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To: BGR who wrote (37250)	6/2/2000 10:29:00 AM
From: wlheatmoon	Read Replies (2) \| Respond to of 42523

BGR, not true. homes are expensive every major metropolitan area. but yes, the silicon valley and nyc are two extremes. mike

To: BGR who wrote (37250)	6/2/2000 10:59:00 AM
From: flatsville	Read Replies (1) \| Respond to of 42523

>>>Only in the Bay area. The US economy is bigger than that, and companies are already relocating to other places.<<< Telecom techs are moving into the Petaluma area because housing in the immediate Bay area is unaffordable for most of their rank and file employees and bringing housing inflation with them. A friend went to an "Open House" listed in the paper at $275k two weeks ago Sunday in the Santa Rosa area. She pulled-up to a rather crappy mid-1970's ranch on a small lot. By her raised in the Midwest standards she felt compelled to pull away from the curb ASAP. But then again 10 years in CA warps you're perspective...and 275k for a crappy 1500-1750 sq. ft. frame ranch looks like a deal... Not to mention she appeared to the the first person there and she was pre-approved. As she went up the walk a woman opened the door and asked if she was there because of the ad. She responded that yes, she was there for the open house. The woman responded that there had been a misprint. The asking price was actually $375k...At that point she did drive away. They are also bidding higher than asking price in that area. So this is happening well outside of Silicon Valley and the immediate Bay Area. In secondary Midwest cities (as opposed to Chicagoland) outrageous asking prices are not uncommon. I've seen it myself. Part and parcel of asset inflation and more widespread than you think.