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Pastimes : Let's Talk About Our Feelings!!! -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (66886)	12/16/1999 6:26:00 PM
From: Ilaine	Respond to of 108807

I think it was posted as an example of how strange valuations are getting in Silicon Valley these days. Of course, it's all supply and demand when it comes to houses. If you need a house, and you've got the money, and that's all there is, well, what are you going to do? Pay a million for a three bedroom house with one bathroom? Maybe. I assume the buyers will do a tear-down, and put something newer and bigger on the lot. But the last two California real estate booms were followed by real estate busts, people who bought at the top had to sell for fifty cents on the dollar at the bottom. Of course you can't extrapolate to the rest of the country, there are organizations that keep careful track of housing prices, like the National Association of Realtors, and the data for the rest of the country is nothing like that.