8

According to a Martin Thomson article at zeromillion.com:

8/10 millionaires surveyed found their wealth in Real Estate.

I can't find a reliable source for that statistic.

  • 2
    Argh! The maths in that article is all over the place. Buy 5 properties at $100K each, and then in 20 years they are all worth $500k each, (8.3% p.a. long-term capital growth for residential houses? Nice investing!). Oh wait, in the next sentence they are worth $600K each. And that's the SLOW way to invest? – Oddthinking May 21 '14 at 2:53
  • I'm guessing that we are defining a millionaire here as total assets and not just liquid ones? – rjzii May 21 '14 at 12:57
  • 13
    The claim not that 8 of 10 millionaires made their money in real estate. The claim is that 8 of 10 millionaires surveyed made their money in real estate. These claims are worlds apart. They could have done their survey at a real estate agent convention. And if I were a betting person, I would bet they did something very much like that to get a "statistic" that favors them. – Flimzy May 21 '14 at 13:19
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    Up here, I'd say it's more likely that 8 out of 10 millionaires spent their fortune on real estate. There are cities up here where the cheapest houses go for $500k. – Compro01 May 21 '14 at 14:05
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    If anyone does answer this can they put in the context that 7.5 out of the 8 also lost their billions in real estate, some more than once. – matt_black Jul 16 '14 at 20:55

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