Posted on 06/24/2023 12:09:43 PM PDT by ChicagoConservative27
LOS ANGELES (KABC) -- The California Department of Housing and Community Development released new income limits this month, and they increased in most counties.
These limits are calculated annually based on federal guidelines and are used to determine eligibility for things like affordable housing programs.
In Orange County, one-person households making less than $80,000 a year are considered low-income, according to the California Department of Housing and Community Development.
That's up from just under $76,000 last year, and puts Orange County as the most expensive of the Southern California counties.
In Ventura County, it's a little over $74,000 and in Los Angeles County, it's just under $71,000.
(Excerpt) Read more at abc7.com ...
Does this mean the Government is lying to us? 🙄
They try to take “volatile” elements out but we have to buy from those categories (food and energy).
I looked up the old house I was living in when I grew up. the market value doubled from not long ago. The old neighborhood is totally declining and there’s no relationship to the “gentrification” areas of San Francisco or other elite real estate areas.
BTW...I don’t believe this government funded study...the more it costs to live, the more the government will demand.
To be fair, nobody ever worries about a bubble when they are in one.
Not saying it will pop, but somethings gotta give.
Do they count the $950 shoplifting thefts as income?
poverty is reportly $104,000 in parts of the SF/San Jose Bay area
I remember when my aunt and uncle bought a house in Palo Alto for 69k in the 80s. The family thought they were crazy. Now, it’s worth millions for the same tiny little house and yard. They could sell it, but move where?
“My dad bought a house in Huntington Beach for $220k in 1995”
My Dad paid 28.8k for new build in Brea (North OC) in 1965. Brea was the sleepy ugly step child of the OC back then. Very much less so now. It’s still in the Family worth about a million for a 1900 sq. foot home. My Sister has put probably 150k into it since my Mom died in 2018 as Mom spent on others not herself. It will go to my Nephew when the time comes.
“I remember when my aunt and uncle bought a house in Palo Alto for 69k in the 80s. The family thought they were crazy. Now, it’s worth millions for the same tiny little house and yard. They could sell it, but move where?”
One of the only good things about California is that Seniors can keep their Property tax base if they sell and downsize their Home (but buy something else in CA.) So if they have been in their House for 30 -40 years thanks to Prop. 13 (which was an amendment to the Constitution) they will keep the rates they currently have. Now if a younger couple buys that house they will get the shaft hard on their assessed taxes.
You make $20/hr and that is just enough to pay for a 1 bedroom apartment with a little left over for food, maybe.
I'm assuming WWII. Incredible prices back then. My Dad bought a home in San Francisco in 1950 for $6000, fully furnished, and paid $100 down. He was still in the U.S. Army after serving in the war. That same home is now worth $2.8 million, although my mom sold it for $23,000 in 1973. Too bad she didn't hold onto it. Inflation in the Jimmy Carter days skyrocketed the home prices.
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