Coping With Wealth

Who can afford those million dollar homes? June Fletcher at the WSJ says lots of people:

...there are simply more wealthy people around than ever before. According to the latest World Wealth Report, issued by money managers Merrill Lynch and Capgemini Group, 2.67 million Americans -- roughly 1 in 100 -- has a net worth of more than $1 million, excluding their primary residence. That number is up 6.8% from the year before. World-wide, the ranks of the super-rich with assets of $30 million or more grew even faster, up 10.2% to 85,400. Yet not everyone who owns a million-dollar home makes seven-figure salaries. A 2005 Coldwell Banker Previews survey of 300 homeowners whose primary residence is valued at more than $1 million found 57% of households earn less than $500,000 a year.

We reached a milestone a couple years back where more people world-wide were obese than were hungry. Soon we will reach the point where more people are stinkin' rich than frugal.