Housing
Buy One Home in Silicon Valley—or 30 in Cleveland
Affordable housing is not likely to emerge as a priority in the toughest markets.
There are no real surprises in the third-annual home listing report from Coldwell Banker Real Estate. Unless you consider inequality in the housing market a new turn. Then you're in for a shock.
For the second time in three years, Los Altos, California, ranks as the most expensive housing market in the U.S. How expensive? If you're thinking about buying a family home there in Silicon Valley, you may want to keep looking: A four-bedroom, two bathroom home in Los Altos is going to set you back nearly $2 million. For that money, you could buy 30 homes that size in Cleveland. Or, as the report notes, 25 homes plus Cavs tickets for 50 neighbors for nine years.