according to London's Daily Mail, Palo Alto, Ca. is considering a housing subsidy for people making $250,000 a year.
|"People earning $250,000 a year should qualify for subsidized housing in Palo Alto, according to a new proposal.City officials have outlined an eight-year affordable housing plan ? with 587 units for reserved for the area?s uniquely wealthy middle class as real estate prices balloon...With house price averages an eye-watering $3 Million, even those earning $250,000 a year are spending two-thirds of their monthly salary (about $14,000) paying off their mortgages."|