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According to Google Maps it takes two hours round trip to commute from Walnut Creek to Palo Alto by car and going by bicycle isn't practical.
But that goes both ways. It also takes 2 hours round trip to commute from Palo Alto to Walnut Creek by car and going by bicycle isn't practical. Now, given that the sili.con valley is on it's way out, they do have this little unknown city, with lots of jobs in the medical and banking professions, called San Francisco, which is only a 20 minute commute by BART from Walnut Creek and a 1hr+ commute in heavy traffic from Palo Alto.
According to Google Maps it takes two hours round trip to commute from Walnut Creek to Palo Alto by car and going by bicycle isn't practical.
Also, does that Google map also show you that the distance between Palo Alto and Walnut Creek, had suddenly gone up 5 times in the last 6 years? Does that have anything to do with Einstein's warped space theory?
Absolutely.
According to Google Maps it takes two hours round trip to commute from Walnut Creek to Palo Alto by car and going by bicycle isn't practical. It takes no time to get to PA proper and pretty much everything in the valley from San Jose to San Mateo is reasonable either way.
location location location
its so nice to be right in silicon valley :)
my friend who live in san ramon, spend $600/month just on gas to commute to work.
after bought that big 5 bedroom house, no more money to buy even a prius.
it is very funny.
location location location
chip_designer:
You must not be a very good chip designer if you have to pimp used houses for a living.
With FaceBook, Google, and Apple all hiring like mad, you will be waiting for a long long time for this "bubble" to pop.
They'll make up for the thousands of Yahoo layoffs in the works.
The question is not why Palo Alto is so much more expensive than Walnut Creek. The question is what made Palo Alto only 50% more expensive in 1998 and 2005, and 500% more expensive now. The ratio of valuation between Palo Alto and Walnut Creek went up 10 times in only 6 years. There are absolutely no fundamental reasons which could have caused this huge of a valuation difference.
Absolutely. Everywhere is relative. Pleasanton is worth more than Livermore, but if Livermore falls 50%, we can expect Pleasanton probably will too.
Palo Alto is fundamentally different today than in 1998 - more than WC, but 10x the gains is ridiculous.
Palo Alto is fundamentally different today than in 1998 - more than WC, but 10x the gains is ridiculous.
Yes, it was quite a bit different, fundamentally? In 1998, the sili.con valley was at the height of it's historic fame. With hundreds of new startups announcing their IPO's every year, and 10-20 jobs for every college graduate, it was definitely different than now. Now, you can probably find more homeless people than high-tech yuppies in down-town palo alto.
Now, you can probably find more homeless people than high-tech yuppies in down-town palo alto.
good point.
Don't forget that the groundwater in Palo Alto is definitely polluted with a known carcinogen:
http://www.paloaltoonline.com/news/show_story.php?id=22807
Steve Jobs lived right in the middle of it and died young of pancreatic cancer. Just one data point, but hmmm.
If the contamination is shown to really be causing a lot of cancer, that would definitely take prices in Palo Alto down.
One thing Palo Alto buyers share with Steve Jobs is the Reality distortion field and stern adherence to the self fulfilling prophecy. They would all move to Prypiat if it was hyped up enough as a property dreamland.
Also, 25 years isn't that long of a time as far as society & civilization are concerned. Maybe PA will remain expensive for as long as the USA exists, and maybe it won't. Just because it has been that way for a couple of decades doesn't mean it will.
No analogy is perfect. My point is simply price follows an exponential curve on everything, and that it's not a bubble when it last multiple decades (what is the official definition of a bubble anyways?).
I shouldn't have said Palo Alto will never change. What I meant is measured in our lifetimes it isn't likely going to change much. We don't have too many 25 years in our lives. Those with $ in the BA all want to migrate to Palo Alto, so it's just the natural reflection of the Silicon Valley economy.
If SV really goes down over the next 10-15 years, sure, you'll see a decline. Even then, Palo Alto will go down last. I was just pointing out that based on the current tech climate, I wouldn't hold your breath for it.
I was just pointing out that based on the current tech climate, I wouldn't hold your breath for it.
All the bulls just keep repeating the same mantra about how attractive PA is, and how desirable it is, but nobody would dare to answer my question: How did PA become 5 times more desirable relative to another desirable city like Walnut Creek, in just 6 short years?
With FaceBook, Google, and Apple all hiring like mad, you will be waiting for a long long time for this "bubble" to pop.
They'll make up for the thousands of Yahoo layoffs in the works.
East Bay Real Estate Agent and Blogger
Normal rise & fall. I just don't see how you guys think Palo Alto is goig to crash any time soon with FB, Google & Apple surrounding it.
I shouldn't have said Palo Alto will never change. What I meant is measured in our lifetimes it isn't likely going to change much. We don't have too many 25 years in our lives. Those with $ in the BA all want to migrate to Palo Alto, so it's just the natural reflection of the Silicon Valley economy.
