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Affluent Market Tracking Study #11, Spring 2007: Survey of the Wealthiest 10% of US HouseholdsPublished by: American Affluence Research Center Published: Apr. 18, 2007 - 27 Pages Table of ContentsSurvey Highlights Introduction and Discussion Respondent Profile Geography, Age, Gender, Net Worth, Income, Investable Assets Outlook for the Economy, Stock Market, Personal Household Income & Savings Current and Future Business Conditions Expectations for the Stock Market, Personal Income & Savings Economic Outlook Summary by Demographics Historical Affluent Consumer expectations (ACE) Indexes Investment Objectives Historical Tracking Data Investment Objectives by Demographics Major Purchases in the Next 12 Months Historical Tracking Data Planned Purchases by Demographics Expected Changes in Spending for 17 Products & Services Historical Tracking Data Private Residence and Destination Clubs for Vacation Homes Concept Familiarity Brand/Company Familiarity Brand Awareness - Private Residence Clubs Brand Awareness - Destination Clubs Fractional Concepts for Private Jets, Yachts and Exotic Cars Concept Familiarity Current Ownership - Second Homes and Fractional Concepts Value of Wholly-Owned Second Homes Purchase Interest in Next 12 Months-Second Homes and Fractional Concepts About The American Affluence Research Center AbstractThe eleventh in a continuing series of research reports based on twice-yearly surveys of the most affluent 10% of U.S. households (a total of 11.2 million households with an average $3.1 million net worth). These surveys regularly measure and track their current views as well as their 12-month outlook for the economy, the stock market and their personal earnings, savings, and investment objectives. The survey tracks plans for major purchases (vacation homes, primary residences, home remodeling, automobiles, boats, and cruises) during the next 12 months. The survey also tracks anticipated changes in spending during the next 12 months for 17 categories of products and services. These include fine jewelry and watches, domestic and international travel, dining in casual and upscale restaurants, furniture, major appliances, entertainment equipment, home computer equipment, entertainment, recreational activities, collectibles, designer and non-designer apparel, and charitable and political contributions. For much of the preceding, the report shows historical trend data and data by demographic segment within the overall affluent population. New information in this Spring 2007 report is derived from a series of questions about vacation home ownership, familiarity with the concepts of Private Residence and Destination Clubs, and familiarity with similar concepts for private jets, boats, and exotic cars. Brand awareness, current ownership, and interest in purchase were also measured for the various concepts and products. Current ownership of wholly-owned second homes and any plans to purchase one for seasonal or year-round use were also identified. Research Methodology This research is based on self-administered questionnaires mailed to a randomly selected, national sample of 3,900 men and women in households that, based on their income and ownership of certain assets, were expected to meet the minimum net worth requirement of $800,000. The profile of the sample is as follows: $339,000 average household income, $3.1 million average household net worth, and $1.7 million average household investable assets. The average value of their primary home is $1.2 million. The average age is 53 while 91% are married and 52% are males. The sample represents 33 states plus the District of Columbia. The overall survey response rate was 12.4 percent. These survey results are based upon the 398 men and women who promptly responded to the survey and met the minimum net worth requirement. The maximum margin of error of this survey, at 95% confidence, is five percentage points.
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