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I've thought the same. But it's not really a flashy city is it?
This is true. The reason DC has the most educated population in the entire country and the highest median income is that more people are educated and successful in DC on average than any place in the entire United States. People buy homes, stocks, bonds, travel etc. That doesn’t mean people aren’t doing that in other cities, but the educational attainment of the population in DC doesn’t allow many to investment in depreciating assets. Those that have money to burn in the DC area take advantage of that, but people in DC are more likely to make smart decisions with their money when depreciating assets are concerned.
This really helps the Black population be successful in DC compared to their counterparts in other cities that waste their money on things that don’t build generational wealth trying to be flashy. Atlanta comes to mind for that. If you have the money to buy these things, that’s great. Unfortunately, many people in these cities don’t have the money and they buy them anyways. Education and wisdom probably factors into those decisions too.
This is true. The reason DC has the most educated population in the entire country and the highest median income is that more people are educated and successful in DC on average than any place in the entire United States. People buy homes, stocks, bonds, travel etc. That doesn’t mean people aren’t doing that in other cities, but the educational attainment of the population in DC doesn’t allow many to investment in depreciating assets. Those that have money to burn in the DC area take advantage of that, but people in DC are more likely to make smart decisions with their money when depreciating assets are concerned.
This really helps the Black population be successful in DC compared to their counterparts in other cities that waste their money on things that don’t build generational wealth trying to be flashy. Atlanta comes to mind for that. If you have the money to buy these things, that’s great. Unfortunately, many people in these cities don’t have the money and they buy them anyways. Education and wisdom probably factors into those decisions too.
Depreciating assets? There’s a lot of items here that are double/triple/quadruple in value. Those long lines at the Louis Vuitton stores during release dates aren’t for nothing.
Depreciating assets? There’s a lot of items here that are double/triple/quadruple in value. Those long lines at the Louis Vuitton stores during release dates aren’t for nothing.
Clothing and hand bags are depreciating assets most times. Yes, if there are only a few made, then something unique can be worth more when it has high demand. At that point, it’s a collectors item. That’s not the case for most things at all these stores you’re listing. Unlike real estate, they don’t gain value overtime. They are depreciating assets.
By the way, Giorgio Armani is coming to City Center DC along with the new Chanel Store that opens this week. That puts DC at 34 and counting with a few more City Center DC stores left to be announced.
Last edited by MDAllstar; 07-13-2021 at 01:35 PM..
Being totally honest places like ATL SF BOS Chicago are much different in this regard than a place like Baltimore Denver or Pittsburgh, there is a big gap in between how people dress to go out, access/location of quality retail, variety of retail, and prices of clothes. It's definitely worth note. Its not "everything else".
Never mind the difference in fine dining outlets.
Also true. The smaller the city / region, generally the more casual things are. However, there are certainly big city exceptions.
Quote:
Originally Posted by MDAllstar
This is true. The reason DC has the most educated population in the entire country and the highest median income is that more people are educated and successful in DC on average than any place in the entire United States. People buy homes, stocks, bonds, travel etc. That doesn’t mean people aren’t doing that in other cities, but the educational attainment of the population in DC doesn’t allow many to investment in depreciating assets. Those that have money to burn in the DC area take advantage of that, but people in DC are more likely to make smart decisions with their money when depreciating assets are concerned.
This really helps the Black population be successful in DC compared to their counterparts in other cities that waste their money on things that don’t build generational wealth trying to be flashy. Atlanta comes to mind for that. If you have the money to buy these things, that’s great. Unfortunately, many people in these cities don’t have the money and they buy them anyways. Education and wisdom probably factors into those decisions too.
That is not necessarily true and a generalization. The fashion focused populous in DC might just be more subdued with their choices, similar to Chicago or even Boston.
For example, I have a friend who is high on the sales team at Saks (works with the wealthiest clients). Some of the biggest clients are in Chicago, DC, and Philadelphia, however, many wear Akris, Loro Piana, Armani, etc. designers that specialize in subdued tones and patterns, but a simple blouse may still be $750.
