That's assuming every millionaire wants to buy a house, and doesn't already own one. I think it's a bit charitable to say 100% of newly minted IPO millionaires

That's assuming every millionaire wants to buy a house, and doesn't already own one. I think it's a bit charitable to say 100% of newly minted IPO millionaires are willing to extend themselves that far, especially with the widespread belief that we are are on the verge of a recession.