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Real Estate Matters: A look back and a glimpse ahead at the local market

Original post made on Jan 6, 2020

This year, both Menlo Park and Los Altos had a double-digit increase in the number of new listings and transaction volume, while those numbers dipped in Palo Alto.

Read the full story here Web Link posted Monday, January 6, 2020, 9:03 AM

Comments (4)

Posted by Mike
a resident of University South
on Jan 6, 2020 at 7:14 pm

Only someone in the real estate industry would refer to this as a "strong market". Most of us call it unaffordable and a disaster for things like: affordability, income inequality, ability to hire and retain local workers, making sure our children can stick around after college, etc. Rents have increased significantly too. We need to build more housing so that Palo Alto isn't only for the multi-millionaire class.

Posted by musical
a resident of Palo Verde
on Jan 6, 2020 at 9:54 pm

All those in favor of lowering property values say aye!

Posted by charles reilly
a resident of another community
on Jan 7, 2020 at 4:30 am

During the Recession, I realized that I was working for the same pay I received 30 years ago. My job skills had not kept pace with the market. But, many, many couples here on the Peninsula earn $200,000 or more per year. These folks work hard and have a great education. The white middle class needs to stop feeling sorry for itself and quit wishing for the 1970's. Take a night class; crack a book ....

Posted by Please lower property values
a resident of South of Midtown
on Jan 7, 2020 at 6:13 pm

Please lower property values is a registered user.

@musical, I would be more than happy to have lower property values. I've owned a home here for ten years. If the value went back to what I paid for it, that would be fine with me. We all suffer from the stratospheric home prices in this town. I paid $425/month for a room in a shared house when I first moved to Palo Alto decades ago. I am pretty sure that is no longer doable. That to me is sad.

I realize that lower property values would be tough on some people. But it is not the case that we are all in this to make a buck. I'd trade quality of life for a high-priced house here any day.

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