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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Lizzie Tudor who wrote (12912)8/22/2003
From: MulhollandDriveRead Replies (1) of 306849
 
excuse me, but aren't you a real estate "investor"?

no one ever twisted anyone's arm and forced them to bid up a particular property at the height of the bubble in SV.

but that is exactly what thousands did.

there's not entitlement to live a short commute away from business....if the properties that were in Palo Alto were scarce due to investors buying them up for rentals, your beef should be with the businesses that converged onto the same location with no real thought for the affordability for the people who work for them or quality of life wrt housing (meaning if they located business in places where the workers couldn't *afford* and were therefore forced further out with a long commute)

if you want to look at idiocy of the period, you might want to start there

and i'm sorry but i don't buy the argument that they "had to be there" because stanford and berkeley are there..here's a list of the top ranked engineering schools in the country.......and stanford and berkeley are at the top along with MIT, but as you can see, the list is populated with excellent universities in all parts of the country.....honestly....it was just the *easier* thing to do at the time...it certainly wasn't very forward looking when it came to the housing crunch that would ensue .

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