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Old 03-29-2015, 01:17 PM
 
Location: The Triad (NC)
31,376 posts, read 69,780,396 times
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Quote:
Originally Posted by dogpark View Post
City schools are improving slowly but have a long way to go.
Said above, city schools (at least in the gentrifying neighborhoods) are improving.
uh huh.

Quote:
Folks "displaced" by this gentrification are... the first wave.
...poor blacks are not being gentrified out of Baltimore.
yet; or to any large degree. yet.

Last edited by MrRational; 03-29-2015 at 01:37 PM..
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Old 03-29-2015, 04:45 PM
 
2,484 posts, read 2,009,115 times
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Not sure why folks think that they can detect 'old money' with average or median income levels over a large geographic areaa. My idea of 'old money' is vast amounts of wealth in non-liquid assets that won't necessarily be captured by income. But even if the income measures cited could proxy for wealth, the rarity of people accumulating such vast amounts of wealth would render detecting their presence through income averages (and especially median values) over large geographic areas nearly impossible.
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Old 03-29-2015, 04:48 PM
 
Location: Baltimore
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I can tell you from personal experience where the money in Baltimore is not.
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Old 03-29-2015, 06:17 PM
 
847 posts, read 911,379 times
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Quote:
Originally Posted by picardlx View Post
Not sure why folks think that they can detect 'old money' with average or median income levels over a large geographic areaa. My idea of 'old money' is vast amounts of wealth in non-liquid assets that won't necessarily be captured by income. But even if the income measures cited could proxy for wealth, the rarity of people accumulating such vast amounts of wealth would render detecting their presence through income averages (and especially median values) over large geographic areas nearly impossible.
Old money would be people like

DuPont Family
Rockefeller Family
Forbes family

Most of these are NY or Boston. Baltimore doesn't really have "old money". Neither PG. Rich blacks in PG that have obtained high wealth probably obtained this by very high professional positions (CEO, Lawyer, Business owners). But that is not old money. Old money follows heir.

These are families who established their fortunes in the early to mid 1800's. Their wealth is so substantial that all Hell would have to freeze over before they became poor.
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Old 03-29-2015, 07:07 PM
 
Location: Baltimore
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You can't go by family name to decipher who is and who isn't "old money." In fact, most of the family fortunes from those famous family's have dwindled down to nothing over the past few decades. I usually think of old money as "quiet money." When I think of "old money" I usually think of places near Ruxton and in the horse country of Baltimore Co. No one ever talks about those areas as being the wealthy parts of Maryland because they are kept quiet and homes that go on sale are typically sold only via private listings.

The Greenspring Valley area was once considered "old money" as well, but I think that is no longer the case.
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Old 03-29-2015, 07:30 PM
 
847 posts, read 911,379 times
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Quote:
Originally Posted by santafe400 View Post
You can't go by family name to decipher who is and who isn't "old money." In fact, most of the family fortunes from those famous family's have dwindled down to nothing over the past few decades. I usually think of old money as "quiet money." When I think of "old money" I usually think of places near Ruxton and in the horse country of Baltimore Co. No one ever talks about those areas as being the wealthy parts of Maryland because they are kept quiet and homes that go on sale are typically sold only via private listings.

The Greenspring Valley area was once considered "old money" as well, but I think that is no longer the case.
These are historical examples of "Old Money".

Are you serious. The original Dupont amass a fortune that is passed on from family to family. If you are a Dupont you are a "line item" on this company annual budget.

There are "rich" and successful people in Baltimore, but no "old money".
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Old 03-30-2015, 01:12 AM
 
1,161 posts, read 2,133,522 times
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Still wrong.

You'd be surprised.

"Old money" whether WASP or Jewish, exists. Baltimore, like most American cities, doesn't flash its wealth the way New York or California does.

Just to name a few families I'm aware of who have long roots in Baltimore and who possess serious wealth:

The Griswolds (of Alex Brown fame, they received over 300 million when the firm was sold in the early 1990s, and in those days 300MM was serious change). They've been very prudent with their fortune and it's easily double that now.

Meyerhoffs, of the Meyerhoff Symphony fame. Easily a few hundred million. Very generous donors.

The Manekins (real estate family, several generations old). They own quite a few office parks as well as downtown office buildings. Generous donors.

The old Crown Petroleum family is still alive and kicking.

And there's more families. They just don't advertise. Then we have hundreds of families with "old" family fortunes in the few dozen millions and usually tied up in trusts. Legg Mason and T. Rowe Price could tell you a few things about these families, but they won't, of course.

Besides, what makes you such an authority on old money in Baltimore, given how ignorant you are about everything else related to Baltimore? Baltimore, believe it or not, was known for its "old money" genteel class. Certain neighborhoods, the prep school culture, certain financial institutions and cultural institutions are all testaments to this particular group of people.

Quote:
Originally Posted by steppinthrax View Post
These are historical examples of "Old Money".

Are you serious. The original Dupont amass a fortune that is passed on from family to family. If you are a Dupont you are a "line item" on this company annual budget.

There are "rich" and successful people in Baltimore, but no "old money".
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Old 03-30-2015, 07:37 AM
 
5,289 posts, read 6,108,410 times
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" Baltimore doesn't really have "old money".

*They may not have those hardcore, northeast blue blood uber-wealthy families, Baltimore has old Maryland money that is connected to other real old money families. Come on now?! Are you that gullible? Read some of Baltimore's history.




Quote:
Originally Posted by steppinthrax View Post
Old money would be people like

DuPont Family
Rockefeller Family
Forbes family

Most of these are NY or Boston. Baltimore doesn't really have "old money". Neither PG. Rich blacks in PG that have obtained high wealth probably obtained this by very high professional positions (CEO, Lawyer, Business owners). But that is not old money. Old money follows heir.

These are families who established their fortunes in the early to mid 1800's. Their wealth is so substantial that all Hell would have to freeze over before they became poor.
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Old 03-30-2015, 10:39 AM
 
1,161 posts, read 2,133,522 times
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Forgot to add this earlier.

One of the Rockefellers (direct male descendant of the famous John D, bearing the same name but with Roman numerals afterwards) lives in Baltimore City with his family.

A branch of the Frick family (of the Henry Clay Frick fame, who founded the Frick Collection in New York, which Steppinthrax probably hasn't heard of but it has possibly the most spectacular collection of Old Masters in the country) lives in Baltimore County.

And there are DuPonts in Baltimore County as well.
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Old 03-30-2015, 11:14 AM
 
2,991 posts, read 3,794,676 times
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At one time there were Bonapartes in Baltimore and Baltimore County, directly related to Napoleon. One was the first president of the Maryland Club, before the Civil War. I don't know whether the line and money survive . . .
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