Los Altos Close to Palo Alto but Home Prices Still Way Too High

This isn’t just a weather report for Los Altos real estate. We all know the weather. It’s controlled by the temperature of the market in Palo Alto where the median price for a surprisingly underwhelming home purchase is $2.5 million. 

The problem of real estate prices and the new classes that creates in local culture is discussed in this video.

Silicon valley real estate overpriced and underwhelming

People come into this market with cash and say, “We want it. Get out of our way.” The rest get to pick from the leftovers which are often not very nice in this market.

Sentiment isn’t always in their favor either:

Why does someone feel entitled to permanent $700 rent while living in a multi-million dollar residence? The problem is the demand far exceeds the supply. Let’s say 10 million individuals strongly desire to live in a city with enough housing for only 1 million residents. Whether the government establishes rent controls or free markets determine the price, the sad reality is 9 million people are going to be extremely disappointed no matter what.

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looking at billions and billions in real estate in this one view in SF

gekkomauw