$ 1,988,000 buys you basically a shack in Palo Alto CA

[CrazyTrader55]

The title is self explanatory. No way, no how is this house worth this kind of money. Something has to give at some point. Obviously Palo Alto is in a wealthy area but houses seem to be overpriced just about everywhere. And, then there are rent costs to be discussed.

 

[citygator]

Your first foray into real estate? The land is worth whatever someone will pay. I didnt click but it’s obviously a tear down for someone who wants to build on it.

 

[CrazyTrader55]

Your first foray into real estate? The land is worth whatever someone will pay. I didnt click but it’s obviously a tear down for someone who wants to build on it.

It's not obviously anything other than a rip off.

That house is half the square footage of my own modest house, which cost me all of $70,000 about 20 years ago.

Personal finance needs to be a mandatory course in the high schools.

 

[The Duke]

The title is self explanatory. No way, no how is this house worth this kind of money. Something has to give at some point. Obviously Palo Alto is in a wealthy area but houses seem to be overpriced just about everywhere. And, then there are rent costs to be discussed.

Is it on top of a 4-story deep bunker that's almost the size of the lot??

 

[Mr Natural]

The three most important things in real estate:

Location, location, location.

 

[citygator]

It's not obviously anything other than a rip off.

That house is half the square footage of my own modest house, which cost me all of $70,000 about 20 years ago.

Personal finance needs to be a mandatory course in the high schools.

Still confused by real estate i see. The houses next door are worth $5M+.

 

[Mack Brazile]

The title is self explanatory. No way, no how is this house worth this kind of money. Something has to give at some point. Obviously Palo Alto is in a wealthy area but houses seem to be overpriced just about everywhere. And, then there are rent costs to be discussed.

People who live in Cali and NY are so ******* stupid. 1 story ranch 1 bed 1 bath 1.8 million in crime infested areas.

 

[SweetTea]

Still confused by real estate i see. The houses next door are worth $5M+.


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Exactly why I would never live in CA or many other blue cities or states. The standard of living is far lower there. For 5 million in my area, you live on a beautiful golf course or lake in a very, very nice home surrounded by other very nice homes and very nice amenities. Unfortunately, people from blue states have started to figure that out which is why my area is one of the fastest growing in the nation.

 

[Marener]

Exactly why I would never live in CA or many other blue cities or states. The standard of living is far lower there. For 5 million in my area, you live on a beautiful golf course or lake in a very, very nice home surrounded by other very nice homes and very nice amenities. Unfortunately, people from blue states have started to figure that out which is why my area is one of the fastest growing in the nation.

Not everyone wants to live in suburbia. I never would. I can't stand HOAs and the lack of character in those neighborhoods. Not only that, but the economic opportunities in a place like the bay area are tremendous.

 

[Zincwarrior]

The title is self explanatory. No way, no how is this house worth this kind of money. Something has to give at some point. Obviously Palo Alto is in a wealthy area but houses seem to be overpriced just about everywhere. And, then there are rent costs to be discussed.

To those who never took a basic economics course, a price is determined by the intersection of supply and demand.

 

[1srelluc]

It's the cost of the lot....Not the dwelling.

.25 acre in-town building lots in my AO are 90K+.

 

[Harry Dresden]

People who live in Cali and NY are so ******* stupid. 1 story ranch 1 bed 1 bath 1.8 million in crime infested areas.manywealthy people in california

many wealthy people in California live in some pretty nice areas along the coast and as long as they have money they aint going anywhere,,,,,the city of Garden Grove has normal size houses built in the 1950's that go for 700 thou to just a little over a million bucks....and they look like they are 70 years old....

 

[CrazyTrader55]

To those who never took a basic economics course, a price is determined by the intersection of supply and demand.

Economics is different than personal finance.

 

[CrazyTrader55]

Anyone think that California's open border policy might be partially responsible for these prices?

 

[Blaster]

California real estate is ridiculously expensive.

 

[Moonglow]

A city block lot in Bentonville, AR, valued at around $750,000-$ 1 million.

 

[Moonglow]

California real estate is ridiculously expensive.

It is also here in NW Arkansass...

 

[citygator]

Exactly why I would never live in CA or many other blue cities or states. The standard of living is far lower there. For 5 million in my area, you live on a beautiful golf course or lake in a very, very nice home surrounded by other very nice homes and very nice amenities. Unfortunately, people from blue states have started to figure that out which is why my area is one of the fastest growing in the nation.

But you would be in a crappy location. Location is everything.

 

[my2¢]

Nobody is holding a gun to the head of purchasers of Palo Alto real estate so what's the problem?

 

[SweetTea]

But you would be in a crappy location. Location is everything.

No, not at all. This "crappy" location would be where people come on vacation to get away from the crappy places they live and work.

What a dump and in a "crappy" location on the Gulf, right? Oh yeah, and no state income taxes. And BTW, this one is actually very expensive due to being in Naples. You can get much nicer on the Gulf just a few miles North.

https://www.zillow.com/homedetails/279-Heron-Ave-Naples-FL-34108/103081039_zpid/