$2,800,000 for a 1,500sq. ‘ home in Silicon Valley !!

[Janderso]

My wife read an article this morning about a home near Apple Park sold for $800,000 over the asking price.
This is a .12 acre parcel in a standard high density sub division.
1,500 square feet! 3 bedroom- two bath.
What, who, how can anyone afford this?

Went to Lowes yesterday, I needed 12’ of #10 stranded wire. I need red and black. They had no black in bulk or in rolls.
I paid $12.83 for two strands.
A 500 foot roll was $508.
Is it just me or does the value of dollar seem to be darn near worthless?
On a positive note, fuel prices are expected to drop soon

 

[projectnut]

My wife read an article this morning about a home near Apple Park sold for $800,000 over the asking price.
This is a .12 acre parcel in a standard high density sub division.
1,500 square feet! 3 bedroom- two bath.
What, who, how can anyone afford this?

Went to Lowes yesterday, I needed 12’ of #10 stranded wire. I need red and black. They had no black in bulk or in rolls.
I paid $12.83 for two strands.
A 500 foot roll was $508.
Is it just me or does the value of dollar seem to be darn near worthless?
On a positive note, fuel prices are expected to drop soon

Prices here in the Midwest are a bit more reasonable. I can sell you our 2,800 sq. ft. house complete with a 3 car garage and machine shop for a mere $1,999,000.00. Just think of the money you'll be saving.

On a more realistic note the prices all over the country are out of control. We have a family cottage on a small lake about 100 miles north of our home. Last fall someone paid over $280,000.00 for a cottage that was assessed at $80,000.00. The place is not much bigger than an outhouse, and sits on a property about the size of a postage stamp. There is no yard and the lake access is down a steep staircase. I would have been hard pressed to pay the assessed price let alone over 3 times the assessed value.

 

[Navy Chief]

Silicon Valley is one of the wonderful places that has incredibly intelligent and educated people working there, and living in their cars because they can't afford even a studio apartment...

 

[MrWhoopee]

I have a friend who used to sell real estate in the Bay Area. She told me that the market was driven by the wealthy from other countries, notably India and China, along with the over-paid dotcom millionaires. It's the climate, both physical and cultural. The wealth gap is real and getting bigger.

 

[Janderso]

I have a friend who used to sell real estate in the Bay Area. She told me that the market was driven by the wealthy from other countries, notably India and China, along with the over-paid dotcom millionaires. It's the climate, both physical and cultural. The wealth gap is real and getting bigger.

Unbelievable

 

[MrWhoopee]

Silicon Valley is one of the wonderful places that has incredibly intelligent and educated people working there, and living in their cars because they can't afford even a studio apartment...

A few years ago there was an article in one of the Bay Area newspapers about a homeless man who lived in a tent in the middle of a cloverleaf interchange. He had a nice car, cell phone and a club membership where he showered etc. He had a good paying job, just not good enough.

 

[Navy Chief]

A few years ago there was an article in one of the Bay Area newspapers about a homeless man who lived in a tent in the middle of a cloverleaf interchange. He had a nice car, cell phone and a club membership where he showered etc. He had a good paying job, just not good enough.

I have met several people in the IT industry that lived in their cars and showered at the YMCA while they worked in Silicon Valley... They make very good money and can't afford to live there.

 

[RJSakowski]

The significantly higher prices for homes in California has been a mystery to me for almost fifty years. I can see how land and lot prices may be higher but building material costs shouldn't be that much different than the rest of the 48.

As to lake front property in central or northern Wisconsin, they aren't making any more it it and people with money to spend are panic buying.

 

[jaek]

People don't appreciate how crazy some tech salaries are these days. Plenty of two-income families bringing home over a million dollars a year. No new housing being built either, so either commute 45 minutes each way or pay half your salary for housing.

Some people think that remote work will change all this, but we'll see.

 

[MrWhoopee]

The significantly higher prices for homes in California has been a mystery to me for almost fifty years. I can see how land and lot prices may be higher but building material costs shouldn't be that much different than the rest of the 48.

As to lake front property in central or northern Wisconsin, they aren't making any more it it and people with money to spend are panic buying.

Location, location, location.