The Miami Herald reports “The number of people around the globe with at least $1 million in assets swelled by 6 percent last year, to 10.1 million, that means an additional 600,000 people became millionaires or richer”.
“South Florida millionaires are also on the rise, mainly from foreign nationals from Latin America and Europe“, according to Carlos Torre, resident director of Merrill Lynch in Miami. The percentage of millionaires in Miami-Dade and Broward increased 14 percent to include 52,521 households, according to the Merrill Lynch report.
“The wealthy continue to come here from countries that are experiencing political or economic uncertainty” said Torre.
With all the gloom and doom daily reports in the media, this wealth increase offers a glimpse of hope in our battered real estate market.