Michael Cooney
Senior Editor

Google sets off Calif. real estate frenzy

Opinion
Jul 14, 20051 min

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As if housing prices in California were not already insane, imagine finding a house, loving it and getting into a bidding war with new millionaires from Google.

If you’re opposed to such shenanigans, don’t look to buy in Atheron, Calif., an exclusive little haven in Silicon Valley near Google HQ where prices are going through the roof thanks to Googlers cashing in their stock.

“I estimate 25% to 35% of recent upper-end home sales, meaning sales over $7 million, are from Google people,” says Tom Dallas, a local broker.

The Wall Street Journal says: “More than half a dozen Google employees have bought Atherton houses for between $3.5 million and $17.8 million since September.”

Click here for a story on a problem you and I will never have to worry about.

Via Obscure Store