3 ms·

How so?

• mfringel 11y ago
  I believe the parent is talking about a bunch of people getting substantial liquidity events, and therefore having more money to chase scarce housing.
• ChuckMcM 11y ago
  Many times, when a bay area company IPOs, a number of people suddenly have a lot of now liquid wealth. (well depending on lock outs in 90 - 180 days) It is not uncommon for those people to want to get off the rent/mortgage treadmill and they will convert their stock into a house because stocks go up and down, but buying a house for cash means you always have a nice place to come home to. And that drives up prices as houses are already scarce.
  • brianwawok 11y ago
    How many people work for square?
    • ChuckMcM 11y ago
      Here is a different answer, Zillow[1] seems to think there are about 1,200 homes (approximately) are for sale in San Francisco. If 120 people buy homes for cash it takes 10% of the available inventory off the market. [1] http://www.zillow.com/homes/for_sale/San-Francisco-CA/pmf,pf_pt/20330_rid/1_pnd/38.011853,-121.444245,36.919705,-122.665101_rect/9_zm/ http://www.zillow.com/homes/for_sale/San-Francisco-CA/pmf,pf...
• doomspork 11y ago
  After Twitter and Facebook IPOs, there were bidding wars between home buyers that resulted in some homes selling for a million over asking price.