by Michael Krieger
Welcome to the new normal, where in bubble communities, $250,000 per year is now a middle class income.
Nothing to see here.
From CBS News:
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 threshhold 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.