Actually there are many great places outside of PA and in BA... Marin for one which historically has always been a more expensive even before the pre-bubble years. With enough $M you can move to Carmel and SLO..
One thing Palo Alto buyers share with Steve Jobs is the Reality distortion field and stern adherence to the self fulfilling prophecy. They would all move to Prypiat if it was hyped up enough as a property dreamland.
Exactly! and if the distoration field starts to fail, im pretty sure someone will come up with another hyped IPO to cash out and fleece the public. Bernie Madoff should of left NYC years ago and set up his ponzi scheme in SV.. 'cause it ok around here.
How did PA become 5 times more desirable relative to another desirable city like Walnut Creek, in just 6 short years?
Maybe if FB was headquartered in WC,maybe if all the venture capital offices had moved to WC, maybe if Zynga/twitter/hot dot com had moved to WC...
another hyped
there are many things that are hype.
santana row is a hype, why do people go there, and to make endless lines on pinkberry, which is another hype.
iphones and ipads is all hype, because people are sheep, they all have the "me too" mentality.
Normal rise & fall. I just don't see how you guys think Palo Alto is goig to crash any time soon with FB, Google & Apple surrounding it.
You could of said the same about.. ARIBA back in 1999-2001... spit twice before IPO and spit afterwards. From $600 /sh to under $5/sh.
So why not talk about Cisco ? well Cisco, like every other IPO before the bubble, was never overvalued when it did its IPO.
Want to show stock appreciation... They had to EARN IT for a stock to up 1%. Yes.. EPS did matter.
Normal rise & fall. I just don't see how you guys think Palo Alto is goig to crash any time soon with FB, Google & Apple surrounding it.
Because, in order for prices to keep going up from these unsustainable levels, new FB's, Google's and Apple's need to be created every year, and very soon, enough people are going to be burned from buying their stocks, that nobody would want to invest in high-tech startups any more. At some point, it would be cheaper to keep the companies private than IPO'ing them.
Maybe if FB was headquartered in WC,maybe if all the venture capital offices had moved to WC, maybe if Zynga/twitter/hot dot com had moved to WC...
But in San Francisco we have Wells Fargo Bank & Bank of America & many more large financial institutions, not some fly-by-night operations like FB. FB is here today, but gone tomorrow.
venture capital offices had moved to WC,
BTW, VC funding is less than 10% of what it was back in 2000. So, I still didn't get the answer to my question. I will repeat. How did PA become 10 times more attractive, relative to WC in the last 6 years?
venture capital offices
VCs already have offices globaly. They also invested in Dell, Texas Instruments, IBM, Compaq, DEC, and plenty more are outside of SV.
VCs are not some huge bank with zillions of cash in a magical hidden vault located in SV. The money comes from various various wealth people.. as far as Asia, Middle East Oil Money, and Europe. VCs actually have to travel to come up with the cash they spend.
I will repeat. How did PA become 10 times more attractive, relative to WC in the last 6 years?
maybe about the time when you moved to WC? =)
maybe about the time when you moved to WC? =)
I don't need to. As long as I don't buy in PA, or anywhere close to it, I'd be fine.
hot dot com
I think you are about 12 years behind the times with your "hot dot com" statement.
dunnross says
FB is here today, but gone tomorrow.HA HA!
Sun, National Semi, Unngerman Bass, Amdahl, Conners, 3Comm, Adaptec and the list goes on.
Maybe some of us who worked here back in the early years
arnt some immature cheerleader hyping without regard to risks.
Sun, National Semi, Unngerman Bass, Amdahl, Conners, 3Comm, Adaptec and the list goes on.
yes, i agree. sorry about it, i forgot. Also silicon graphics, S3, nortel, nexgen, cray computer, nothing is forever, newer technology will always prevail. Before FB came around, myspace already had the concept , how come FB killed myspace? Anyway, even if FB is gone tomorrow, another new hyped company will take its place, and that will most likely happen in PA or around silicon valley.
another new hyped company will take its place, and that will most likely happen in PA or around silicon valley.
You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time.
Abraham Lincoln, (attributed)
16th president of US (1809 - 1865)
You could of said the same about.. ARIBA back in 1999-2001... spit twice before IPO and spit afterwards. From $600 /sh to under $5/sh.
So why not talk about Cisco ? well Cisco, like every other IPO before the bubble, was never overvalued when it did its IPO.
Want to show stock appreciation... They had to EARN IT for a stock to up 1%. Yes.. EPS did matter.
Not sure what your point is. No company is always on top all the time.
What's wrong with Cisco? Market Cap still > $100B, still a major employer in the valley. Apple & Google are both in the top 20 IN THE WORLD in market cap. Add to that Oracle, Intel, HP, Cisco, Ebay, and I'm sure I'm forgetting a few. Facebook may come & go, but it's coming right now, and not going away for a few years at least.
