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Wealthy Americans Show Few Recession Adjustments
Wealthy residents of Los Angeles and surrounding areas have not cut discretionary spending despite the recession. Families earning from $50,000 to several hundred thousand dollars maintain luxurious habits, with continued car purchases, dining, and real estate activity. Real estate in Bel Air and Brentwood remains brisk while department stores see fewer shoppers, yet high-end clinics report ongoing cosmetic surgeries.
MENTIONED IN THIS ARTICLE
Vernon Scott
UPI
Los Angeles
Beverly Hills
Marvin Hime
San Francisco
Jack Miller
Switzerland
Wall Street
San Fernando Valley
Pye
Bel Air
Brentwood
Holmby Hills
Mike Silverman