Living La Vida Local
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residents, a numerical gain of 41,357 persons (the largest in the state); (# 2.) San Diego +0.8% to 1,311,162 (a numerical increase of 10,819 persons); (# 5.) Long Beach +0.3% to 490,166 residents (a numerical gain of 1,478 persons); (# 9.) Santa Ana +0.2% to 351,322 residents (a numerical increase of 867 people); and (# 10.) Anaheim +0.2% to 342,410 residents (a numerical gain of 602 residents).

Los Angeles County had 16 cities with a population of over 100,000. (The smallest city was Vernon with a January 1, 2006 population of 95 people.) Orange County had 8 cities with more than 100,000 residents, while Riverside County had three, and San Bernardino, San Diego and Ventura counties each had four. (Jack Kyser) PR: http://www.dof.ca.gov/

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The Latest Census by the Los Angeles Homeless Services Authority

We bet you would like to know the results of a census conducted by the Los Angeles Homeless Services Authority regarding who is homeless and why.

As may or may not be expected, the West Side homeless population is predominantly white men who are most likely war veterans, mentally ill or chronic substance abusers.

The census was conducted in January of 2005 by LAHSA with the help of Applied Survey Research. Volunteers of the effort walked census tracts and physically counted those living on the streets and those in shelters. A statistical projection was used for the census tracts not counted, along with a telephone survey to identify locations of the “hidden” homeless, or homeless people living on private property. The result was a Los Angeles County homeless population of 88,345.

In Santa Monica, there are approximately 1,991 people sleeping on the streets or in shelters on any given night. Individuals represent 91 percent of that figure, while families make up 9 percent, according to the census.

The most detailed information on race, age and other factors was provided only for regions known as county “service planning areas,” or SPAs. SPA 5 includes Santa Monica, Culver City, Inglewood and El Segundo, and reaches north to the Ventura County line. In SPA 5, there are a total of 6,860 homeless people. More than half are considered chronically homeless, and this is the second highest rate in any area. Chronic homeless are those who are disabled and have been continuously homeless for longer than one year, or have been homeless intermittently more than four times in three years. Just over a quarter of those counted in SPA 5 are veterans; 63 percent are men and 22 percent are women. Nearly a third are African American, while 49 percent are white and 9 percent Latino.

The Southern California region is home to 12 percent of the nation’s homeless, city officials said.

For the record, poverty rates increased in 41 states and the District of Columbia between 2000 and 2003, says the Coalition on Human Needs. States with the highest percentage of people in poverty: Louisiana (20.3%), Mississippi (19.9), and New Mexico (18.6).

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A survey released today by TNS Financial Services ranked Los Angeles County, Calif., the wealthiest county in the United States, based on the number of millionaire households.

TNS' annual survey of wealthy U.S. households is based on a representative national sample of more than 1,800 households with a net worth of $500,000 or more, excluding primary residence.

According to the survey, Los Angeles County has 262,800 millionaire households, which constitutes 23 percent of the state's wealthiest households, the survey found. Cook County, Ill, came in second with 167,873 millionaire households, followed by Orange County, Calif. (113,299 households); Maricopa County, Ariz. (106,210 households); San Diego County, Calif. (100,030 households); Harris County, Texas (96,593 households); Nassau County, N.Y. (78,816 households); Santa Clara County, Calif. (75,371 households); Palm Beach County, Fla. (69,871 households); and Middlesex County, Mass. (67,552 households).

The number of U.S. millionaire households is on the rise, according to the survey, as the number of households with more than $1 million in net worth (excluding primary residence) rose in 2005 for the third consecutive year. This increase is due to long-term wealth accumulation, not new wealth creation or real estate investments (while real estate continues to be an investment portfolio staple, it is not the sole cause of wealth). Forty-six percent of millionaire households own investment real estate such as a second home, third home, rental properties and undeveloped land. Thirty-four percent have a first mortgage on these residences and 25 percent have second mortgages on these additional residences, the survey reported.

"With the increasing number of millionaire households comes an increasing confidence as over three-quarters of high-net worth households feel they will be financially prepared for retirement," said Jeanette Luhr, manager of the research study. "These millionaire households understand that calculated risks are still a necessity within their portfolio design, however, over 50 percent have become much more conservative in their investment approach over the past year."

The mean net worth (not including the primary residence) for these millionaire households is $2.16 million; mean investable assets are $1.44 million, the survey found. The median age for the head of the millionaire household is 58 years old, and almost 45 percent are retired.

Approximately 19 percent own or share ownership of a professional practice or privately held business, the survey found. Nearly 60 percent of millionaire households obtain investment advice from a professional advisor and more than 73 percent prefer to do business at a single institution that brings together targeted specialists and services. When asked to identify their single most important financial goal, the leading response was, "to assure a comfortable standard of living during retirement."

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