Thursday, March 30, 2006

Wealthiest Counties -- Marin Need Not Apply

Marin didn't even rank among the wealthiest counties according to this survey. What is Marin's hubris founded on if not its imagined sense of self-worth? That's gotta hurt. ;)

Some choice quotes:
A survey released today by TNS Financial Services ranked Los Angeles County, Calif., the wealthiest county in the United States, based on the number of millionaire households.

TNS' annual survey of wealthy U.S. households is based on a representative national sample of more than 1,800 households with a net worth of $500,000 or more, excluding primary residence.

According to the survey, Los Angeles County has 262,800 millionaire households, which constitutes 23 percent of the state's wealthiest households, the survey found. Cook County, Ill, came in second with 167,873 millionaire households, followed by Orange County, Calif. (113,299 households); Maricopa County, Ariz. (106,210 households); San Diego County, Calif. (100,030 households); Harris County, Texas (96,593 households); Nassau County, N.Y. (78,816 households); Santa Clara County, Calif. (75,371 households); Palm Beach County, Fla. (69,871 households); and Middlesex County, Mass. (67,552 households).

23 Comments:

Anonymous Anonymous said...

This survey is based on total number of households in each county with net worths greater than $1m. I suspect that if you measured wealth per capita, Marin would do a lot better.

In the 2004 Census, Los Angeles County had 9.9 million residents, Santa Clara had 1.6 million, and Middlesex, MA had 1.4 million. Marin had a mere 246,045. How could Marin even begin to keep up with those other counties? Give me some per capita statistics, and then we'll talk about the lack of wealthy people in Marin.

Mar 30, 2006, 5:06:00 PM  
Blogger Bubble-X said...

Well, well, neither did any of the counties that make up NYC..

Interesting

Mar 30, 2006, 5:47:00 PM  
Anonymous Anonymous said...

If you want to see how Marin REALLY ranks as far as income goes check this:
http://tinyurl.com/d93zo

Mar 30, 2006, 6:12:00 PM  
Anonymous Anonymous said...

Yeah, Marin has a small-ish population (and does its damnedest to keep it that way - one of the issues discussed on this blog), so the total wealth here would be much less than LA County.

Mar 30, 2006, 6:21:00 PM  
Anonymous Anonymous said...

If you want to see how Marin REALLY ranks as far as income goes check this:
http://tinyurl.com/d93zo


Wow! I had no idea...I knew Marin had the highest income in the Bay Area...But didn't realize it is the highest in the entire U.S!!

Mar 30, 2006, 8:27:00 PM  
Anonymous Anonymous said...

>>Well, well, neither did any of the counties that make up NYC..

Look at #7 - Nassau County. It's the suburb where a lot of rich people who work in NYC live.

Interestingly enough, even though Nassau County is above Santa Clara in terms of millionaires, median home prices are drastically lower than in Santa Clara.

Mar 30, 2006, 9:01:00 PM  
Anonymous Anonymous said...

Here's a USA Today that ranks Wyoming as the wealthiest:

http://tinyurl.com/5oqwa

Mar 30, 2006, 9:25:00 PM  
Anonymous astrid said...

Honestly, that survey's method is even more absurd Newsweek's method for grading high schools.

Don't feel bad. Marin County is still the richest per capita.

Mar 30, 2006, 11:28:00 PM  
Blogger fredtobik said...

Posts like this further supports my consipracy theory that "marinite" is a collaborative effort.

Mar 31, 2006, 8:40:00 AM  
Blogger Marinite said...

fred,

Give it a rest already. I assure you I am one person.

It was a bad post, I admit it. I am pressed for time these days yet feel I should post something and well...

Mar 31, 2006, 9:22:00 AM  
Blogger Marinite said...

...And even if I wasn't one person, what the heck does it matter to you? Why would anyone care? At least I am not like other blogs that always refer to themselves with the Imperial "we" when in fact there is just one person (e.g., The Mess Greenspan Blog is a case in point).

Mar 31, 2006, 9:28:00 AM  
Blogger marin_explorer said...

Despite the stats, and a few large homes sprinkled amongst communities, does Marin really feel like the "lap of luxury", a 'millionaire mecca' to anyone here? Perhaps if you're ueber-wealthy, Marin's somewhat aquatic/rustic nature must fit well into your lifestyle. Otherwise, I suspect some social climbers will be acutely conscious of more urbane wealth residing in SF--and continually compare themselves. This might explain some of the snobbery and noise about Marin RE. If your town doesn't actually look wealthy, you might need to talk it up.

