It's been shipped from amazon and should be here in time for me to read on my flight to Denver next weekend. The book was released June 5th and Frank talks about it in his blog that day.
Robert Frank, of the Wall Street Journal, spoke at the Leaders in Luxury conference in Dallas last fall, and gave us some of the information in the book. I was enticed, and signed up on the waiting list right away.
The really wealthy may not live in a different world, but they do live in a different country, one Frank calls Richistan. You may not care that the wealthy keep up with the Jonses with 400 foot yachts with basketball courts, submarines and tender yachts or that they buy $47,000,000 Gulfstream jets.
You should care about the demographics.
- Those with a paltry net worth of $1 million to $10 million live in Lower Richistan.
- Those with $10 million to $100 million live in Middle Richistan.
- Those with $100 million to $1 billion or more live in Upper Richistan.
You may want to know that the number of millionaire households has doubled since 1995 - as have households worth $10 million or $50 million. You may want to know that the richest 1% of Americans earn more each year than the total national incomes of France, Italy and Canada.
If you think about these things, and determine how they will affect your market and your clients, and meet these needs, you may have the cutting edge on serving some of these clients.
Hi Sharon !
Thanks for sharing this info with us. Keep posting !
Nalliah Thayabharan
Commercial and Residential Building Inspector
Expert Building Inspections Ltd
Sharon,
Sounds like a good read for someone (me) considering the luxury home market! Thanks for sharing :)
Tony - I heard there was a magic Oriental carpet. The trip is so fast there isn't even time to sit down. As fast as you can imagine it, you're there.
Suzanne - as you'll see, there are the rich and there are THE RICH.