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inflection point
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2012 May 20, 12:37pm
The feedback I have gotten from a colleague trying to find a house from Palo Alto to Belmont is that homes are moving briskly and there is little inventory.
Lets see what Facebook options are worth in 6 months.
tdeloco
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2012 May 20, 3:55pm
My guess is that it is related to the HP layoff of 30,000 people: http://www.nytimes.com/2012/05/18/technology/hewlett-packard-plans-job-cutbacks.html
Their HQ, which just recently moved to Palo Alto, was in Cupertino for the longest time. No doubt, many of their employees still live in Cupertino.
RentingForHalfTheCost
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2012 May 20, 11:28pm
30,000 people is nothing compared to the 1000 millionaires Facebook will make. We all now that everyone needs 300 houses when they make it rich. Also, in 6 months and FB is single digits, will the insiders be spending or frugal? hmmm
Facebook down 8% this morning.
It is not just Facebook.
There are lots Facebook similar companies are planing to go public if Facebook stock double or triple.
Now the dream is over.
notice a gazillion For Sale Signs
According to redfin.com there are 33 homes for sale in Cupertino right now. I guess we have different definitions of a "gazillion."
bmwman91
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2012 May 21, 7:08am
gee, I guess fundamentals do matter when it comes to valuations.
Nah man, that's the OLD paradigm. Profits don't matter now, with Web Economy 2.0! It's different this time.
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Family and I drove through Cupertino today, and notice a gazillion For Sale Signs. I think people were holding back from selling, waiting for the FB IPO.
Well, the IPO happened, and I see a hoooo bunch o houses for sale.
Anybody else notice this in other parts of the BA?