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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsGoogle CEO Larry Page: Million Dollar Houses In Silicon Valley Should Only Cost $50,000
http://www.businessinsider.com/google-ceo-larry-page-houses-should-only-cost-50000-2014-11Google CEO Larry Page thinks houses in Silicon Valley are needlessly expensive.
He believes million dollar homes should be going for $50,000.
Richard Waters at the Financial Times interviewed Page, and reported the following:
Read more: http://www.businessinsider.com/google-ceo-larry-page-houses-should-only-cost-50000-2014-11#ixzz3HrXVZtcB
Retrograde
(10,156 posts)Google bought several houses in Palo Alto to house its visiting employees, taking them off the market and reducing demand.
I bought a low-priced, 900 sq ft house in Palo Alto nearly 40 years ago: it was over $100K back then. I agree, the prices are too high, but a lot of it is due to companies like Google that bring in high-priced workers.
unblock
(52,317 posts)just because he's rich doesn't mean he can't say something stupid.
codecus
(1 post)Page is arrogant and unrealistic or stupid to say silicon valley house should not cost $50k. May be he can say people's salary should not more than $50k in silicon valley.
Cleita
(75,480 posts)price in the 70s before the passage of proposition 13, which inflated the RE market to where it is today all because people didn't want to pay higher property taxes.
lpbk2713
(42,766 posts)They go for a million bucks because people like him will pay a million bucks.
lumberjack_jeff
(33,224 posts)Houses actually do cost $50k.
pnwmom
(108,994 posts)and get all the materials and the lot for free.
What a moron.
ileus
(15,396 posts)hunter
(38,326 posts)... right?
cemaphonic
(4,138 posts)I agree, no reason to pay $1m for a horse even in Silicon Valley.
The lot my house sits on has an assessment of about $150k, and it's a weird sloped lot that's close to a freeway, and also isn't in freaking Silicon Valley.