this post was submitted on 20 Dec 2024
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I'd love to see that broken down further. I'm guessing there's a bunch of really rich households at the top that skew the average.
Without diving into the data behind this, I'm willing to bet that there's a plateau around the $1 million mark, caused by simply owning a detached home in certain markets.
It's a good thought, but I'd take that bet with you. Houses can be remortgaged, or alternately converted to a rental while you get a second place. I suspect any bump is pretty small because people just continue to accumulate if they can.
You can always find a smaller and vastly wealthier subset, right until you're down to the single digits of people.
There's no dividing line like some people imagine, though; it's a continuous distribution that we're all somewhere (lower) on. Probably because it's produced by a random walk.