Will a Recession Change the Spending Habits of the Wealthy?

It would take a pretty significant recession to make the wealthy change their spending habits:

• The wealthy will only change their spending habits if the value of their stock holdings dropped more than 19%
  
  
• Their real estate values would have to fall more than 17% for them to change their spending habits
  
  
• Fewer than 1 in 6 would cut back on their spending for destination clubs, private jet services, yachts and yacht charter services

Source: Wall Street Journal Wealth Report, March; The Luxury Institute, 2007.