$250,000 a year in income is not what it used to be… and in tech-rich Palo Alto, CA it essentially means you’re poor.
Under a new plan in Palo Alto, families making up to $250,000 could qualify for subsidized housing.
The city council has unanimously passed a housing plan that would essentially subsidize new housing for what qualifies as middle-class nowadays, families making from $150,000 to $250,000 a year.
Teachers, firefighters and other government workers not earning enough to afford cost of living.
Some of the small two-bedroom, one-bath homes on her block are worth between $1.5 and $2 million – as teardowns. That’s just what the dirt is worth.
This always ends well… doesn’t it?