Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Bethesda and Chevy Chase were mostly farmland during most of the 19th Century and didn't really start developing until after WWII. Up until the 70s or so, it was probably more White middle class--civil servants, hospital workers, etc. The affluence in that region is a new phenomenon with the rise of contractors, bigger law firms and corporate lobbying money in recent decades.
Greenwich CT is very "old money" type of wealth. Are Chevy Chase and North Bethesda the same? I genuinely don't know.
Chevy and Bethesda are a mix. Bethesda is more new money though while chevy Chase has more old money residents. I wouldn't use Bethesda to compare to greenwich because they're nothing alike besides the fact that they're affluent.
I used Potomac and Fairfield earlier because they're both villages and both affluent horse towns. Also same ethnic demographics too.
Bethesda and Chevy Chase were mostly farmland during most of the 19th Century and didn't really start developing until after WWII. Up until the 70s or so, it was probably more White middle class--civil servants, hospital workers, etc. The affluence in that region is a new phenomenon with the rise of contractors, bigger law firms and corporate lobbying money in recent decades.
Yes you're right, there actually is an old money part of Chevy Chase though but that was near/inside Washington DC.
UT and Texas A&M make the Top 10 presumably due to oil money (and size). Stanford obviously makes the Top 5 because of Silicon Valley. The rest of the Top 10 are located in the old money areas mentioned in the Wiki article.
Surprisingly, Richmond has a HUGE endowment for a school its size, but it's not that selective a school. I wonder what's going on there. Johns Hopkins comes in at a respectable 26th, but no other schools in Maryland (or DC) make the list. That's probably a consequence of not having a Carnegie or Rockefeller (or Woodruff in Emory's case) who can singlehandedly bankroll a school. Lawyers and lobbyists can't write $100 million checks.
Princeton has nasty, stinky, filfthy, ridiculously disgusting money. Their endowment is nearly as large as Stanford's with half the students. New England liberal arts schools, as well as a few in New York and Pennsylvania, are sitting on some fat cheese too.
Last edited by BajanYankee; 04-08-2015 at 05:24 PM..
Greenwich CT is very "old money" type of wealth. Are Chevy Chase and North Bethesda the same? I genuinely don't know.
Yes they are. There are some old school Jews, Russians, and WASPs as well as embassy and international org members with big money living in those two. Potomac is pretty old money also. Most of the stately architecture of the housing stock in that part of Montgomery County are pretty tell-tale of their presence.
Potomac isn't really "old money" either. It started developing around the same time as Buckhead, Atlanta (circa 1920s/30s).
I suppose there are two definitions of "old money" in the U.S. One is for industrialists like the Rockefellers who accumulated their wealth during the late 19th Century. These people were considered "new money" at the time and were basically the 19th Century equivalent of Silicon Valley billionaires. Then you have older families who can trace wealth back to colonial times, though it's not Vanderbilt-type wealth. Chevy Chase falls into that category.
Quote:
Chase is a fourteenth-generation New Yorker, and was listed in the Social Register at an early age. His mother's ancestors arrived in Manhattan starting in 1624; among his ancestors are New York City mayors Stephanus Van Cortlandt and John Johnstone; the Schuyler family through his ancestor Gertrude Schuyler, the wife of Stephanus Van Cortlandt; John Morin Scott, General of the New York Militia during the American Revolution; Anne Hutchington, dissident Puritan preacher and healer; and Mayflower passengers and signers of the Mayflower Compact, John Howland, and the Pilgrim colonist leader and spiritual elder of the Plymouth Colony, William Brewster.
As a child, Chase vacationed at Castle Hill, the Cranes' summer estate in Ipswich, Massachusetts. Chase's parents divorced when he was four; his father remarried into the Folgers coffee family, and his mother remarried twice. He has stated that he grew up in an upper middle class environment and that his adoptive maternal grandfather did not bequeath any assets to Chase's mother when he died.
This raises an interesting question: how much does the average person's experience and lifestyle vary from place to place based on median HHI? Clearly, impoverished areas can be very different, but most of the U.S. isn't impoverished. For the average person living in Gwinnett County, GA, what cultural difference do they see in their lives by not having the median HHI of Stafford, VA?
Less conspicuous consumption (expensive cars are the easiest to see). Fairly obvious after not living on Long Island, especially when visiting the wealthier sections.
Less conspicuous consumption (expensive cars are the easiest to see). Fairly obvious after not living on Long Island, especially when visiting the wealthier sections.
I'm not even sure if that's correlated with income. Some of the brokest people are the ones driving the most expensive cars. It's called leasing.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Okay.
