Welcome to the new normal, where in bubble communities, $250,000 per year is now a middle class income.

Nothing to see here.

From CBS News: PALO ALTO (CBS SF) — Palo Alto is seeking housing solutions for residents who are not among the region’s super-rich, but who also earn more than the threshhold to qualify for affordable housing programs.

The city council has unanimously passed a housing plan that would essentially subsidize new housing for what qualifies as middle-class nowadays, families making from $150,000 to $250,000 a year.

Sky-rocketing housing prices in Palo Alto have left some in limbo; with teachers, firefighters and other government workers not earning enough to afford cost of living.

more at Source: The New “Middle Class” – Making $250,000 A Year In Palo Alto Qualifies For Housing Subsidies | Zero Hedge