Reply to Top 3 of nation's 4 richest counties are in NoVa

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]No one disputes Howard and Loudoun are affluent suburban counties.

That the highest concentration of super expensive properties are in Montgomery, the district and Fairfax speaks volume and is the only actual "fact" we have on hand (although Loudoun has its impressive real estate around the Middleburg area, but that has a long history separate from the suburban growth of Loudoun in the last 20 years). The last sentence of yours is pure speculation.

It's like Manhattan. The average HHI in Manhattan isn't particularly high and is lower than many of the suburban counties, but the concentration of genuine wealth in Manhattan is indisputable.

[quote=Anonymous]
All true, but in discussing the wealth of counties, you also have to add up all the more modest, but positive, net worths of Howard residents vs. the smaller, if not negative, net worthy of an increasing percentage of Montgomery residents. You also have to allow for the possibility that less of the wealth of residents of places like Howard and Loudoun may be tied up in local real estate.[/quote][/quote]

The other facts on hand obviously are those that prompted the thread: the counties with the highest HHIs in the country (for which data is available for many years).[/quote]

I believe the conversation was shifting away from average HHI to genuine wealth.

When you get down to it, it's impressive that Montgomery County is more than three times the size of Howard County, more diverse, and still has an average HHI that is only slightly behind Howard. 100k versus 110k.  I bet if you divided Montgomery into 1/3ds and took the Bethesda-Potomac third its average would be much higher than Howard. Bethesda and Potomac have average HHI 180k+. Ditto for McLean in Fairfax.

You might enjoy this link:
http://www.cnbc.com/2014/02/26/10-richest-neighborhoods-in-us.html

Potomac, Bethesda and McLean areas are included. Nothing in Howard. 
[/quote]

I think the conversation was probably trying to shift away from the implications of the decline in HHI in Montgomery, not in absolute terms but relative to other area jurisdictions.

What are the long-term implications of this?  To what extent will people who may not be wealthy now, but will have high net worths later, going to avoid MoCo because they believe they'll be heavily taxed to support the growing number of low-income residents?  Or, conversely, what, if anything, should MoCo need to do to reverse its relative decline?  Are comparisons to marquee places like Manhattan relevant when discussing a suburban county? [/quote]

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