Saturday, October 17, 2015
Million Dollar Shack-trapped inside the Silicon Valley's Housing Bubble.
Check out this compelling story about the frustration to find an affordable home in the Silicon Valley by an average middle class family. Will Marin be next? I can't help but think so. Google is rumored to have purchased the old Fireman's Fund building in Novato for a satellite office. Could other tech firms be close behind?
Although this will mean the rise of our home prices, it will also price more middle class families out of the market. It seems like all we are building in Marin is luxury homes and tax subsidized homes for low income workers. The middle class has no where to go. And the moderate and middle class homeowners may be well pushed out of their homes through rising taxes for these massive subsidies to non profit developers.
$500k investment buys you citizenship in the USA.