I live in Silicon Valley. The real estate situation is insane. A 1,300 sq foot home across the street (3 beds/2 baths/old-ish kitchen) just sold for $2.2 million, $400k over asking. TWO POINT TWO MILLION DOLLARS.https://twitter.com/kimmaicutler/status/938466154544320513 …
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A good story assignment would be to profile / map the number of residents per housing unit by city. The empty-nest boomers are rattling around in their big houses.
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These aren’t big houses, at least not where I live. They are fairly modest—but hugely overvalued. Boomers are waiting to sell because the market keeps going up.
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