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

[Roadking2003]

And then people in CA wonder why their taxes are so high.....
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PALO ALTO (CBS SF) — Palo Alto is seeking housing solutions for residents who are not among the region’s super-rich, but who also earn more than the threshold to qualify for affordable housing programs.

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.

$250K/Year Salary Qualifes For Subsidized Housing Under Palo Alto Plan « CBS San Francisco

[Northeastah]

here's why

"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.

“Prices have just gone through the roof, making it unaffordable for middle-class people, your firefighters, your teachers, and, frankly, some of your doctors,” Palo Alto Vice Mayor Greg Scharff said."

[MPowering1]

Originally Posted by Northeastah

here's why

"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.

“Prices have just gone through the roof, making it unaffordable for middle-class people, your firefighters, your teachers, and, frankly, some of your doctors,” Palo Alto Vice Mayor Greg Scharff said."

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

[Northeastah]

Originally Posted by MPowering1

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

I'm not saying it, the article did.

[chadgates]

Unfortunately it is a fact.

An 1100 SF rancher will sell for half a million in Anaheim.

[MPowering1]

Originally Posted by Northeastah

I'm not saying it, the article did.

I may have read your post wrong, but I thought you were explaining the reason for that. No?

[MPowering1]

Originally Posted by chadgates

Unfortunately it is a fact.

An 1100 SF rancher will sell for half a million in Anaheim.

If you cannot afford to BUY a home, you rent.

[Northeastah]

Originally Posted by MPowering1

I may have read your post wrong, but I thought you were explaining the reason for that. No?

I quoted from the article, hence the " "

Originally Posted by Northeastah

here's why

"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.

“Prices have just gone through the roof, making it unaffordable for middle-class people, your firefighters, your teachers, and, frankly, some of your doctors,” Palo Alto Vice Mayor Greg Scharff said."

[sholomar]

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.

[MPowering1]

Originally Posted by Northeastah

I quoted from the article, hence the " "

Got it.

Again, if you make that kind of money and cannot afford to buy, you rent.