Reply to Why do UVA and Michigan attract such affluent student bodies?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]One reason U of Mich got so good is that the Detroit area was one of the wealthiest in the world for a while due to the auto industry. And even after the American auto industry sagged in the last 35 yrs of the 20th century, there was/is still a lot of money in the state. There are suburbs of Detroit you wouldn’t believe. [/quote]

I can never figure that out..tons of high level jobs are gone from the Big Three. And suppliers usually have piss poor margins. So where do all the people in Bloomfield Hills or Grosse Pointe work? Or is a lot of it inherited money?  Everybody can't own an insurance company or be a financial advisor.[/quote]

You can't even imagine how many well-paid jobs there once were in the domestic auto industry.  But there still are plenty left.  And some Japanese, Korean, and other OEMs have offices in Detroit. There are many dual engineer couples here.  2 people making $80K each (low for mid-career supplier money) can easily afford a nice house in the local equivalent of the Wooton zone.

Plus the Boomer white collar retirees are drawing 50% pensions or more.

Bloomfield Hills is full of CEOs.

Grosse Pointe is a mix.  That might be where dual attorney couples go to live if they like traditional homes.  There is some old money there. (Grosse Pointers, help me out!)

By the way, money pit historic mansions are really cheap in Detroit.   Executives that pass through like to buy them for a few years.

Oakland County used to be as affluent as Montgomery County.  That is not true anymore.  But it hasn't been that long since it was.  The K-12 schools are not as good but from what I read, MCPS and Fairfax schools have many of the same problems.

Unfortunately, another round of offshoring is beginning.  Chrysler's latest European parent (Stellantis) is planning to transfer more U.S. engineering work to emerging economies.[/quote]

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