Why Do Millionaires Like Los Angeles? (Rancho Santa Fe: place to live, dangerous, gangs)

[Hungry For Cheese]

Originally Posted by LongHornGuy86

Think about it. While the cost of living may be incredibly high, LA offers something no other city can--fame, badass weather, and incredible scenery. It's the perfect backdrop for people with money.

With this, however, comes a very high cost of living and other problems such as crime, gangs, etc.

I hear this all the time.
Fame? Who cares? Im not famous, dont want to be and can watch famous people elsewhere.
Bad ass weather? Yea weather is nice, except summer where it gets freakin hot in the valley. Weather is definetly pretty nice overall. Doesnt justify paying 4x the amount for property though
Scenery? When I look up I only see the same trees that are planted all over, buildings and sky. Not incredible like AZ or NM and other states.

It is great for people who are rich. Once I make my money I may return, but will probably travel the world and not stay in Cali.

[Yetti0]

Originally Posted by TheRealAngelion

LA County is home to more millionaires than any other county in the United States with a whopping 262,800 millionaire households! (and this does not include the value of one's primary residence)

http://money.cnn.com/2006/03/28/news.../millionaires/

If LA is as bad, dangerous, and gang infested as some people on this forum claim, why do the most financially successful and affuent in the land continue to call LA home?

Because its a big state, the movie industry has a lock of instant wealth by the most uneducated people... does not take brains to be an actor...and many people are talented.... the acting biz is like the lottery and all the winners and the lottery are in that state...

California real estate taxes are low making the property artificially high.... pricing out most people except the wealthy., Many ordinary folks in the last generation made their $$ from real estate and nothing else... Like the Beveryly Hill billies... oil came from the land.. in California the land became gold due to lower tax rates.

Also image of California across the world is of the past decades of film stars which people in the third world see in films, living the good life... Its all a sham..... illlusion especially when they arrive only to find they are enslaved by a dream. Only those with $$ can live the good life in Calif.

On one plane ride to LA to go tothe British Council General... the plane was filled iwth calif residents who looked like casting for "Grapes of Wrath" Most were dirty and had very cheap clothing. One woman was in her late 20s and had no teeth. with a 3 yr old girl in her arms(probably lied about the child's age to get a free or reduced ticket) Talk about cattle car.!

Immigrants move there because of the silver screen and are scalped by cost of living... its almost slavery of illusion and fantasy.

In california Everyone like to think they are "SOMEONE". Reality is... what the rest of the USA knows about the state and why so many are moving out of there.

[Twinkle Toes]

Gee, what an upbeat post. How nice.

[NYSD1995]

Originally Posted by JerZ

You're kidding, right? First of all, New York Metro means just that: New York metro. It doesn't include New York state--any of it. It doesn't include Long Island. It includes New York City, period.

The New York Metro CBSA as defined by the US census actually includes NYC, Long Island, Westchester, Northern NJ, Southern Connecticut. Having grown up in the area, it is typically referred to as the 'Tri-State Area'.

[JerZ]

Originally Posted by Sassberto

The New York Metro CBSA as defined by the US census actually includes NYC, Long Island, Westchester, Northern NJ, Southern Connecticut. Having grown up in the area, it is typically referred to as the 'Tri-State Area'.

I, too, grew up in the area and never referred to New York Metro and the Tri-State Area as the same thing.

There was a reason we had the term "tri-state area", rather than simply calling it all New York Metro.

I believe someone--maybe the OP (don't remember now and am too lazy to track back) said there was no specification anyway of what the New York Metro area was for the purpose of this particular statistic. So the assumption that the New York Metro area was the same as the criteria generally used by the U.S. Census is just that, an assumption.

However--it seems like the point is moot, as there has been an overwhelming amount of conflicting evidence--or more often, opinion--on this thread anyway, and little has been resolved. We have learned that LA is "not that bad" and that people who complain about it are just that, complainers; then, that even the millionaires live in the bad areas (what happened to that "not that bad" part?); that there are fewer millionaires per capita in LA than NYC but that it doesn't count because some people want various other counties included in the LA statistics; etc.; etc. We have learned that millionaires like to be in LA because of the weather, but that the weather is boring; that they have to live here for fame, but that fame means nothing; etc.

Back to your point about my post--okay, then, go ahead and add in those other counties. The saturation of millionaires will still not top NYC, but don't worry. There's plenty of other criteria that can be thrown in there to try to up the numbers further. If these are leaned upon, and the more dire statistics--such as the relatively high saturation of crime in LA (JUST the city, mind you--not even needing the help of the outlying cities, much less going out of the county) are continuously downplayed, and the millionaires are factored in, and the weather, and if the smog is factored out, well then...yep, you've got paradise. :P You just need to keep finagling the numbers here and there...it all works out in the end.

