Most Eligible Dallas (Fort Worth, Donna, Highland Park: leases, credit card, attorney)

[TurtleCreek80]

Originally Posted by 80SC

I'd surmise that the vast majority of people under 30 in Uptown don't have real money (they don't earn a six figure income), made worse by a propensity to spend like they do. It's part of the reason why Dallas has some of the lowest credit scores in the nation and also why I won't move back to Dallas until my experience can command a six figure income (I'm 25 now).

The majority don't make 6-figures, but a critical mass DOES. About 1/3 of the tax returns in 75204 (main Uptown zip code) are over $100k AGI. 8% (700) were in the highest tax bracket with an average AGI of $800k. And that's just one zip code- not including the surrounding in-town neighborhoods (M Streets, Knox-Henderson, Oak Lawn) where young professionals live, too.

It's not hard to throw a rock in an Uptown bar & hit a high earner:
-there are around 1,000+ "young attorneys" (25-30) making $130-250k+ in the big law firms downtown/uptown. And there are quite a few single 30-somethings who are partners making much,much more than that running around too!
-tons of finance (private equity, hedge fund, vc) jobs in Uptown. Probably a couple hundred of those young single guys (mostly) live in Uptown.
-another thousand or two make high incomes in consulting (Bain, McKinsey, etc all have major Dallas offices), sales, medicine, working for the "family"'business, oil & energy, etc.

I'd be willing to bet that every guy except two that I went out with (dates & relationships) while single in Dallas made at least $150k- some were "flashier" than others (brand new Audi coupe vs 10 year old E Class), modest home in Devonshire (still expensive but not flashy) vs party-central Uptown apartment with skyline views. Well over half had gone to grad school. Most were involved in one or more philanthropic groups in Dallas (Lee Park, DMA Junior Associates, Ronald McDonald, etc) or the social groups (Idlewild, Calyx, Dervish). About half were not from Dallas originally.

Not everyone driving an E Class in Uptown is 1) leasing it, 2) months behind in payments, or 3) living beyond their means.

[GreyDay]

Originally Posted by TurtleCreek80

The majority don't make 6-figures, but a critical mass DOES. About 1/3 of the tax returns in 75204 (main Uptown zip code) are over $100k AGI. 8% (700) were in the highest tax bracket with an average AGI of $800k. And that's just one zip code- not including the surrounding in-town neighborhoods (M Streets, Knox-Henderson, Oak Lawn) where young professionals live, too.

It's not hard to throw a rock in an Uptown bar & hit a high earner:
-there are around 1,000+ "young attorneys" (25-30) making $130-250k+ in the big law firms downtown/uptown. And there are quite a few single 30-somethings who are partners making much,much more than that running around too!
-tons of finance (private equity, hedge fund, vc) jobs in Uptown. Probably a couple hundred of those young single guys (mostly) live in Uptown.
-another thousand or two make high incomes in consulting (Bain, McKinsey, etc all have major Dallas offices), sales, medicine, working for the "family"'business, oil & energy, etc.

I'd be willing to bet that every guy except two that I went out with (dates & relationships) while single in Dallas made at least $150k- some were "flashier" than others (brand new Audi coupe vs 10 year old E Class), modest home in Devonshire (still expensive but not flashy) vs party-central Uptown apartment with skyline views. Well over half had gone to grad school. Most were involved in one or more philanthropic groups in Dallas (Lee Park, DMA Junior Associates, Ronald McDonald, etc) or the social groups (Idlewild, Calyx, Dervish). About half were not from Dallas originally.

Not everyone driving an E Class in Uptown is 1) leasing it, 2) months behind in payments, or 3) living beyond their means.

First. Old guy on the show rocking the 996 Bodystyle 911 (2005 at best). Not a baller move.

Besides the crew that loves the Uptown Starter kit; C-class Mercedes, place at the Gables, streetside table at Mi Cocina...there's a 'critical mass' of folks in their late 20's to eraly 30's waiting to make the next move. There is still a great deal of money in the area. It just gets drowned out by the kids.

[80SC]

ganongrey:

Do you have a score to settle with the C-class? Not everyone goes for the base model with no options that predominate most dealership lots. The 2012 C250 Sport I ordered with Premium package, lighting package, and real leather is quite a nice car indeed.

I'm sure some will see me driving and think I was just trying to get into a Mercedes at the cheapest price possible, but it's just not true.

[GreyDay]

Originally Posted by 80SC

ganongrey:

Do you have a score to settle with the C-class? Not everyone goes for the base model with no options that predominate most dealership lots. The 2012 C250 Sport I ordered with Premium package, lighting package, and real leather is quite a nice car indeed.

