I'm talking about those with a net worth $2 million or more.
True story - a retired couple I know - both on the pension - sold their primary residence in Clovelly N.S.W. late last year for $5.8 million - been there all there lives.
They bought again in Clovelly for $3.3 million - a smaller townhouse.
They looked at a nice, larger house in Maroubra at the same price point. They didn't want to move.
They are now off the pension, live in Clovelly, have ordered a new Toyota RAV4 hybrid and have +one million to enjoy.
