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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsPalo Alto considers subsidized housing for salary up to $250K
http://www.reuters.com/article/us-california-rent-idUSKCN0WQ0CBPalo Alto officials are considering providing subsidized housing for people earning up to $250,000, as rent and home prices soar in the Silicon Valley city.
The plan is a among a series of proposals being mulled by the Palo Alto City Council to provide affordable housing to those considered middle class in the area - families making between $150,000 to $250,000 annually.
The median household income in the U.S. in 2014 was about $52,000, according to U.S. Census Bureau statistics.
The proposals include building about 2,000 new units that would be made available for those earning less than $250,000, as well as the construction of tiny apartments known as micro units in the San Francisco Bay area city.
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Palo Alto considers subsidized housing for salary up to $250K (Original Post)
steve2470
Mar 2016
OP
pipoman
(16,038 posts)1. Hey.. I have an idea. ...lets make the most expensive real estate
In the country on the biggest overdue for a major event fault line on the planet...maybe a nice summer home on the Mississippi River flood plain... Fucking morons.
dixiegrrrrl
(60,010 posts)2. The problem with the subsidizing model
is it works by giving the landlord money, and does not encourage realistic prices.
It has been a model for years now.
Same with medical insurance subsidies.......does nothing to encourage insurance companies to stop price gouging.
Starry Messenger
(32,342 posts)3. This is totally emblematic of how insane things are here.
And everyone yelled at me months ago when I said that households making $250k are considered middle class in the Bay Area. There it is, folks.
edhopper
(33,575 posts)4. I get the same shit
when I talk about NY City rents and prices. (And that is NOT just Manhattan)
AgadorSparticus
(7,963 posts)5. WOW. I can't imagine that 250k is middle class.That is just CRAZY!! Nt.