USA: Road to success? Taiwanese citizens buy local street after residents fail to pay taxes

In a strange turn of events, San Franciscan locals discovered the upmarket street they live on had been sold to a couple of Taiwanese citizens for $90,000 (€76,400). Some of the street’s residents spoke to journalists on Tuesday. Local resident Ludwig Kinkerini called the situation an example of the «mismanagement of the city» and said «this should never have happened, this is ridiculous, I... Еще mean, probably the world is laughing at San Francisco, right?» The upscale Presidio Terrace was sold to the highest bidder after residents failed to pay city taxes for their streets. Neighbours have sued the city on the grounds that the tax bills were sent to the wrong addresses and no one was informed. The sale means that the streets and common areas belong neither to the residents, nor the city.

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