Land was cheap in the Santa Clara valley in the past. Huge portions were still orchards and farms that were selling out for new subdivisions. The issue is it's

Land was cheap in the Santa Clara valley in the past. Huge portions were still orchards and farms that were selling out for new subdivisions. The issue is it's a valley. There's no more open land unless you move impractically far away. Growth in any area will raise prices but here the issue was compounded by a lack of extra land available after the cheap land was sold.