I just find “affordable housing” in this context to be terribly amusing. Click to view the gory details.
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Interesting idea of “affordable.” Nearly $36k for a place, but only if you have a maximum income of less than $112k. So “affordable” means a about third, or more, of your income. (Gross, or net of taxes, I wonder?) Getting no equity. Wow. Not MY idea of affordable, that’s for sure.
Those prices. Great googly moogly…
My math: family of 3; $40K; Rent = $36K. Now you have to live at Bay Area prices on <$25K?
Of course you won't.
Live there and you WILL be Kalifornicated. No lube.
That was supposed to read Taxes Fed/State >$40K
I grew up in P-town.. This definition of “affordable” has been the norm for at least 40 years. It also has a lot to do with why I pulled the eject handles a quarter century ago!
I recall my then boss saying (circa 1987) “My husband and I are going to look at “shacks” this weekend.” “Huh” I questioned “Why are you looking at “shacks””? “Because with our combined income we have a budget of $200K. And today that gets us into a “shack”.
A little follow up research in the market told me she was right. Buying a house on my single beginning engineer salary was hopelessly out of sight. And the market was going up faster than I could save.
Pulling those handles and getting out of CA was probably the best move of my life.
I used to come “home” to visit, typically the week between Christmas and New Years. The newpapers invariably were full of all the new laws that would take effect with the new year. And I’d get mad and high-tail it from the state.
Yeah, should have clarified: this ad is for the *subsidized* below-market-rate (BMR) housing units that new developers are required to include in recent new housing developments.
I say again, this is housing for the officially *poor.*