Million Dollar Homes

A million dollar home isn’t what it used to be according to an article at

The surge in high-end prices has happened quickly. The Census Bureau’s 2004 American Community Survey found 1,034,386 homes worth at least $1 million in 2004, compared to 595,441 in 2002 and only 394,878 in 2000.

I know this is the case with my mom’s house in the Silicon Valley of California. Homes on our block have been selling for $1 million or more and there certainly isn’t anything spectacular about them other than being in a “good location” – mind you these are track homes that are 30 years old that happen to be in a good school district, but don’t have any views of any kind. If I’m going to buy a million dollar home, it would have to look a lot better than the one I grew up in.

This all means that I won’t be moving back to the SF Bay area when I return from Japan. My sister and her husband who live in San Francisco (they rent) at the moment are looking to move out because they can’t afford to purchase a house there.

I was talking with my dad about prices in the SF bay area and I think you’d be hard pressed to find a home with land in the Santa Clara Valley for under $500,000. I would be surprised if there are more than a few and imagine they would be major “fixer uppers” Housing prices are really quite crazy in that area.

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One Response to Million Dollar Homes

  1. linda says:

    I couldn’t agree more. You pay hideous amounts of money for basically not much in, i’m afraid, most of California due to it being the most populous state in the union. No one really knows just how many people are actually in the state due to heavy immigration over the last 30 or so years. Too many people – too little space. Developers cramming little mole hole units into huge development buildings which are spread all over the state and they have the nerve to call these wharehouses “apartment homes”. Ordinary nothing houses on virtually NO land going for a million – patently absurd. A nothing house going for a million in California would be a palace in most other parts of the country with all kinds of spacious rooms and property.

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