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Old 10-24-2009, 09:16 PM
 
Location: Germantown, MD
1,342 posts, read 2,111,490 times
Reputation: 520
Quote:
Originally Posted by tech2enable View Post
High income counties do not equate to being wealthy, and yes nearly 1 out of every 5 employees in certain regions work for the government which in turn supports other jobs, of course the wealth that does exist comes from contractors, lobbyists and the well connected predominately.
Um, actually it does. High Income->->->Wealth. Unless, you're talking about relative wealth factoring in purchasing power and cost of living, but even then the DC Area is still very wealthy.

 
Old 10-24-2009, 09:20 PM
 
Location: Rockville, MD
3,548 posts, read 4,672,755 times
Reputation: 1273
Quote:
Originally Posted by tech2enable View Post
High income counties do not equate to being wealthy
Yes they do. That isn't even remotely debatable.

Just admit when you're wrong and move on.
 
Old 10-25-2009, 03:07 AM
 
656 posts, read 854,407 times
Reputation: 76
Quote:
Originally Posted by cpterp View Post
Um, actually it does. High Income->->->Wealth. Unless, you're talking about relative wealth factoring in purchasing power and cost of living, but even then the DC Area is still very wealthy.

No its not, and and the poster was using median household income which can be skewed in circumstances such as this, for example several roomates could be counted as one household for income purposes, likewise couples who a married in other parts of the country.
 
Old 10-25-2009, 06:29 PM
 
Location: Germantown, MD
1,342 posts, read 2,111,490 times
Reputation: 520
Quote:
Originally Posted by tech2enable View Post
No its not, and and the poster was using median household income which can be skewed in circumstances such as this, for example several roomates could be counted as one household for income purposes, likewise couples who a married in other parts of the country.
Well, the median household income is actually the single best statistic when comparing wealth. Those anomalies you mention have very little impact on actual data. Per capita income on the other hand is a very weak measure of wealth as it is very easily skewed, and is really only used in the form of per capita GDP when making comparisons across countries.

Example 10 people in a town: 2 make $30K a year, 3 make 50K a year, 4 make 70K a year, and 1 makes $1m a year.

Per capita income: $149K
Median Income: $60K
 
Old 10-26-2009, 04:46 AM
 
656 posts, read 854,407 times
Reputation: 76
Quote:
Originally Posted by cpterp View Post
Well, the median household income is actually the single best statistic when comparing wealth. Those anomalies you mention have very little impact on actual data. Per capita income on the other hand is a very weak measure of wealth as it is very easily skewed, and is really only used in the form of per capita GDP when making comparisons across countries.

Example 10 people in a town: 2 make $30K a year, 3 make 50K a year, 4 make 70K a year, and 1 makes $1m a year.

Per capita income: $149K
Median Income: $60K
Nope, a college town such as college station for example was ranked the poorest town because of many college students living together and making $5-10 /hour jobs.

This distorts the figure, I agree per capita isn't always the best and neither is average but sometimes those figures can be very helpful if median can't be used.

In the case about roommates the figures can be distorted towards the high end if several roommates are making a lot of money combined to keep up with the housing costs.

It may seem skeptical at first, but I've looked at the salaries of various professional jobs, not just one or two or three, but several of them and the pay is far lower than in counties which have less median income and perhaps slightly higher housing costs.

I made the point that defense contractors and lobbyists may drive up the COL regardless of the other factors in D.C., but that won't really explain the median, however a professional and technical job that makes 70k and doesn't pay a lot for the work, responsibility , level of expertise, and housing costs with a couple may also skew it.

Please also be advised that many workers in D.C. area are on temp or contracting pay and the previous poster admits that the area is very transient.
 
Old 10-26-2009, 08:06 AM
 
Location: Germantown, MD
1,342 posts, read 2,111,490 times
Reputation: 520
Quote:
Originally Posted by tech2enable View Post
Nope, a college town such as college station for example was ranked the poorest town because of many college students living together and making $5-10 /hour jobs.

This distorts the figure, I agree per capita isn't always the best and neither is average but sometimes those figures can be very helpful if median can't be used.

In the case about roommates the figures can be distorted towards the high end if several roommates are making a lot of money combined to keep up with the housing costs.

It may seem skeptical at first, but I've looked at the salaries of various professional jobs, not just one or two or three, but several of them and the pay is far lower than in counties which have less median income and perhaps slightly higher housing costs.

I made the point that defense contractors and lobbyists may drive up the COL regardless of the other factors in D.C., but that won't really explain the median, however a professional and technical job that makes 70k and doesn't pay a lot for the work, responsibility , level of expertise, and housing costs with a couple may also skew it.

Please also be advised that many workers in D.C. area are on temp or contracting pay and the previous poster admits that the area is very transient.
I'm not sure if I understand all of your post. Anyway, as I said before the roomate thing is negligible especially since we're comparing counties. Also, college students are indeed poor (here meaning they have relatively low purchasing power) and I don't find the data on College Station misleading.

