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What is so great about the Bay area that it has come to this?!
Maybe just let those who drove up these insane prices have it. Let them have it and there will be no nurses, teachers, firefighters, social workers, etc... No one to look down on, that would tank the market.
first of all, would you rent from Craigslist? I wouldn't want to be on the news the next day. Second, those are rentals for a bedroom in someone's house. yikes!
They better at least be able to afford the land... giving away houses at discount prices just drives up the price of them and basically hands out select people free money for no good reason. Let the free market dictate what they can afford. If they can't afford southern CA, they should move. It's a big country.
As someone who works and earns a middle class income it irks me to think that government thinks people are entitled to substantial discounts on real estate because they are "low wage earners" .. it's one thing letting them have subsidized rent, but they shouldn't be able to massively profit from the deal, and should have to give any profits from the home's sale, back to the government.
Palo Alto isn't SoCal.
And certainly the sale of the home should have profit sharing with the govt in relation to the amount covered by the govt.
first of all, would you rent from Craigslist? I wouldn't want to be on the news the next day. Second, those are rentals for a bedroom in someone's house. yikes!
In SF proper, it's closer to $2000 or even $2500 just to rent a bedroom in someone's apartment.
Fifteen years ago this was happening. I knew a lady who owned a house in Lake Tahoe valued at over a million and a house in SF that she bought years before. Worth several million. She signed them over to her kids and moved into a subsidized for low income seniors apartment. That building was full of rich old women.
Yes that is quite true except there aren't a lot of Apples, Oricles, Googles elsewhere
and the whole start-up scene and VC capital
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I wouldn't want to be on the news the next day. Second, those are rentals for a bedroom in someone's house. yikes!
