It's insanely humble by billionaire standards. Any FAANG SWE over 30 or so in the United States can get that. Contrast with multiple compounds, entire islands, etc.
Buffet surely made lots of upgrades and has added plenty of material comforts.
But it is quite possible to be a kind of lazy where even 10-20x current wealth, people would live where they currently live. American neighborhoods are reasonable that way. It is just primary home and they would holiday/vacation wherever.
It is highly unusual for someone to stay put after their net worth increases tenfold. Normally, you would expect an individual to seek out more elite social circles and embrace a significantly more opulent lifestyle. Not having that isn’t a sign of laziness (one can be certain that someone like Warren Buffett lives exactly as he chooses) but rather a reflection of the rare ability to decide that what he has is already enough.
That’s not far off the current median home sales price in San Francisco and easily the median home price in many, many upper middle class neighborhoods across the country.
How many households in the US can afford a $1.5m home? Assuming they need $400k then we can see that that’s a 95th percentile household income in the US, which translates to about 6 million of the US’s total 135 million households.
Redfin has data showing about 8 million homes are worth $1 million plus, so 5 to 6 million households at the $1.5m mark seems about right as an estimate - or put another way - about 5% of US households could afford Warren Buffets home (but maybe not on a 95th percentile income in Omaha, Nebraska).
rapidfl|2 months ago
But it is quite possible to be a kind of lazy where even 10-20x current wealth, people would live where they currently live. American neighborhoods are reasonable that way. It is just primary home and they would holiday/vacation wherever.
tmule|2 months ago
esseph|2 months ago
That is so few people.
So, so, few people.
Rough lookup says less than 150,000 people in the US, or 0.044% of the US population.
rhplus|2 months ago
That’s not far off the current median home sales price in San Francisco and easily the median home price in many, many upper middle class neighborhoods across the country.
How many households in the US can afford a $1.5m home? Assuming they need $400k then we can see that that’s a 95th percentile household income in the US, which translates to about 6 million of the US’s total 135 million households.
Redfin has data showing about 8 million homes are worth $1 million plus, so 5 to 6 million households at the $1.5m mark seems about right as an estimate - or put another way - about 5% of US households could afford Warren Buffets home (but maybe not on a 95th percentile income in Omaha, Nebraska).
https://www.redfin.com/news/million-dollar-homes-increasing/
sadeshmukh|2 months ago
smokel|2 months ago
brcmthrowaway|2 months ago