Is This Wealthy San Fran Suburb Really On The Brink Of Bankruptcy Or Is It A Scam To Raise Taxes
When you think about municipal bankruptcies, your mind likely conjures images of a decrepit Detroit littered with abandoned auto plants and burned down houses or the rapidly deteriorating city of Chicago with it's gang wars and neighborhoods that look and feel more like an Iraqi battlefield than a U.S. suburb.
What you likely don't think about is an ultra-posh suburb of San Francisco where the median home will run you over $1 million. But according to Bloomberg, the wealthy Northern California city of Moraga could be the next Cali domino to fall.