patrick.net

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.

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.

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.

gee, I guess fundamentals do matter when it comes to valuations.

LarryPatrickMaloney says

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."

Goran_K says

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.

bmwman91 says

Nah man, that's the OLD paradigm. Profits don't matter now, with Web Economy 2.0! It's different this time.

I'm so glad people's memories aren't so short these days. Maybe we do have hope to return to some sort of non-bubble economy (I doubt it, but one can dream).

tiny tina says

LarryPatrickMaloney says

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."

People are now selling their homes on facebook and donating the 6% to the employees who bought homes in Palo Alto and are already underwater. ;)

is the lockout period 6month still? Any bets on where FB stock is going to be in 6months? I'm guessing teens...

Teens would be a good guess since they are trending towards mid-20s right now.

I guess some of these brokers aren't going to be going to the Hamptons for vacation this year.

Sertpentor,

I got an A- on my last Calculus exam...

wthrfrk80 says

Sertpentor,

I got an A- on my last Calculus exam...

GTFO

damnit pic attach doesn't work

Testing picture attachment...

Seems to work. How does it fail for you?

I hit choose file, selected a gif, then upload image, then submit comment. Only my comment shows up. Shrug

using chrome browser

When you hit "Upload Image" it should put some HTML in the comment box creating a link for your image.

Does it do at least that much?

ahh.. no it doesn't do that.