I moved to Marin because I like the rustic/low key appearance of the place, so I chuckle at how often people cite the money or "prime" property here.

Mar 31, 2006, 10:29:00 AM  
Anonymous Anonymous said...

Yes, much of Marin is pretty dumpy. There are nice pockets but most of Marin is nothing special IMO.

And you have to wonder about people's desire to talk it up. I chalk that up to cognitive dissonance and self-justification. I mean, you spend a small fortune for a total piece of crap house, what else are you going to say?

I think the real reason for why Marin commands a 20% premium or so is what some Marin RE bull said a long time ago on this blog... it's relatively nicer than other areas surrounding SFO.

So Marin's motto should be "It's not as bad here".

Mar 31, 2006, 10:40:00 AM  
Blogger marin_explorer said...

it's relatively nicer than other areas surrounding SFO.

Being a "white flight" area might be another factor.

Mar 31, 2006, 11:14:00 AM  
Anonymous Anonymous said...

I think the real reason for why Marin commands a 20% premium or so is what some Marin RE bull said a long time ago on this blog... it's relatively nicer than other areas surrounding SFO.

Parts of Marin (Terra Linda, Marinwood, Sleepy Hollow, Novato) don't look any different than Walnut Creek, or Burlingame, or any other postwar suburbs that were developed in the 50s and 60s. I guess people are just paying that premium for...um...actually I don't know why they are doing that. Umm...more yoga studios and meditation centers?

Mar 31, 2006, 12:10:00 PM  
Anonymous Anonymous said...

This blog is as bad as any of the RE rah-rah sites. Using stats to say whatever fits your agenda. Not too much good objectivity around here. I'll be deleting it off my watch list. adios.

Mar 31, 2006, 12:20:00 PM  
Blogger marin_explorer said...

Not too much good objectivity around here.

On the contrary, I'm impressed by the amount of data this blog provides, especially for a small county like Marin. What can be more objective than providing raw listing/sales/inventory data? Of course, people are free to draw their own conclusions, and this blog may run against that grain.

Mar 31, 2006, 12:34:00 PM  
Anonymous Anonymous said...

I must say, this blog is entertaining on many levels, one of which is the "unintentional humor" variety, and this one takes the cake. To try to make the argument that Marin is not a wealthy county because its $1million households doesn't compare in absolute numbers to places like Los Angeles County is genius! Well done, once again!

Mar 31, 2006, 1:44:00 PM  
Blogger Marinite said...

To try to make the argument that Marin is not a wealthy county

I wasn't making that argument at all. I just pointed out that it didn't make the list according to that survey.

And then of course I couldn't pass up the opportunity to poke fun at Marin's arrogance and hubris.

Mar 31, 2006, 1:51:00 PM  
Anonymous white_flite said...

Undoubtedly, the white flight is part or a substancial part of the premium pricing of marin.

This isn't mentioned by the liberals who love diversity as long as it is white. Another example of marin's actions speaking louder than words.

Mar 31, 2006, 3:41:00 PM  
Anonymous Anonymous said...

This isn't mentioned by the liberals who love diversity as long as it is white. Another example of marin's actions speaking louder than words.

And here come the predictable knee-jerk liberal-bashing. Voting for Democrats does not necessarily make one a "liberal." Not much about Marin or the way it is run is liberal in any way. If conservatism is defined as "resistance to change" and "desiring to maintain the status quo," then Marin County is one of the most conservative places in the country.

Mar 31, 2006, 6:37:00 PM  
Anonymous astrid said...

Amen to that. So called conservatives (often bigots or reactionaries in disguise) have trained themselves to auto-blame faceless liberals for every social ill.

And of course, if you don't agree with them, you must be a liberal and therefore not worth listening to.

That's a self contained echo chamber if there ever was one.

Apr 1, 2006, 11:34:00 AM  
Blogger fredtobik said...

"Parts of Marin (Terra Linda, Marinwood, Sleepy Hollow, Novato) don't look any different than Walnut Creek, or Burlingame, or any other postwar suburbs that were developed in the 50s and 60s. I guess people are just paying that premium for...um...actually I don't know why they are doing that. Umm...more yoga studios and meditation centers? "

Are you saying Walnut Creek and Burlingame have cheaper housing? I hope not because a quick search for Burlingame had 0 SFH under 1 million, and Walnut Creek wasn't that much cheaper.

Apr 1, 2006, 1:55:00 PM  

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