We already know the answer.
Both ends of this spectrum amaze me. So, as others point out, if you "only" make 245K a year or so you are considered so bad off you would qualify for subsidized housing? It is also interesting that they feel they need to subsidize the middle class...
Or, if you are making 145K a year or so you don't even qualify as middle class there? {expletive}! Every one of the people working under me has a college degree and makes less than that. They are all very comfortable here, but would be basically destitute in Palo Alto? Here they are all in the range of mid middle class income to upper end of middle class income. SMH...
How can these expensive places even have a middle class??
Based strictly on the money situation, these expensive places should be hemmoraging(sp?) all but the very wealthy.
If you earn an upper middle income salary, say over $100,000, but can’t afford a decent place to live, and you can go somewhere cheaper in the country, and be able to easily afford a nice house, shouldn’t we see huge numbers of people do just that?
I know the weather is nice in California and all that. I live here myself, partly due to that. But at some point, won’t those who are able to do so, just up and leave???
And when critical numbers up and leave, won’t the housing prices have to come down, based on supply and demand???
Clearly some places such as Silicon Valley are just out of control, relating to real estate. There’s got to be other factors involved. Are there certain high tech jobs in Silicon Valley which just aren’t found elsewhere??? Is it possible that some of these six figure earners can’t find a corresponding job elsewhere, for example????