Quote:
Originally Posted by craigs
"Least dense" is the sticking point for me. I disagree that rich people choose the "least dense" parts of metropolitan areas. Obviously, rich people live in Manhattan and Nob Hill and the Gold Coast, but looking at all of the nation's metropolitan areas it seems to me that most rich people prefer amenity-rich areas that still allow for large single-family homes, not sparsely-populated exurbia. Take Beverly Hills. It is rich, with lots of stand-alone mansions and a ton of urban amenities nearby. It is by no means the "least dense" part of the metropolis.
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Sounds like if I had used 'less dense' we'd basically be in agreement. But, to be fair, there are plenty of rich sparsely populated suburban/exurban places. "Horse Country" type suburbs, which basically all major cities in the eastern third of the country have, are just that. You're still an easy drive to the amenities of the city, but you live on 5+ acres and have a house you can't even see from the street. I can think of tons of examples of these types of communities.
I reject the notion that in America, wealthy people prefer living in dense environments. I just don't see that evidenced outside of NYC. There are pockets of urban/dense in-town wealth in most big cities, but those are usually notable because they're the exception to the general rule. Most wealthy people choose to live in detached housing with some land. Isn't that kind of the whole American dream? Get enough money to have your own castle- however modest or extravagant that may be? To use Chicago as an example, sure the Gold Coast has a lot of rich people. There are penthouses in downtown that go for many millions. But the undeniable hub of wealth in the Chicagoland area is the north shore suburbs. Places like Winnetka and Lake Forest where people have big homes and drive fancy cars.
Where do the richest Detroiters live? Bloomfield Hills in estates, not rowhouses in Brush Park. You touched on Beverly Hills, and I already mentioned Hancock Park in LA. Malibu, Brentwood, the Hollywood Hills...all pretty low density. SF has impressive in-city wealth, and while Pac Heights is far below the average density of SF, it's still an urban neighborhood. But compare the number of wealthy people who live in urban SF with all the wealthy people further south on the Peninsula or across the Golden Gate in Marin. No contest where more live and where more wealth is clustered. Philly's wealth is in the Main Line communities-- far exceeding the in-town wealth. Again, I think only NYC might buck this pattern. And NYC defies basically all American trends and patterns. In many ways it's more akin to a European city than other American cities.