The Rise of the Super Rich.
I was watching a special on TV about the rise of the super rich. It is a new bread of young wealthy people. Who are these people that slip under the radar. They are Hedge Fund Traders. Real Estate investors and players in the Hi-Tech world. What is different about this new generation of wealth is that they spend big. This group is the $30Million and up. They interviewed a woman that started her own internet business and her worth was $10 million. She was sharing that she did not consider her self rich. She was saving that she did not have the luxury of living the life style of the rich and famous.
Back to the $30Million and over group. Buying private jets went up 30% from 2001 even with fuel prices what they are. They vacation big to and there is actually a lack of vacation destination to care for this growing group. It is not uncommon to purchase $26 million dollar homes then in two years have the need to find something bigger and grander. Are there any real estate agents out there that can take care of these people?
On this program they were interviewing stores clerks and owners on Fifth Ave in New York City. According to sale people in these fashion hot spots there is no recession. Women are buying name brand designer bags at $18,000 a bag. How about $2,500 for a pair of shoes, pretty crazy. So the good news is there is still money out there and the Super Rich are still out there buying 2nd and 3rd homes and taking expensive vacation in a lot of our back yards. As for me I am going back to work and to my humble home sweet home. I will have my eye open for that perfect $25 million beachfront home, how sweet it is. www.nickensmaui.com or www.nickensmaui.com/wailea_condos.htm
Steven Nickels R(S) GRI
The Wailea Group LLC.
Wailea Maui, Hawaii 96753