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> This buyout program provides a viable pathway forward for our most vulnerable community members > Hong estimates that his home would have been worth about $3

> This buyout program provides a viable pathway forward for our most vulnerable community members > Hong estimates that his home would have been worth about $3.6 million two years ago Yeah, this person who was able to afford a $3.6M home sure sounds like "our most vulnerable" people. He needs a bailout for making a poor decision on buying that house in a place prone to landslides. Not the hungry kids in our schools whose parents can't afford/won't provide healthy meals. We got money for millionaires but not hungry kids and people with chronic medical needs. > "We’re committed to staying,” Reeves, 81, said. “We’re pretty financially committed now.” > They are weeks into a major renovation after a fissure forced apart rooms in their home. Their home is constantly being torn apart by the ground and yet they're committed to staying. Insanity.

doctorpangloss 2y ago
Then it should be obvious to you the parallels with Paradise, CA, where average home sales prices were at $700k just prior to the wildfire, growing faster than San Francisco’s prices: the reason we are doing this bailout is due to the politically powerful interests of a lot of wealthy savers. The people in this thread saying “it’s PG&E’s fault” are incredibly naive.
- vel0city 2y ago
  > Then it should be obvious to you the parallels with Paradise, CA It is. Insane all ratepayers are shouldering all the cost to rebuild rich people's mansions.
scheme271 2y ago
That 3.6M million dollar home might have been worth a lot less before asset appreciation happened. There's quite a few people living in expensive areas that bought homes 20-30 years ago when it was dirt cheap, the place became popular, and now they're a teacher or something who owns a multi-million dollar home while living on 80k a year or something.
- vel0city 2y ago
  The article also mentioned their home was a new build and they moved in a few years before this happened. But sure, keep telling me their new mansion on quicksand needs a bailout and they're far more needful than hungry malnourished kids. > now they're a teacher or something who owns a multi-million dollar home while living on 80k a year or something. TBH, if their home is now worth millions, they should retire and move someplace cheaper. The market is telling them that land is worth way more than a lifetime of their earnings. They should capitalize on that. They're still far weather people that he vast majority of Americans, and probably the top 0.001% of people on Earth. That they failed to cash their lotto ticket in time before their mansion on the quicksand fell apart leaves me zero sympathy. I wish I could fail at cashing in my $3.6M lotto ticket I bought for relative pennies. At least I would have been given the chance, no?

doctorpangloss 2y ago

Then it should be obvious to you the parallels with Paradise, CA, where average home sales prices were at $700k just prior to the wildfire, growing faster than San Francisco’s prices: the reason we are doing this bailout is due to the politically powerful interests of a lot of wealthy savers. The people in this thread saying “it’s PG&E’s fault” are incredibly naive.

vel0city 2y ago
> Then it should be obvious to you the parallels with Paradise, CA It is. Insane all ratepayers are shouldering all the cost to rebuild rich people's mansions.

scheme271 2y ago

That 3.6M million dollar home might have been worth a lot less before asset appreciation happened. There's quite a few people living in expensive areas that bought homes 20-30 years ago when it was dirt cheap, the place became popular, and now they're a teacher or something who owns a multi-million dollar home while living on 80k a year or something.

vel0city 2y ago
The article also mentioned their home was a new build and they moved in a few years before this happened. But sure, keep telling me their new mansion on quicksand needs a bailout and they're far more needful than hungry malnourished kids. > now they're a teacher or something who owns a multi-million dollar home while living on 80k a year or something. TBH, if their home is now worth millions, they should retire and move someplace cheaper. The market is telling them that land is worth way more than a lifetime of their earnings. They should capitalize on that. They're still far weather people that he vast majority of Americans, and probably the top 0.001% of people on Earth. That they failed to cash their lotto ticket in time before their mansion on the quicksand fell apart leaves me zero sympathy. I wish I could fail at cashing in my $3.6M lotto ticket I bought for relative pennies. At least I would have been given the chance, no?