There are now 700,000 new millionaire households in the United States, thanks to surging stock prices and housing values, according to CNBC. A new report by the Spectrem Group says that the U.S. now has more than 11 million millionaire households, which is up more than six percent from 2016. The number of new millionaires and the total population of millionaires is setting new records. A millionaire household is that with at least $1 million in investible assets, explains CNBC. Last year, the S&P 500 gained 19 percent and the Dow was up 25 percent, helping boost the number of millionaires. Since the financial crisis, the number of millionaire households has nearly doubled. Back in 2009, there were just under six million millionaire households. Unless the stock market drastically tumbles this year, the growth in millionaire households is likely to continue, CNBC reports.
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