The biggest concern we have in housing right now is the rapid decline in affordability. Less and less people can afford to buy a median priced home which is the bedrock of the middle class dream. When the middle class loses hope, that is when society is at risk.
I do these videos about the most expensive and the least expensive homes to sell in Silicon Valley. It’s fun. People are curious. Mindless entertainment.
But today, as I was doing this video, I was taken aback about the absurdity of the two extreme homes to sell last week.
These two homes are 20 miles apart, in the same county and closed in the same week. Two happy Homeowners, but with different perspectives on world views.
Home buyer 1.
An equestrian estate with a 6000 sf home on 9 acres with a 10 stall barn for prized horses and an open arena to ride and train. 3 separate apartments on the complex for guests/trainers of horses.
Paid $33.5M
Imagine their lifestyle
Home buyer 2.
A somewhat outdated studio condo 450 sf.
Paid $320K.
More than 100X in selling price. Imagine the lifestyle
They both could run into each other at Costco without knowing the absurdity of their respective transactions.
Affordability is the biggest issue we face today. We have to build more affordable homes.
#affordablehousing #siliconvalleyrealestate #siliconvalley #bayarearealestate
