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Reply to "Top 3 of nation's 4 richest counties are in NoVa"
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[quote=Anonymous][quote=Anonymous][quote]There's some correlation, but folks discussing an article on median income and using the word "wealth" clearly have no clue. Lots of DMV counties have had very high median incomes for decades, but only recently have had significant numbers of really wealthy folks (though higher income=income more valuable land=higher housing wealth). Howard County, in my understanding, still follows this pattern. But the country is full of place with massive wealth and not-super-high median HHI: Palm Beach County and probably Cook County come to mind.[/quote] This is a good comment. The DMV area is probably not an area where lots of people who are really wealthy choose to live (and those people can choose). It's an area where working people make high wages. Yes, some wealthy people are here, but not in high numbers. [/quote] True to some extent, but obsessing about whether some tycoons are holed up in Palm Beach or Greenwich still reads a bit like an attempt to deflect attention from the fact that there is a now a major concentration of high net worth individuals in the DC area. You literally have tens, if not hundreds, of thousands of people who could move to other parts of the country and buy some of the most expensive properties in those areas without breaking a sweat.[/quote]
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