“Home prices in the Bay Area of California are already crazy expensive, but the houses built near Apple’s recently opened spaceship campus are setting a new bar,” Chris Morris reports for Fortune.
“The already red-hot real estate market has gone molten in Sunnyvale, with a two-bedroom, one-bath home near the campus setting the city’s all-time record price per square foot,” Morris reports. “The owner had planned to ask $1.45 million for the home, but before they could even officially list it, a private buyer put in a bid of $2 million. That works out to $2,358 per square foot.”
“While this transaction may have set a local real estate record, expect that record to fall soon,” Morris reports. “There are plenty of homes very close to Apple Park—and as news of the price per square foot spreads, that could spur people to consider a move.”
Read more in the full article here.
MacDailyNews Take: There’s more real estate craziness to come!
SEE ALSO:
Sunnyvale neighbors call Apple’s spaceship campus a ‘constant hell’ – August 22, 2017
Apple disrupts Silicon Valley with another eye-catcher: Apple Park – July 5, 2017
Bubble bubble toil and trouble. All balloons eventually find a pin.
Even Cali Real Estate.
And yet…
We cannot keep covering arable land and pastures with subdivisions and roads. If the population density does not rise in proportion to the population growth, then we are going to pave America and completely destroy what remains of our ecology. This is not a “snowflake” statement – it is a conclusion driven by mathematics, which always wins in the end.
Southern California used to be a very nice place. Personally, I do not care to visit that are anymore. The traffic and crowding is terrible. The LA basin is representative of the inevitable failure of a futile attempt to extend a suburban lifestyle to tens of millions of people working (and mostly residing) within a confined geographical area. For many years, people have been living outside of the basin and commuting for hours each day to seek affordable homes in Palmdale, etc. That just contributes to the sprawl, traffic, and pollution. It is also highly inefficient and wasteful.
I believe that the natural extension of your argument is that San Francisco-Oakland has many similarities to LA. Many people who work there cannot afford to live there or afford cars. But the available mass transportation is not necessarily a good alternative, resulting in a multi-hour commute each way, each day. It is not a good way to live.
California ranks last in the union in quality of life.
https://www.usatoday.com/story/news/nation-now/2018/03/01/california-ranks-last-quality-life-new-report/384853002/
https://www.mercurynews.com/2018/02/28/california-has-the-worst-quality-of-life-study-says/
Not if you live in Santa Monica.