Friday, January 21, 2005

Traffic is really starting to pick up hard in Silicon Valley. Is this a sign that thangs are starting to pick up here? That brings mixed feelings. It’s great that the economy is likely to rebound, but it sucks that San Jose still hasn’t figured out that it needs to provide affordable, non-ghetto housing. Letting the housing prices go up like this is just insane. Market forces be damned. This is no way to run a city.
Granted, housing prices did need to come up over the past decade to come in line with higher building costs. Now the housing prices have covered that many times over. There are townhouses now going for 700K. At this rate, they will be a million in a few years. Of course, I could just buy up a bunch older homes in an ok area of town, tear them down and build several million dollar townhomes on their lots for millions of dollars profit. Hmm. Then I keep thinking, what goes up must come down (excluding normal inflation, of course).

2 comments:

Mickey Glitter said...

Hey! I left a comment about your post last night and it's gone. =( I'm amazed at the housing costs - if I tried to buy my place today, I wouldn't be able to afford it. Hell, I wouldn't be able to afford the front door, let alone the entire chateau. Mind-boggling, the real estate market. If you leave the OC, you better make sure you never want to come back to live because you won't be able to get back in, or so popular wisdom says...

FCSuper said...

I looked at one builder's homes during my vacation down there. The prices are as ridiculous there as they are here.