Article discussing Palo Altans' class awareness: https://www.paloaltoonline.com/news/2018/02/09/the-meaning-of-middle-class …pic.twitter.com/z5EnhbJeTj
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If you can step out of your safe space echo chamber, this conservative YouTuber actually have a great insight on why Bay Area housing prices are so high: https://youtu.be/Nk8-lLJEeQw
Is there public data on mortgages? My guess is the average down payment even for first time home buyers is far higher than 20%. Only heirs and tech windfalls can buy in PA.
I mean $180k a month doesn’t sound as bad as $3m. That said, that’s before the tax plan.
I think the real gap is between renters and owners; owners are accumulating capital and benefiting from tax incentives while renters are not.
We need a federal tax savings plan for first time homes. A plan renters could put money tax free for first time homes and only withdraw for that use otherwise pay income tax. A HSA home savings account. Or make FHA limits pegged to zip code prices.pic.twitter.com/pTMbIgodSO
Without a viable path to home ownership, what is "middle class?"
Serfdom
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