> How did PA become 5 times more desirable relative to another desirable city like Walnut Creek, in just 6 short years?
I'll repeat my point again:
1) Pricing are on exponential curve. Be it houses, cars, wine, or watches.
2) Palo Alto is the creme of the crop of BA. You don't have to appreciate it, but the prices just reflects the total amount of wealth in SV. Why do you feel 5x more than WC is unreasonable & unsustainable? I don't see any large growth in companies around WC?
3) You cannot claim it to be a bubble if it's lasting decades.
I don't live in PA, I don't particularly appreciate PA. I was in the same boat as all of you 15 years ago and decided there is no point paying a premium to live in PA. Obviously, looking back, I would have been better off if I had bought there (both financially, and kids education wise).
Anyways, I stand by my statement given the number of large corporate giants still expanding around PA, I don't see PA prices going anywhere but up (or sideways) for the next 5-10 years. If you are waiting for the "bubble" to pop, be prepared to wait a long time.
Not sure what your point is. No company is always on top all the time.
What's wrong with Cisco? Market Cap still > $100B, still a major employer in the valley. Apple & Google are both in the top 20 IN THE WORLD in market cap. Add to that Oracle, Intel, HP, Cisco, Ebay, and I'm sure I'm forgetting a few. Facebook may come & go, but it's coming right now, and not going away for a few years at least.
Its about valuations inline with earnings.
1) Pricing are on exponential curve. Be it houses, cars, wine, or watches.
2) Palo Alto is the creme of the crop of BA. You don't have to appreciate it, but the prices just reflects the total amount of wealth in SV. Why do you feel 5x more than WC is unreasonable & unsustainable? I don't see any large growth in companies around WC?
3) You cannot claim it to be a bubble if it's lasting decades
Bubbles can last a long time.. 10 years isnt unusual, see Japan.
But they eventually end.. countless migrants believing the above statement continue to believe, but get disappointed.
Actually pre-stock bubble, Marin had a higher median price.. Belvedere Island itself is well beyond what you get than PA.
Tired sitting at home, take a spin in your boat parked in the back? how about a spin around the bay some Saturday afternoon... Can you do that in Palo Alto ?
If you are waiting for the "bubble" to pop, be prepared to wait a long time.
I bought my home in Los Gatos back in early 90s.. had it since.
Bubbles have undesired consequences.. and they are not pretty.
Had you lived here in SV and had your career over the last 30+ years you understand the blow backs.. not pretty!
Anyway, even if FB is gone tomorrow, another new hyped company will take its place, and that will most likely happen in PA or around silicon valley.
Is that a guarantee ... hope you have deep pockets to pay out if you lose. No one who has worked here buys into that crap!
Google, Facebook, Yahoo, and some other are Advertising companies, not tech companies.
Anyway, even if FB is gone tomorrow, another new hyped company will take its place, and that will most likely happen in PA or around silicon valley.
Is that a guarantee ... hope you have deep pockets to pay out if you lose. No one who has worked here buys into that crap!
Google, Facebook, Yahoo, and some other are Advertising companies, not tech companies.
Totally agree. The difference though is in how much relevant data they have on their users. Directed marketing is a huge money saver to companies. It is the same reason why almost ever retailer has their own store card now. Safeway makes a tonne of money just collecting and selling the data on each of us. When you get them coupons on your receipt giving you a 2-for-1 on the extra-large condom packet, you know you have been profiled. :)
I just became a Dad for the first time and the ads I see now are completely about that change in lifestyle. Google, Facebook, Yahoo know more about me than most of my friends. After seeing that switch I am reducing my "being watched" time. I love good technology, but I dislike being profiled even more.
Google, Facebook, Yahoo, and some other are Advertising companies, not tech companies.
Advertising is a derivative business, and will never generate as much revenue as selling directly to the consumer. In a recession, advertising budget is the first thing companies cut.
Google, Facebook, Yahoo, and some other are Advertising companies, not tech companies.
Well said.
Google, Facebook, Yahoo, and some other are Advertising companies, not tech companies.
The tech companies are hiring too just ask Apple
maybe about the time when you moved to WC? =)
I need to hit the WC...and fast. That breakfast burrito and coffee was a BAD combination...
And just what will happen when interest rates start returning to historical norms? Or.. do Bay Area realtors tell you interest rates will drop for next 30 years....
Realtors are more crooked than lawyers.
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Facebook Millionaires Are Already Driving Palo Alto House Prices Into The Stratosphere
Henry Blodget |
Read more: http://www.businessinsider.com/facebook-palo-alto-real-estate-2012-3#ixzz1oSWshPmv
http://www.businessinsider.com/facebook-palo-alto-real-estate-2012-3