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Affluent Market Tracking Study #12, Fall 2007: Survey of the Wealthiest 10% of US HouseholdsPublished by: American Affluence Research Center Published: Oct. 15, 2007 - 22 Pages Table of Contents
AbstractThe 12th 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 Fall 2007 report is derived from a series of questions about multiple home ownership, including the number of homes owned for personal use, the value of the primary vacation home, and the distance between the primary residence and the primary vacation home. Research Methodology This research is based on self-administered questionnaires mailed to a randomly selected, national sample of 4,950 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: $302,500 average household income, $3.3 million average household net worth, and $1.5 million average household investable assets. The average value of their primary home is $1.2 million. The average age is 54 while 90% are married and 60% are males. The sample represents 31 states plus the District of Columbia. The overall survey response rate was 15.1 percent. These survey results are based upon the 615 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. Additional Information These surveys focus on the 11.2 million households that represent the wealthiest 10% of all U.S. households, based on net worth. The latest research available from The Federal Reserve Board indicates these households:
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