In the news…

Report: Bay Area millionaire households up 11% from 2006And other cities with a growing waistline of millionaires include Detroit, of all surprising places. Actually, it might sound like a satire, but the headline is no bull: the global rich just get richer. Where are they putting the money? Real Estate: “In 2006, High Net Worth Individuals shifted more money into real estate investments, at times liquidating some of their alternative investments to fund these real estate opportunities. Global direct real estate transaction volumes reached U.S. $682 billion in 2006, up 38 percent from 2005.” And in other news: Study Finds Imbalance on 3 Newspapers’ Op-Ed Pages. Plus, California is on fire.

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