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The premium in school district like Fremont Mission and Cupertino is more like 200K - 300K, not 500K-1M.
My 500K-1M is for Palo Alto. Frankly even in Cupertino, prices dont justify education value.
I should know, i went to Fremont High School. Grammer schools have little value. HS is where
it makes a difference. This has been true for decades.
I knew many who went to Cupertino, Homestead, Palo Alto HS and private schools. I knew parents who lived in average homes on average incomes in Fremont, Morgan Hill, Sunnyvale send their kids to Bellarmine and St Francis, which turned out far better move compared to public schools. Today its a no brainer!
Where was this educational premium before the bubble? There wasnt one!
If you talk to enough Indian engineering friend, you will learn that they had to be the best of the best to even make it to the the top university in Delhi, so there was no chance to relax and medicore grades means drop out.
Why would I want to talk to Indian or Chinese engineers ? If you really look back at in our local industries for decades, it was driven not by some top universities from Delhi or Bejing. Frankly the many who have driven our SV success story decades ago came locally from San Jose State, Fresno, Chico, and Santa Clara U (not the top 10) and were your medicore students. Someone with 10-15 years of local experience is worth a lot more over any top 10 top foreign university anyday.
Frankly is difficult to actually get a background check of education from Indian/Chinese Universities or former foreign employers. That is why many who come here have to get a US degree to begin with.
They start from scratch and start their career at the bottom.
In my functional area Accounting, a degreed foreign accountant who learned Indian or Chinese GAAP is worthless, because they never learned US GAAP/SEC requirements. So why should I hire one?
Whether private school is in fact better is really subjective.
Its not difficult to find costs and graduation percentages of private schools. Its publicly disclosed
and well know for decades by locals. You sum the cost of homes (outside of Cupertino or PA) plus disclosed private school costs and compare to living in 'fortress areas'. Lets say, compare living in South San Jose, Blossom Valley + Private school costs and home values in Cupertino. See what you get. Too many people are pinned on Palo Alto and Cupertino. You know, there is a life outside of Cup and PA.
The fact that there was no premium is irrelvant. I can safely say at least 75% of buyers in Cupertino and Fremont Mission do so because that is in lieu of private school. For two kids, that is about 2K a month. That premium is real and legitamite to a lot of family with kids.
At the end, its all hype. Bubble chasers using their children as their excuse to overpay.
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In watching some of these housing shows I keep hearing this brought up time and again. Some room to "entertain" now maybe I could see that back in I dunno maybe the 20's if someone had no tv or radio. It's 2010...things happen 24/7 it get harder to get people together so the argument of "entertaining" is someone lost. If you are a grown adult seriously would anyone go to a house to get "entertained"? More importantly they didn't say as to what this was defined as...a room for a big tv ? electronics always go down in price not up....stereo systems? mp3 players take the space of that...more importantly even if someone is to entertain others why dedicate a WHOLE ROOM for this?
The way I see it at most here's some rooms
1) kitchen
2) dining area (maybe the kitchen can have tables to act for this)
3) bedroom
4) laundry room (maybe in a bathroom)
5) tv/internet/living room
Obviously more people more bedrooms.
This idea of extra rooms for just more...stuff doesn't jive anymore
#housing