Lumber crash leads to 'blowout' sales as prices crater

Re:Lumber crash leads to 'blowout' sales as prices crater by pjc50 on Thursday September 16, 2021 @04:29AM (#28549367)

Congratulations, you're in the top 1%.

There aren't that many people above you, but 1% of the US population is still millions, and they have an outsized influence and visibility.

Property also suffers from "pigeonhole" effects; a few foreign millionaires parking their money in empty properties at the top end causes everyone to move along one.

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Re:Lumber crash leads to 'blowout' sales as prices crater by tmountain on Thursday September 16, 2021 @08:01AM (#28550589)

The threshold to be in the top 1% in the US is 11M. A US citizen needs 4.4M to be in the top 1% globally. More than 8% of US families fall into the millionaire category.

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Re:Lumber crash leads to 'blowout' sales as prices crater by Invictus0 on Thursday September 16, 2021 @09:05AM (#28551208)

In my opinion, it's more meaningful to look at top X% as a function of age bracket. Any moderately successful American born in 1950 is probably a millionaire today.

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