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They Can Always Sublet Out A Closet For A Few Grand A Month
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I've told you how insane the housing market is in California, and it's especially insane in Silicon Valley, where... well, here's an example, a nondescript suburban Sunnyvale house that was insanely overpriced at $1,688,000 and sold... for $782,000 above the asking price. Seriously, it's a small house, and the buyers, a tech couple who'd lost out on other houses and was determined not to lose this one, bought it for $2,470,000. The Realtors say that the tech people are using stock options to pay incredibly inflated prices to live there. Again, where are the people who work at stores and coffee houses and gas stations and schools and everywhere else in town supposed to live if they don't have a stash of stock options to use? (San Jose Mercury News)
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