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The average home value has reached $1 million in 481 U.S. cities, double the number of locales in 2017, according to data from the online real estate brokerage Zillow.
In 2021, 146 cities reached that mark.
“The geography of wealth in the U.S. has begun to shift, as 2021 was the first year for both Idaho and Montana to place any cities on this list, and now those Western states boast three million-dollar cities each,” Zillow’s senior economist Jeff Tucker said in a statement.
An additional 49 cities could add their names to the list by July if home prices continue rising at their current pace, Tucker said.
U.S. home prices rose 19.3 percent during 2021, according to the National Association of Realtors.
California, Massachusetts, and New York had the most new cities with seven-figure average home values, probably because homes in many parts of those states already were pricey and had less distance to go before entering the million-dollar circle.
Among lesser-known cities now boasting a million-dollar average home price at the end of 2021:
- Garrison, Mt: average price $1.2 million, up 26 percent
- Gallatin Gateway, Mt: average price $1.2 million, up 33 percent
- West Glacier, Mt: average price $1.2 million, up 23 percent
- Ketchum, Id: average price $1.1 million, up 32 percent
- Sun Valley, Id: average price $1 million, up 31 percent
- Hayden Lake, Id: average price $1 million, up 47 percent
- Brentwood, Tenn: average price $1 million, up 37 percent
TREND FORECAST: We have detailed extensively in this and other Trends Journals the growing gap of income inequality in the United States as the Bigs get Bigger, the rich get richer, and the average American keeps getting poorer. (See “COVID WAR MAKES THE RICH RICHER,” “SLAVELANDIA: RICH GET RICHER, POOR GET POORER,” “LOCKDOWNS LEAVE 22 MILLION JOBLESS IN RICH COUNTRIES” and “$4 TRILLION FOR BILLIONAIRES AS MIDDLE CLASS SHRINKS.”)
There are 37.2 million Americans living in poverty in the U.S., which marks a 3.3 million jump since 2019. The report pointed out that married families had the lowest level of poverty at 4.7 percent.
As Gerald Celente has said, “History shows that income inequality is a factor in social unrest and political revolution…Wealth inequality will become an even more central issue in upcoming elections and will draw more people and energy to anti-establishment political movements.”
Indeed, as the middle class keeps shrinking and the billionaires keep getting richer, get ready for “Off With Their Heads 2.0” movements to rage across America and the globe.