[shyasher]

People who became millionaires are people just like you, me and everybody else. They just had a good opportunity infront of them, recognized it and did something about it!

If you want to learn more about creating wealth in L.A, come listen to a lecture about it.

It will be held on:

Wednesday, April 11th @ 7:30pm at the “Veterans Memorial Building”- 4117 Overland Ave. Culver City. CA 90230

[newportbeachsmostwanted]

Originally Posted by kgee

Scenery? When I look up I only see the same trees that are planted all over, buildings and sky. Not incredible like AZ or NM and other states.

Incredible like AZ or NM?! What.. desert?

L.A. has incredible bio-diversity.

You've got oak trees and arbor vitae growing all over the valley..
Mature eucalptus growing beside the 405 freeway..
Walnut tree-lined streets in Culver City..
You have pines growing throughout Beverly Hills..
Wild Sycamore trees growing in the Brentwood canyons..
Redwoods in Bel Air..


What more can you need?

[TheRealAngelion]

Originally Posted by JerZ

I, too, grew up in the area and never referred to New York Metro and the Tri-State Area as the same thing.

There was a reason we had the term "tri-state area", rather than simply calling it all New York Metro.

I believe someone--maybe the OP (don't remember now and am too lazy to track back) said there was no specification anyway of what the New York Metro area was for the purpose of this particular statistic. So the assumption that the New York Metro area was the same as the criteria generally used by the U.S. Census is just that, an assumption.

However--it seems like the point is moot, as there has been an overwhelming amount of conflicting evidence--or more often, opinion--on this thread anyway, and little has been resolved. We have learned that LA is "not that bad" and that people who complain about it are just that, complainers; then, that even the millionaires live in the bad areas (what happened to that "not that bad" part?); that there are fewer millionaires per capita in LA than NYC but that it doesn't count because some people want various other counties included in the LA statistics; etc.; etc. We have learned that millionaires like to be in LA because of the weather, but that the weather is boring; that they have to live here for fame, but that fame means nothing; etc.

Back to your point about my post--okay, then, go ahead and add in those other counties. The saturation of millionaires will still not top NYC, but don't worry. There's plenty of other criteria that can be thrown in there to try to up the numbers further. If these are leaned upon, and the more dire statistics--such as the relatively high saturation of crime in LA (JUST the city, mind you--not even needing the help of the outlying cities, much less going out of the county) are continuously downplayed, and the millionaires are factored in, and the weather, and if the smog is factored out, well then...yep, you've got paradise. :P You just need to keep finagling the numbers here and there...it all works out in the end.

JerZ, you still seem to be confused about two things: 1.) What defines NY Metro area and 2.) how many millionaires reside in NYC.

As was pointed out to you in a previous post the New York Metro area is defined by the U.S. Census as a 23-county metropolitan area including the seven counties that constitute New York City and Long Island, twelve counties in northern New Jersey, three counties north of New York City in New York State, and one county in northeastern Pennsylvania. So yes, indeed, New York Metro does include residents who live outside of NYC and outside of NY State entirely. The following link provides a description of the New York Metro area:

http://en.wikipedia.org/wiki/New_York_metropolitan_area

On the second point, New York County which is Manhattan, where most all millionaires in NYC live, only has 62,773. See graphic in the following NY Times article:

http://www.nytimes.com/2006/03/28/bu...erland&emc=rss

Does this help?

[NYSD1995]

Originally Posted by TheRealAngelion

JerZ, you still seem to be confused about two things: 1.) What defines NY Metro area and 2.) how many millionaires reside in NYC.

As was pointed out to you in a previous post the New York Metro area is defined by the U.S. Census as a 23-county metropolitan area including the seven counties that constitute New York City and Long Island, twelve counties in northern New Jersey, three counties north of New York City in New York State, and one county in northeastern Pennsylvania. So yes, indeed, New York Metro does include residents who live outside of NYC and outside of NY State entirely. The following link provides a description of the New York Metro area:

http://en.wikipedia.org/wiki/New_York_metropolitan_area

On the second point, New York County which is Manhattan, where most all millionaires in NYC live, only has 62,773. See graphic in the following NY Times article:

http://www.nytimes.com/2006/03/28/bu...erland&emc=rss

Does this help?

A lot of NYC money is in Port Washington, Westport, Westchester etc.

[fastfilm]

I think a lot of you are confused about true wealth. The billionaires have multiple homes, one here, Palm Springs, or in FLA for winter, amongst several others. Old money begets the young business hotshots you all work for: they had opportunities absolutely invisible to most. It's about extra hard work for us, not them. What if you never had to pay back a student loan for a law degree from a top school 'cos mater and pater covered same? 'Think that might have jumpstarted your investment portfolios a bit?

Yetti0's post is accurate, as are the ones that acknowedge how shielded the wealthy here are from the widespread dangerous and blighted areas of Los Angeles.