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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Lizzie Tudor who wrote (12796)8/21/2003 10:05:58 AM
From: GraceZRead Replies (2) of 306849
 
It is common in SV, certain areas like woodside. These were out in the boonies once. You could get an acre for 70K. Now it is the bedroom community for cisco founders and people like that.

Well there is your answer as to why real estate went nuts, not Prop 13. If it were just Prop 13 then it would be a consistent problem all over CA. You made them millionaires paying so much for the houses around them but you forgot you did that. You were able to do that because you had funny money from stock options and tech stocks.
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