Reply to MoCo getting poorer: 1 out of 2 new households earns under $50k

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Reply to "MoCo getting poorer: 1 out of 2 new households earns under $50k"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Income inequality is increasing in our entire country.  This isn't new for MoCo.  The rich are getting richer, prices of everything from groceries to rent are increasing so the poor are staying stagnant or getting poorer.  [/quote]
Except the rich in MoCo are not getting richer. They are moving out.

If you check housing prices in supposed rich areas of MoCo, it is common to see many houses have not exceeded housing bubble pre-GFC highs of 2006. This is not true for affluent areas in DC or Fairfax. [/quote]

Do you have any citations for your premise that the rise in cost of homes in "rich areas" is lagging behind other neighboring areas?  I have seen no such statistic and have not anecdotally seen a large SFH that has not gone up in price astronomically (absent individual discrete issues)

As a secondary point, I don't think all would agree that the extremely wealthy leaving the county is a bad thing.  I would be completely happy if MoCo was trending toward less homes in the 8 or high 7 digits and more homes in the middle.

[/quote]

The problem is that the top 1% pay a huge percentage of the income taxes.  CA and NY fully understand this dynamic.  At the federal level, top 1% paid roughly 45% of all income taxes.   [/quote]

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