Attention Mr. Jewell! This kind of solution may save your trailer park!
11/7/18 | Reposting a 4/23/19 article from Hoover Institute by Lee Ohanian.
Welcome to the world of the $70 million trailer park, which could only happen in California. The backdrop for this economic insanity is the city of Palo Alto, which is in Silicon Valley, and where the median-priced home is nearly $4,000,000, according to Zillow. There is not an extra zero here. This is not a typo. Purchasing such a home with a 20 percent down payment would require about $800,000 upfront and a qualifying annual household income of roughly $650,000, assuming you have a really good FICO score and no other debt. No medical school loans. No law school loans. You get the picture. (READ MORE)
SOURCE: Hoover Institute by Lee Ohanian.