The mood of owners of 69% of the American net worth are feeling better. No wonder equity mutual fund inflows and home purchasing are up. Perhaps a virtuous cycle is beginning to take effect . . .
According to survey by Ipsos (here) . . . “ affluent optimism in the U.S. economy, and in their own futures, has risen significantly. In February, 43% of Affluents were optimistic about the U.S. economy, up from 40% in December 2012, and 34% in October 2012. In contrast, only 36% described themselves as pessimistic in February 2013.
In addition, 52% now believe they personally will be better off in 12 months, up from 41% in December 2012. The survey defines “Affluent” as adults living in households with at least $100,000 in annual household income. Approximately 20% of the U.S., Affluents hold 69% of the privately held net worth in America, and are vitally important for many marketplace categories including luxury, automotive, financial, technology, and travel. Dr. Stephen Kraus, SVP & Chief Insights Officer, concludes: “Affluent optimism has risen in 2013, buoyed by the performance of stock and housing markets, as well as perceived improvements in the economy as a whole, and the job market in particular.”
This is encouraging. Jeb B. Terry, Sr. March 16, 2013