And The Rich Get Richer!

This is a except from a segment entitled "Luxury Homes Are Hot Properties" by Carrie Kahn
From NPRs 'All Things Considered' Monday July 23, 2007

These days, the high end of the real-estate market is also the hot end. Sales of properties in lower-cost communities have plummeted, while those in the middle are struggling. But the market for luxury properties, those defined as worth at least $10 million, is booming.

John Karevoll, with the real-estate information service DataQuick, says economic growth has benefited the very high-end households more than it has helped middle-income and lower-income ones.

"In fact," Karevoll says, "lower-income households are probably doing worse than they were five, 10, 20 years ago."

According to Census data, middle-income families saw their wealth increase a little more than 7 percent in the last 15 years. Contrast that with the richest 5 percent of the population, who have seen their wealth soar 40 percent.

"It's another gilded age in America," says Rick Goodwyn, publisher of Unique Homes magazine. "The wealthy are rapidly becoming wealthier."

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Joseph (Joe) Ezell

Ridch get Richer

I can second that report. Ya don't want to be in the lower middle class in this country as you are most likely going to slip into the lower class w/o even knowing it.

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Give Thanks for all thatwe have.