A few years back I was visiting my little sister in Nowhere, Indiana. That's not the real name of the town where she lived but I don't want to offend the people who are still living in her city, um town, er village, uh hamlet. My sister has since moved on.
Comparing Silicon Valley Home Prices to Nowhere Indiana
We were talking home prices. When she told me what they paid for their home, it occurred to me that I could buy the ENTIRE street she lived on for the price I paid for my one little 1100-ish square foot single-family home in Sunnyvale, CA . That's the real name of the city where I live. Her house was nearly twice the size of mine and their lot was 3x bigger ... or more. Who's really measuring anyway?
They asked me how many acres I owned. My wife and I laughed out loud. You need to move right several decimal points and multiply by one to get the answer. I don't even know what it came to now.
Housing Prices UP 50%
Oh ... and the value of my house has (as of 2/29/16) increased in value by more than 50% since we had that talk. Now, I might be able to buy the whole town. Not really. But I could buy a couple of streets full of houses now instead of just one.
So, why ain't I happy?
- I have to pay more for land taxes each time the local government bean counters are told the local government needs more money, and they, the bean counters, in turn tell me I need to pay more. It costs me more each year to live in the same place.
- Unless I want to do the 2nd mortgage thing, my house's value doesn't matter unless I sell it or borrow on it. But then I'd have to pay the money back or move. And I can't afford to move unless I go back east to be near my family. But then I'd be in Indiana and have to deal with a lot of other drama!
- LinkedIn and Apple have taken over our neighborhood. LinkedIn purchased a corner nearby in one direction and #Apple purchased another property about the size of 4 Lowe's, including the parking lot. My home value continues to climb. See number 1.
The good news is I can plug in my lawn mower and reach the entire property. The bad news <smirk> is all that year-long sunshine really makes my lawn grow. #Google