On Apr 28, 7:54*pm, Hawke wrote:


Actually, I've heard the 2% figure numerous times. But it's been in
different places and over the years. The last time I heard it was at a
real estate seminar I attended a few years ago by one of the real estate
gurus, Russ Whitney I think, but he has written several books on making
money on real estate and is a multimillionaire. He was touting the
benefits of buying homes to get ahead like he did. He mentioned the 2%
number.



Hawke

Kind of what I thought. The 2% is not backed by some reference.

For what it is worth, the book " The Millionaire Next Door " has a
table near the back. The table has 5,625,408 as the number of
millionaires in the US in 2005. And gives 5,239 per 100,000 house
holds. So that would be 5 1/4 % .

So maybe the number of millionaires is close to 1 in 19 instead of 1
in 50.

Dan