I really doubt that most professionals in the area get lower incomes than other areas with significantaly lower costs-of-living and median incomes. You can post the data if you want though. Whether the area is transient or not has no bearing on whether it is wealthy or not.
 
Old 10-26-2009, 08:22 AM
 
Location: Rockville, MD
3,548 posts, read 4,672,755 times
Reputation: 1273
Quote:
Originally Posted by tech2enable View Post
Nope, a college town such as college station

...

Please also be advised that many workers in D.C. area are on temp or contracting pay and the previous poster admits that the area is very transient.
This is one of the most incoherent posts I've seen on here. Roomates...college students...temp workers...contractors...transiency...responsibilit y(?)...you're just throwing a bunch of stuff at a wall with no coherent rhyme or reason.

Highest median incomes mean just that: people in those areas are, generally speaking, very well off. All of your other stuff is just noise, because for whatever reason you can't admit when you're wrong on something.
 
Old 10-26-2009, 10:42 AM
 
816 posts, read 837,551 times
Reputation: 919
At what point will gentrification in Washington, DC end?

1. Slash federal government spending on contracts (Defense, Homeland Security and Biotechnology) and RIF tons of federal government employees.

2. Tighten lobbying rules by so much that the legal/lobby shops will be hurting financially. Lots of unemployed counselors as a result. Pity.

3. Congress goes super liberal and decides to pursue every policy that destroys corporate profits. Sorry...no more money for the DC law firms. Young aspiring legal Eagles cross off DC from the relocation list. Take that back, smart law grads will work in public service and non-profits(GASP!) because private-sector law will be decimated. Boom times for the DOJ though.

4. The World Bank and IMF bolt from DC. There have been rumors circulating that the Bretton Woods institutions are looking at real estate in NYC.

5. A weapon of mass destruction is unleashed in downtown DC. Yeah, this will kinda reduce property values within a 10 mile radius of the city. Not to mention killing as many as 500,000 people.

The odds of 1 through 4 happening...let's say I have a better shot at hooking up with Megan Fox over many beers. Reason 5 is a scary possibility but we can't live like Chicken Little.
 
Old 10-26-2009, 06:08 PM
 
Location: Germantown, MD
1,342 posts, read 2,111,490 times
Reputation: 520
Quote:
Originally Posted by coldbliss View Post
At what point will gentrification in Washington, DC end?

1. Slash federal government spending on contracts (Defense, Homeland Security and Biotechnology) and RIF tons of federal government employees.

2. Tighten lobbying rules by so much that the legal/lobby shops will be hurting financially. Lots of unemployed counselors as a result. Pity.

3. Congress goes super liberal and decides to pursue every policy that destroys corporate profits. Sorry...no more money for the DC law firms. Young aspiring legal Eagles cross off DC from the relocation list. Take that back, smart law grads will work in public service and non-profits(GASP!) because private-sector law will be decimated. Boom times for the DOJ though.

4. The World Bank and IMF bolt from DC. There have been rumors circulating that the Bretton Woods institutions are looking at real estate in NYC.

5. A weapon of mass destruction is unleashed in downtown DC. Yeah, this will kinda reduce property values within a 10 mile radius of the city. Not to mention killing as many as 500,000 people.

The odds of 1 through 4 happening...let's say I have a better shot at hooking up with Megan Fox over many beers. Reason 5 is a scary possibility but we can't live like Chicken Little.
Pretty well summed up.
 
Old 10-26-2009, 07:07 PM
 
Location: Washington DC
5,913 posts, read 4,767,414 times
Reputation: 914
Quote:
Originally Posted by coldbliss View Post
At what point will gentrification in Washington, DC end?

1. Slash federal government spending on contracts (Defense, Homeland Security and Biotechnology) and RIF tons of federal government employees.

2. Tighten lobbying rules by so much that the legal/lobby shops will be hurting financially. Lots of unemployed counselors as a result. Pity.

3. Congress goes super liberal and decides to pursue every policy that destroys corporate profits. Sorry...no more money for the DC law firms. Young aspiring legal Eagles cross off DC from the relocation list. Take that back, smart law grads will work in public service and non-profits(GASP!) because private-sector law will be decimated. Boom times for the DOJ though.

4. The World Bank and IMF bolt from DC. There have been rumors circulating that the Bretton Woods institutions are looking at real estate in NYC.

5. A weapon of mass destruction is unleashed in downtown DC. Yeah, this will kinda reduce property values within a 10 mile radius of the city. Not to mention killing as many as 500,000 people.

The odds of 1 through 4 happening...let's say I have a better shot at hooking up with Megan Fox over many beers. Reason 5 is a scary possibility but we can't live like Chicken Little.
Looks like we are totally safe. None of the above will happen.

The worst thing for us and the country is another frigging republican in office.
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