Foreign Buyers Spend More on U.S. Real Estate

Here Come The Millionaires  

The United States, United Kingdom, Singapore, and Australia are experiencing an influx of millionaires, according to a report from New World Health, which in conjunction with LIO Global, completed a review of worldwide millionaire migration patterns. The report compared the principal location of about 60,000 global high-net worth individuals in 2000 with the same sample in 2014. "Millionaires" were defined as "high-net worth individuals" with net assets of $1 million or more (it excluded primary residences).

The United Kingdom had the highest number of high net worth individuals immigrating from abroad. The majority are coming from Europe, Russia, China, India, the Middle East, and Africa. More high-net worth individuals are also coming to the United States, notably from China as well as the United Kingdom, India, and Russia.

"Wealthy people in emerging markets such as China and India want their children to grow up and go to school in the U.K., U.S.A., etc.," says Andrew Amolis, head of research at New World Wealth, about the study's findings.

Also seeing more millionaires move there, Singapore is also receiving one of the highest migrations of high-net worth individuals, particularly from China, India and Indonesia, while Australia also is seeing its numbers rise from India, China, Indonesia, and the United Kingdom and South Africa.



Daily Real Estate News | Monday, August 03, 2015
Read more: Foreign Buyers Spend More on U.S. Real Estate

Expect a rate increase this Year

Takeaway from Fed meeting: Expect a rate increase this year
Expectations have grown that sometime this year, the Federal Reserve will raise interest rates from record lows. The only question seems to be when.deseretnews.com|,
Although the September meeting, when Yellen is set to hold a news conference, is seen as the most likely time for a rate increase, some analysts think the Fed might wait until December. Read more: AffordableUtahHousing