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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If the high income earners are "fleeing" MoCo, why are there so many $1mil+ condo/TH opening up hear me in MoCo. Who the heck is buying up these expensive homes?  [/quote]

They are fleeing:

https://harpswellstrategies.com/wp-content/uploads/2021/06/Post-Pandemic-Economic-Leadership-for-Montgomery-County.pdf

[quote]

Montgomery County failed to capture its pre-2007 share of regional job growth, leading to a cumulative impact of more than 14,000 high quality jobs in key industry sectors that chose to locate elsewhere in the region.

From the 1st quarter of 2016 through the 3rd quarter of 2020 (most recent data available), Fairfax County gained more jobs and gained jobs at a faster rate than Montgomery County in the research and development in the physical, engineering, and life sciences industry.

Montgomery County actually lost private business establishments from 2007 to 2019, while in the rest of Maryland the number of private establishments increased by 6.9%. During that period, private establishments in Fairfax County increased by 12.5%, in the District of Columbia private establishments increased by 21.6%, and in Arlington County private establishments increased by 21.9%.

Montgomery County’s neighbors are offering large incentives to employers on the move and to spur development. For example, Virginia offered Microsoft $22.5 million to move 1,500 jobs to Reston ($15,000 per job). This is well above the recent Montgomery County/State of Maryland combined award of approximately $11,700 per job. Given that businesses in Maryland must also overcome significant structural disadvantages (e.g., local piggyback income tax, higher corporate taxes, etc.), these awards are well below the level that would be necessary to incentivize a business to choose a Montgomery County location rather than a comparable location in Northern Virginia.
[/quote]

MoCo is already losing to other parts of Maryland itself.  PG is now creating more jobs than MoCo. Look, if you are going to have high crime and crappy schools, then at least drop the taxes.  Of course that doesn't happen in MoCo. [/quote]
I see you have reading comprehension issues. I'll repeat:

If the high income earners are "fleeing" MoCo, why are there so many $1mil+ condo/TH opening up near me in MoCo. Who the heck is buying up these expensive homes?  I wfh, and every so often when I go run an errand I see all these new builds everywhere. It's crazy.  Developers aren't building these expensive homes out of the goodness of their hearts.  These are pretty expensive TH and condos.

So, again, if UMC people are "fleeing" MoCo, why are there so many new builds of expensive homes?  [/quote]

I see you are conflating all sorts anti-developer sentiment and huge inefficient bureaucracy with actual free market economics and high prices.  Lol, when you create artificial shortages because of crappy county execs like Elrich, of course prices are high.

San Francisco also has high housing costs, but that doesn't change the fact that they're hemorrhaging people trying to escape the suffocating progressivism that has ruined SF.[/quote]
With all the homorrhaging, SF still has huge housing costs.

I'm not anti-developer, at all.  I just notice all these new builds that are super expensive. How can there be a shortage if I'm seeing a sh1t ton of new builds everywhere I drive around. There is shortage of cheaper homes, sure, because there are too many people with money here driving up prices.

Interesting you bring up "free market economics". With all the new builds, if people were fleeing, you would think the demand would go down, so those new build prices would go down. But, they are not going down to the level of "people are fleeing MoCo".

Again, answer the question.   Why are there so many expensive new builds if the wealthy are fleeing MoCo.

Oh, and btw, interesting you bring up SF.  I used to live there.  I "fled" because I got priced out due to  so many more wealthy people driving up the cost.

I don't think you understand how supply and demand works.

Here.. let me explain... WV, for example, housing is dirt cheap. Why? No demand.  Places like Austin, TX are seeing their housing costs go up rapidly? Why? Lots of demand. Note that Austin is not a red city.  Even as we see some people leaving the Bay Area, the housing costs are still ridiculously high. Why? Lots of demand from people with high paying jobs.    Certain places in TX still have cheap housing costs. Why?  Not a lot of high paying jobs and not too much demand.

Econ 101 of Supply and Demand.[/quote]

Imagine being ignorant of all of the supply chain issues and the govt artifically pumping the housing market with low interest rates and tons of liquidity and trying to setup an argument that high housing costs in an area like MoCo *must* = desirability and good QoL.  [/quote]

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