[quote=bearishgurl]
Yes, but the residents INSIDE the covenant are claiming LESS income than CV and it is MORE expensive to live inside the covenant than CV due to high HOA dues, grounds maintenance, utilities, etc. I don’t think they’re paying all these expenses with their good looks, ocrenter.
This leads me to believe that the covenant residents’ outstanding mortgages overall are smaller than those of CV (40-50% of LESS income is LESS mtg pymt). At the same time, the properties inside the covenant are worth far more than CV (92130). This would lead one to believe that the homeowners inside the covenant have a higher net worth than those of CV.[/quote]
You were asking how many in the Covenant have their mortgages paid off. and my implied answer is probably the same amount as the couple of CV tracts.
I didn’t say anything about their net worth, but did infer with prior comment that they are likely more “old money” which essentially means they do have higher net worth.
Another key issue here is folks in the Covenant are probably more likely to be business owners, who will likely have the ability to write off a lot more deductions, thereby makes it seem like they have less income. While CV owners are probably more likely to be professionals getting W2’s and therefore can’t really hide their income as well. That is just a guess on my part.
