families making from $150k to $250k a year get housing subsidies (Indiana, cost)

[Frank DeForrest]

A whole lot of the fed reserves newly minted funny money is ending up in the area and driving up the prices.

[lvmensch]

Thirty years ago Palo Alto was already too expensive for top level Engineering Executives. They could still afford the area but not PA itself. The problem now is it is becoming too expensive in the whole area for the normal civic worker or the retail people. My kid did it 20 years ago by moving well south of San Jose. She and hubby made $100,000 in a couple of years on their place. But even that strategy is now too expensive and they were an hour and a half from PA.

So if your workers can't afford to live within commute range what do you do? You could drive salaries up by a factor of two or three...but that also would have to be paid for. May well be cheaper to provide housing.

[tamajane]

Originally Posted by TheWiseWino

Yes that is quite true except there aren't a lot of Apples, Oricles, Googles elsewhere

So?


If they are so gung-ho about the Big companies let them fight over the real estate. I don't understand the rest of the population sticking around with the only hope of ever owning being subsidized housing or else renting tiny spaces at insane prices. What is the big appeal if you don't worship at the alter of Apple & co...

[Roadking2003]

Originally Posted by hooligan

If their salaries are coming from taxpayer funds, and this subsidy is coming from taxpayer funds - what's the difference to the taxpayer between the two scenarios?

There is a huge difference. Salaries are what they earn based on their market value. Subsidies are not earned.

[Roadking2003]

Originally Posted by ohhwanderlust

$250K family income is solidly middle class in the Bay Area. It's not even upper middle class, much less affluent.

I don't recall anyone saying it was affluent.

[Roadking2003]

Originally Posted by ohhwanderlust

In SF proper, it's closer to $2000 or even $2500 just to rent a bedroom in someone's apartment.

There is a very simple solution; move.

[Roadking2003]

Originally Posted by TheWiseWino

Yes that is quite true except there aren't a lot of Apples, Oricles, Googles elsewhere

Actually, there are. There are millions of tech jobs all over the USA outside of silicon valley.

[Crossfire600]

I'm in! It's about time I get something back for the 48k in taxes I paid last year!

Where do I sign up?

[TrapperJohn]

Originally Posted by MPowering1

Are you saying a family of four making $150K to $250K a year cannot rent a place and live without support of the government?

Not in my neighborhood. But then families making $500K aren't going to live in some Los Altos Hills neighborhoods. It's all relative.

[TrapperJohn]

Originally Posted by lvmensch

Thirty years ago Palo Alto was already too expensive for top level Engineering Executives. They could still afford the area but not PA itself. The problem now is it is becoming too expensive in the whole area for the normal civic worker or the retail people. My kid did it 20 years ago by moving well south of San Jose. She and hubby made $100,000 in a couple of years on their place. But even that strategy is now too expensive and they were an hour and a half from PA.

So if your workers can't afford to live within commute range what do you do? You could drive salaries up by a factor of two or three...but that also would have to be paid for. May well be cheaper to provide housing.

Equity and options along with Chinese money are driving the market; salaries pay the taxes and the light bill.