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A lot of new construction in the Bay Area requires a set aside for low-income.
It is not unusual for someone on Section 8 to be living in a half million dollar home... I personally know of more valuable homes with Section 8 that are 50% higher... and that would be $750k
I agree, a 750K home is not luxury in the SF Bay Area... but is a very long way from being impoverished and destitute.
If you cross the bridge to San Francisco the home value could be a million dollar home.
Where else in the entire world are those living on public assistance living in a million dollar home?
Yeah but really that "million dollar home" is worth 100k adjusted for inflation.
How would they know? The way they have always known. The numbers are based a survey with a very large sample base. As with any survey the numbers could be off in any one month, but overall its likely fairly accurate at showing the trends. Clearly they are not surveying everyone. Look at the effort that is required to perform the census every 10 years.
"Always" in this case means since 1940 when the first household surveys to estimate unemployment were done. New technology and expanding academic interests have fueled survey changes over the years, but the actual unemployment number (U-3) is still the same number it was at the beginning. The surveys today are done monthly during whichever week the 12th of the month falls in. More than 60,000 households are involved. They are carefully selected so as to comprise a representative sample both by region (there are about 2,000 of those) and nationally. Once included, a household spends four months in the survey. It then drops out, but returns for the same four months in the following year before dropping out for good.
No, it's not at all. Internet hooey about the sweet deal that welfare recipients have is a load of tripe. End of story.
America is a generous country and California Bay Area cities even more so...
A Section 8 certificate is a gateway to hundreds of programs... including reduced utility rates, childcare, healthcare, food, to summer teenage job experience programs...
Anyone that denies this either does not want to face the reality or chooses to be uninformed.
A little boy I know was born premature with a heart defect... his 31 year old Grandmother holds a housing voucher... she was 31 when he was born.
Over the last 7 years that child has received over a million dollars of care at Stanford at zero cost to the family... not a single penny and it looks like he will go on to live a full and active life.
The family is also housed at no cost at the Ronald McDonald House...
I realize the facts can be hard for some to accept.
Yeah but really that "million dollar home" is worth 100k adjusted for inflation.
What would your income be adjusted for inflation? Having $1 when a coke costs a quarter is the same thing as having $2 when a coke costs 50 cents. People who think they are better off in either the $1 or the $2 situation are simply detouring around rationality.
What would your income be adjusted for inflation? Having $1 when a coke costs a quarter is the same thing as having $2 when a coke costs 50 cents. People who think they are better off in either the $1 or the $2 situation are simply detouring around rationality.
I would make 6000 or so adjusted for inflation in 1959 so I could buy the house when it was 10000 very easily
So by adding the two zeroes needed to get the 10,000 up to 1,000,000, we can estimate your income today to be in the $600,000 range?
Nope because Bay Area housing outperforms inflation/it's inherit value
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