Re: Markets and employment

From: Spike Jones (
Date: Wed Dec 26 2001 - 10:24:29 MST

"J. R. Molloy" wrote:

> From: "Spike Jones" <>
> > If in Santa Clara county you would be describing a possibly million
> > dollar home. With the current depression, maybe mid to late 7s.
> In Shasta county, it would probably go for 100K...
> and that's after two solid years of inflated prices.
> Two years ago there were more than 1,600 homes for sale here.
> Now, there are less than 800, but you can still buy a home here for about 1/4
> of what the same quality would cost in the Bay Area.

Depending on the lot size of course.

In estimating the value of a house in Santa Clara, the actual size of
the house does not matter much, only the size of the lot it sits on.
This was especially true during the recent boom, since all the newly
minted dot com jillionaires intended to tear down the house anyway, and
build something else. Under those conditions a bigger house would
actually decrease the value of the property, since it would be more
trash to haul off. spike

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