I see much louder prints, patterns, label designs, etc. in the South, California, and New York. The wealthy in DC, Chicago, Boston, Philadelphia may just be less flashy (for whatever reasons). I don't think DC is some odd exception.
(P.S. I am well aware that flashiness may still exist in the above cities).
Clothing and hand bags are depreciating assets most times. Yes, if there are only a few made, then something unique can be worth more when it has high demand. At that point, it’s a collectors item. That’s not the case for most things at all these stores you’re listing. Unlike real estate, they don’t gain value overtime. They are depreciating assets.
By the way, Giorgio Armani is coming to City Center DC along with the new Chanel Store that opens this week. That puts DC at 34 and counting with a few more City Center DC stores left to be announced.
You can add Akris to the DC list too. Akris is coming to City Center DC.
This is true. The reason DC has the most educated population in the entire country and the highest median income is that more people are educated and successful in DC on average than any place in the entire United States. People buy homes, stocks, bonds, travel etc. That doesn’t mean people aren’t doing that in other cities, but the educational attainment of the population in DC doesn’t allow many to investment in depreciating assets. Those that have money to burn in the DC area take advantage of that, but people in DC are more likely to make smart decisions with their money when depreciating assets are concerned.
This really helps the Black population be successful in DC compared to their counterparts in other cities that waste their money on things that don’t build generational wealth trying to be flashy. Atlanta comes to mind for that. If you have the money to buy these things, that’s great. Unfortunately, many people in these cities don’t have the money and they buy them anyways. Education and wisdom probably factors into those decisions too.
People aren’t dumb for liking things. Going out to eat has a 0% return on investment. Are packed bars and restaurants a sign DC is full of dumb idiots?
Or is the point of money to exchange it for goods and services?
Also true. The smaller the city / region, generally the more casual things are. However, there are certainly big city exceptions.
That is not necessarily true and a generalization. The fashion focused populous in DC might just be more subdued with their choices, similar to Chicago or even Boston.
For example, I have a friend who is high on the sales team at Saks (works with the wealthiest clients). Some of the biggest clients are in Chicago, DC, and Philadelphia, however, many wear Akris, Loro Piana, Armani, etc. designers that specialize in subdued tones and patterns, but a simple blouse may still be $750.
I see much louder prints, patterns, label designs, etc. in the South, California, and New York. The wealthy in DC, Chicago, Boston, Philadelphia may just be less flashy (for whatever reasons). I don't think DC is some odd exception.
(P.S. I am well aware that flashiness may still exist in the above cities).
East coast cities (especially Boston and Philly) put a lot of effort into looking modest.
I think Legally blonde is a good sense of what that means. Like a nice sweater Harvard/Ivy look doesn’t scream “rich” to anyone who isn’t also rich. While the California style was very gaudy.
East coast cities (especially Boston and Philly) put a lot of effort into looking modest.
I think Legally blonde is a good sense of what that means. Like a nice sweater Harvard/Ivy look doesn’t scream “rich” to anyone who isn’t also rich. While the California style was very gaudy.
Great example, lol. Elle and Vivian were both rich, but represented very different wealthy American mentalities.
East coast cities (especially Boston and Philly) put a lot of effort into looking modest.
I think Legally blonde is a good sense of what that means. Like a nice sweater Harvard/Ivy look doesn’t scream “rich” to anyone who isn’t also rich. While the California style was very gaudy.
I think Boston and Philadelphia are honestly the two most stereotypically "old money" cities/metros in the US.
Certainly displays of wealth aren't exactly rare (and Boston might actually have a bit more flash in recent years due to a large influx of tech money), but the understated, "don't want to be defined by money and material" types of wealthy folks are definitely more likely to be found compared to the wealthy in many other places.
Rolex appears to be opening a new Houston store in River Oaks District. Not sure if the Galleria location will remain open.
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