Reply #29: Except in one of the reddest/richest counties in TX [View All]

[rainbow4321]

Where high tech jobs have been outsourced and those who were once living high on the hog (in the 1990's) now are dealing with foreclosures and bankruptcies.



http://www.dallasnews.com/sharedcontent/dws/news/longterm/stories/081505dnccowealth.2e6909d.html


• On average, Collin County residents have more credit card debt – $4,200 – and a lower net worth – $125,000 – than residents of other high-income counties throughout the country, according to a Dallas Morning News analysis of various economic indicators, including Claritas Market Audit.

• The average amount due on an auto loan or lease service for Collin residents is about $19,300, highest among a dozen comparison counties.

• Bankruptcies – about 3,500 last year – more than doubled over five years, outpacing all other similar-sized counties nationwide.

• About 3,300 homes were foreclosed upon last year, two-thirds in higher-income neighborhoods.

http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/081505dnccobuy.8154bd3.html


About 1,000 Collin County addresses are in the database of the wealthiest Americans compiled by the American Affluence Research Center in Miami. The center sells its list to companies catering to high-income households.

Dallas' shine and passion for high-society flair has spread to some of its suburbs. The wealthiest pockets, such as the old money of Highland Park, deserve their well-heeled reputations. Some Collin County buyers might be stretching their credit capacities to keep up, but businesses are targeting the area for its potential.

It's the wealthiest county in Texas and one of the wealthiest in the nation.


For busy families, there are gardeners, nannies and housecleaners. Other businesses will deliver dry cleaning, run errands, plan children's birthday parties and even put up Christmas lights. Labels from Armani to Yves Saint Laurent beckon at the malls, which are ringed by specialty stores.