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I would say that it is actually pretty rational to be willing to pay a significant premium on living close to where you work. If you save 30 min each way on your commute that's an hour of your life every day, what is more important that that?
It goes both ways. Everyone has their own value system. I'm one of those people who drives 30 minutes each way. On the other hand we pay $1,250 for our part of the rent for a 4 bedroom house with another housemate who is seldom if ever home. So when I go home I have a big back yard, an office, my own garage, and a spare bedroom even. The neighborhood we live in is also walkable. You can walk to town if you wanted. We have nice bike lanes too. As a result of this we've saved up a lot of cash. I know for fact that a 4 bedroom house anywhere near where we work would rent for double, if not more than what we pay now. To me that's not worth it and on top of that, I don't really like the Peninsula anyway.
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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