I'm sure some will see me driving and think I was just trying to get into a Mercedes at the cheapest price possible, but it's just not true.

I have nothing against the C-class. If it's a C63 AMG especially. It however is sponsored by the 'it' crowd of West Village.

I do have a problem with people in the village acting like it's a MayBach or S65 or new CLS63 Bi-turbo.

I drive a 'new to me' 6 year old AMG sedan that cost less than half the price of a new C-class. I'm not crashing on the car, it's the guys that think it's THE car.

This is Dallas, a Merc, Porsche or BMW is simply filler. Bentleys run rampant. Rolls Royce convertibles with suicide doors are not valet parked in HPV. Ferraris and Lambos might get a bit of attention. So the guy flossing the C-class shouldn't expect the valet to park it up front at ZaZa.

But like Canadians, Labatt's beer, Ohio the state and the State University, I like making fun of the C-class.

I will change to a 328 BMW for my new car to crash on.

[UrbanAdventurer]

Originally Posted by 80SC

ganongrey:

Do you have a score to settle with the C-class? Not everyone goes for the base model with no options that predominate most dealership lots. The 2012 C250 Sport I ordered with Premium package, lighting package, and real leather is quite a nice car indeed.

I'm sure some will see me driving and think I was just trying to get into a Mercedes at the cheapest price possible, but it's just not true.

I like the C-Class too when properly config'ed FWIW. Far better looking car than the other players in that segment.

Trying to impress people with your car is stupid though. That doesn't work unless you can get into the Ferrari/Lamborghini/Aston Martin price brackets.

[Wolfpacker]

Originally Posted by TurtleCreek80

The majority don't make 6-figures, but a critical mass DOES. About 1/3 of the tax returns in 75204 (main Uptown zip code) are over $100k AGI. 8% (700) were in the highest tax bracket with an average AGI of $800k. And that's just one zip code- not including the surrounding in-town neighborhoods (M Streets, Knox-Henderson, Oak Lawn) where young professionals live, too.

It's not hard to throw a rock in an Uptown bar & hit a high earner:
-there are around 1,000+ "young attorneys" (25-30) making $130-250k+ in the big law firms downtown/uptown. And there are quite a few single 30-somethings who are partners making much,much more than that running around too!
-tons of finance (private equity, hedge fund, vc) jobs in Uptown. Probably a couple hundred of those young single guys (mostly) live in Uptown.
-another thousand or two make high incomes in consulting (Bain, McKinsey, etc all have major Dallas offices), sales, medicine, working for the "family"'business, oil & energy, etc.

I'd be willing to bet that every guy except two that I went out with (dates & relationships) while single in Dallas made at least $150k- some were "flashier" than others (brand new Audi coupe vs 10 year old E Class), modest home in Devonshire (still expensive but not flashy) vs party-central Uptown apartment with skyline views. Well over half had gone to grad school. Most were involved in one or more philanthropic groups in Dallas (Lee Park, DMA Junior Associates, Ronald McDonald, etc) or the social groups (Idlewild, Calyx, Dervish). About half were not from Dallas originally.

Not everyone driving an E Class in Uptown is 1) leasing it, 2) months behind in payments, or 3) living beyond their means.

Interesting. Are these states before the economy took a nosedive?

[SVTRay]

Originally Posted by UrbanAdventurer

Trying to impress people with your car is stupid though.

This the best sentence I've read.

We drive what we like, not what others like and we can afford a lot...and I'm talking payoff and not financing. I drive a Ford truck, hey, if it was good enough for Sam Walton, it's good enough for me Although I admit, I splurged a little and ordered the SVT package The wife drives a Buick and a Tahoe before that. Their practical and great on road trips. I honestly can not count the people I know who can afford literally anything but yet drive typical GM and Ford vehicles. My father in law for example, he bought his wife a 500 Mercedes and a Rolls Royce. What does he drive, a Tahoe and an 4X4 F150 he picked up used for the ranch.

[Lakewooder]

The Ford F-150 Pickup is the most popular vehicle of "The Millionaire Next Door".

[SVTRay]

Originally Posted by Lakewooder

The Ford F-150 Pickup is the most popular vehicle of "The Millionaire Next Door".

Good book, I know a lot of people who resemble those people mentioned in the book.

[TurtleCreek80]

Originally Posted by Wolfpacker

Interesting. Are these states before the economy took a nosedive?

They were from the 2009 tax returns.

Most young professionals I know in the Uptown crowd who were laid off (mostly real estate attorneys and finance guys) in late 2008/early 2009 were employed again within 6 months or so. I don't know anyone who has been "long term unemployed"- mostly because this demographic are 100% college graduates (4% unemployment vs 8% overall) and probably 50-60% grad school graduates (even lower than 4% u/e).