You make money when you buy, not when you sell a home, suggests one popular idiom. That could be the reason the wealthy are trolling for bargains.

While most of America is struggling with four percent gains in inflation, the wealthy, with discretionary income of $100,000 or more, believe that today's market is a good time to buy.

According to The Annual Survey of Affluence and Wealth in America, from American Express and the Harrison Group, 40 percent of the nation's wealthy plan to buy real estate in 2008.

The participants were divided into groups -- the upper middle class ($100,000 to $149,000 annual income), the affluent ($150,000 to $249,000) and the super affluent ($250,000 to $499,000.)

Of the wealthiest, 41 percent said that owning a second home was "almost a requirement," with 33 percent in the market for such a home in 2008. One quarter are shopping for a third home.

The wealthy view real estate as diversification from their other investments, and 88 percent believe that real estate values will rebound. Asked if the real-estate market represents a buying opportunity, 67 percent of upper middle class respondents agreed, as did 72 percent of the affluent and the super-affluent.

But only the most wealthy were more committed to putting their money where their mouths are. Seventeen percent of upper middle class respondents plan to buy a home this year, as do 24 percent of the affluent and 26 percent of the super-affluent.

Not that it means they're scared of the market. They simply could already be real estate owners.

One in ten homeowners owns a second home, twenty three percent of homeowners age 45-64 own two or more homes, as do 24 percent of those aged 65.

One-third of the homes sold in 2007 were to second-home buyers and investors, says the National Association of Realtors, even though only 13 percent had incomes above $100,000.

Owning real estate isn't just for the wealthy. It could be one of the best ways to become wealthy.

Published: April 17, 2008

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Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. For more articles by Blanche, click here.