Tech Boom Makes Housing Prices Soar in Silicon Valley
Rise in stock values flood the market with money
U.S. home values are currently at an eight-year low, but in Silicon Valley, it appears that the recent tech bubble could be creating a housing bubble, too.
Money from the recent boom in tech IPOs and private stock sales is spilling over into the real estate market in the cities south of San Francisco, where newly wealthy tech employees are bidding up home values, Bloomberg News reports.
In Palo Alto, home of Facebook, the median selling price of single-family houses climbed to $1.63
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