Quote:
Originally Posted by Wayne 962
Comparing a house that sold in Sunnyvale, CA (the heart of silicon valley) to the rest of California, is typical headline blather from the LA Times. I cancelled my subscription years ago, yet they still insist on sending me the Sunday paper once and a while (like two days ago).
The laws of supply and demand dictate the housing prices, especially in silicon valley. It's Google and Apple and the rest of them that have driving up the pricing. A side-effect of successful companies?
-Wayne
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True, that is a very unique area even in California.
I track prices, I see lots of houses in desirable areas in California (for example, Newport Beach) that are sitting for literally a year, with prices being lowered. I'd say the market has cooled in many (or most) areas in California in the past year.