Reply to Why are homes in the DMV not nice?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]There isn’t a lot of real money in DC.  Almost everyone is here for work. There aren’t insanely wealthy people like you’d find in LA, NY etc. [/quote]

There is a decent bit of money here. People are just more modest and less showy because it is in poor taste to be flashy with your wealth. Many households here that 30-100M in assets. However, these people often live in the same 1-3M neighborhoods that others live in. They don’t have super fancy houses, just slightly nicer than average houses in premium locations. [/quote]

This is very true. I work in private wealth and my clients on the upper ends of the 20-50M level live in very nice areas but have modest homes that are well maintained. Their home splurge is usually a large vacation house in FL or DE. Not uncommon for an old 3500 sq ft Bethesda house that looks middle class but they have a 3-5M vacation home on the short that’s 6k square feet to host their kids and grandkids. [/quote]

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