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Given you can't buy a house under $1M in pretty much all Silicon Valley by now, how rare it is? There are tons of houses and somebody buys them. So unless that'
by smsm42 8y ago
Given you can't buy a house under $1M in pretty much all Silicon Valley by now, how rare it is? There are tons of houses and somebody buys them. So unless that's a dozen people who are buying all the houses - which I don't see the evidence of, e.g. lots of empty houses or massive rent/own ratio shift - somebody is doing well enough to buy those $1M houses.
- TeMPOraL 8y agoInvestors using them as store of value / for rent income, instead of a place to live?
- smsm42 8y agoThere should then be people that a) can afford $1M investment and b) can afford rent prices that justify $1M investment.
- yifanl 8y agoHousing is simultaneously a necessary good and an investment opportunity. As soon as someone realizes this, you can practically see the dollar signs light up in their eyes.