The Wealth Report – WSJ.com : Florida Beats New York for Millionaires
According to new wealth stats released by the I.R.S. Florida had 199,000 residents with a net worth of $1.5 million or more as of 2004 (their latest period). That topped New York’s count of 168,000, though it still trailed way behind leader California, which boasted 428,000–more than a fifth of the nation’s total.
BOOM! We beat New York. Which in turn beat Florida. BOOM!
House prices out of whack in this state? Are you kidding? With so many millionaires, how can prices not be high? It’s a simple matter of supply and demand. And guess what – all these millionaires want to live in the Real Bay Area. Mountain View, Cupertino, Half of Sunnyvale – millionaire magnets for sure.