Wealthiest Americans have higher expectations for their stocks this year, but worried about the prospects for real estate, according to a survey released Tuesday.
Nine of the 10 wealthy portfolio holders said they expect their portfolios to increase in the year 2006, according to the year 2006 U.S. Trust Survey of Affluent Americans. On average, they expect returns of 8 percent of U.S. stocks.
Faith in the real estate market, however, weak: Only 48 percent said they expect real estate values rise in next year, down from 72 percent who thought it would in a survey last year.
Thirty-three percent of respondents expect the value of real estate decline during the next year. That figure is up from 14 percent who thought that last year.
The survey, conducted by asset manager U.S. Trust, polled Americans with annual adjusted gross income of more than $ 300,000 or net worth greater than $ 5.9 million, including real estate.
Concerns about the economic future of the next generation of top concern of the rich. Eighty-three percent of respondents listed as their biggest concern, up 2 percentage points from the previous year.
Alternative investment vehicles such as venture-capital, private equity and hedge funds are making less than 5 percent of the typical portfolio investors prospered.
Regarding the federal estate tax rate, 47 percent said there should be no land tax. The majority, however, believes 18 percent would be an appropriate land tax rates.
www.money.cnn.com
Nine of the 10 wealthy portfolio holders said they expect their portfolios to increase in the year 2006, according to the year 2006 U.S. Trust Survey of Affluent Americans. On average, they expect returns of 8 percent of U.S. stocks.
Faith in the real estate market, however, weak: Only 48 percent said they expect real estate values rise in next year, down from 72 percent who thought it would in a survey last year.
Thirty-three percent of respondents expect the value of real estate decline during the next year. That figure is up from 14 percent who thought that last year.
The survey, conducted by asset manager U.S. Trust, polled Americans with annual adjusted gross income of more than $ 300,000 or net worth greater than $ 5.9 million, including real estate.
Concerns about the economic future of the next generation of top concern of the rich. Eighty-three percent of respondents listed as their biggest concern, up 2 percentage points from the previous year.
Alternative investment vehicles such as venture-capital, private equity and hedge funds are making less than 5 percent of the typical portfolio investors prospered.
Regarding the federal estate tax rate, 47 percent said there should be no land tax. The majority, however, believes 18 percent would be an appropriate land tax rates.
www.money.cnn.com
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