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).