Number of millionaire households nears all-time high

Hong Kong has the world's most expensive properties.Though not at its peak, millionaire households are becoming more common?across the country, new data shows.According to market research firm Spectrem Group, there are roughly 9 million households within the contiguous U.S. with a net worth exceeding $1 million,?after increasing by 400,000 last year. The number of luxury households are still below 9.2 million, which is a record high that was reached in 2007.George Walper, president of Spectrem, indicated that many people who were hit hard by the recession have been able to mount a significant recovery, largely because of the improvements made in the stock market.Recently, the Dow Jones Industrial Average closed at the record level of 14,563.While Lone Star State residents know that Texas has its fair share of homes that qualify as luxury, particularly in the Houston real estate scene, they don't make business magazine Forbes' list of the world's cities that have the most expensive properties. At approximately $11,000 per square foot, that distinction goes to Hong Kong,?Tokyo, London, Paris and Moscow round out the five international cities where luxury properties are the priciest. The only domestic metropolitan area to make the list was New York City, coming in at number six.
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