May 25, 2005
PARTY LIKE IT'S 1999: Reader Clark Ghitis sends this from the WSJ (subscription only):
The number of millionaires in the U.S. increased to a record last year, boosted by gains in stocks and global financial markets, according to two new studies.
The number of U.S. households with a net worth of $1 million or more rose 21% in 2004, according to a survey released yesterday by Spectrem Group, a wealth-research firm in Chicago. It is the largest increase since 1998, according to the study, which was based on data from more than 450 qualified respondents. There now are 7.5 million millionaire households in the U.S., breaking the record set in 1999 of 7.1 million. The study excluded the value of primary residences, but included second homes and other real estate.
The InstaPundit household isn't among those new millionaires, though.
UPDATE: No, sadly, we're not among those old millionaires, either.