Facebook Employees Jack Up Palo Alto Real Estate 60%
Facebook Co-Founder and Chief Executive Officer Mark Zuckerberg bought a $7 million home in Palo Alto, California, last year, and many newly rich employees of the social network are looking to follow in his footsteps, causing real estate prices in the area to rise as much as 60 percent over the past six months.
Facebook Co-Founder and Chief Executive Officer Mark Zuckerberg bought a $7 million home in Palo Alto, California last year, and many newly rich employees of the social network are looking to follow in his footsteps, causing a dramatic upturn in that city’s real estate market.
Silicon Alley Insider reported that the housing market in Palo Alto is experiencing a serious boom, with one resident saying that prices have soared 30 percent to 60 percent over the past six months.
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