isnt really alot of money. in fact with no pension just retireing in nyc on it can be really tight. just think the person who retires with a 30-40,000 a year pension to live on is no better or worse off then the guy next door who has to live off the income generated by a million bucks and no pension.
Being a millionaire today isn't that impressive, especially in NYC..If you are in the investment industry and making $200K which isn't that rare, you will be a millionaire in no-time and it doesn't take much talent or skill. Just knowing the right people.
New York City has the largest population among US cities; it's more than twice as large as LA, which is second population wise. So no surprise that New York is top on that list. Millionaires per 100,000 inhabitants is a better way to estimate the wealth of a city.
New York City has the largest population among US cities; it's more than twice as large as LA, which is second population wise. So no surprise that New York is top on that list. Millionaires per 100,000 inhabitants is a better way to estimate the wealth of a city.
No, NYC's metro still has the highest per capita millionaires out of any metro.
NYC metro has 18 million and LA' metro has 15 million people. It shows the adult population tables on the first link.
Los Angeles millioniare count is so low per capita... Lower than Detroit.
Here are the per capita percentages
1. New York City: 4.4%
2. San Francisco + San Jose: 4.3%
3. Washington, DC: 3.5%
4. Boston: 2.7%
5. Chicago: 2.6%
6. Detroit: 2.5%
7. Los Angeles: 2.3%
8. Philadelphia: 2.2%
9. Houston: 1.9%
And it excludes primary residence. It's only $1M in "investable assets"
How do they define millionaire? I know someone claim to be a millionaire because of his inflated home value. But in reality, he is cash strap.
The WSJ article says "investible assets." That would exclude the value of a primary residence.
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